When trading rules frustrate…..!

Sometimes your trading rules can give rise to substantial frustration. Take today, for example. I got into a trade with a target of 45 points all up (5 contracts at 9 points per contract). Things set off nicely but price then fluctuated for a few minutes and I was stopped out for an overall gain of 6.25 points. 

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Right after that, the market moved sharply in the direction of my trade and I would have achieved the full 45 points within the next 2 minutes!

When this happens, try to resist changing the exit strategy by adding rules that would have maximized the return in this case.  Usually when you do that, the very next trade acts as predicted by the initial strategy and a probable win is turned into a loss or draw. If you keep tinkering with your strategy, you will end up constantly chasing your tail.

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