So I was sitting on a 25% paper profit, and decided to let the trades run out. Ended up losing 13%, while still being on a 25% profit.
Is there a sweet spot of profit a week? That I should close out once hit? I'll stick to the TPs and SLs for now. Mathematically, that would make sense if I see a massive spike in profits some weeks i.e. Couple of trades in a row going my way. But if the plodding still continues i.e. 5% a week, then maybe I should set a weekly target instead. $9,200 now (down $1k) with about $2k running. Trade safe!
Yours,
X
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