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First post — about letting a winner turn into a loser
Hi all, new to the forum. I've been trading commodities and FX for about 8 years now. One mistake that still stings, even years later, was a solid short on $NZDUSD that I let run too long. Had a clean 2R in the bank, felt confident it had more room, and then watched it snap back through my entry and stop me out for a small loss. Greed, plain and simple, cost me a decent win. My biggest takeaway from that, which I still apply, is that taking profit at a pre-defined level is never the wrong decision, even if it runs further without you.