SigmaForex Protection
Always Protect Profits
We have talked about preventing large losses with the use of a stop loss. Now lets talk about protecting our profits. When a trade is profitable and you have moved the stop loss so that the worst you can do is make a small profit, we like to change the name of the stop loss and call it a “PROTECT PROFIT.” We follow the profitable trade with a protect profit and let the market tell us when it is ready to change directions. By using different time frames a trader can learn which time frame will give them the most profit on a longer-term trade. It is hard if not impossible to lose money while taking a profit. Learning to take a good profit out of the middle of a trade is when you are on your way to success.
We have talked about preventing large losses with the use of a stop loss. Now lets talk about protecting our profits. When a trade is profitable and you have moved the stop loss so that the worst you can do is make a small profit, we like to change the name of the stop loss and call it a “PROTECT PROFIT.” We follow the profitable trade with a protect profit and let the market tell us when it is ready to change directions. By using different time frames a trader can learn which time frame will give them the most profit on a longer-term trade. It is hard if not impossible to lose money while taking a profit. Learning to take a good profit out of the middle of a trade is when you are on your way to success.
