Kardec Trader explains how to manage trades: take partial profits at 1-hour and 4-hour timeframe confluences, move stops to break-even on what's left, and keep a small runner for bigger moves. Small consistent wins beat holding for home runs.
If you're noticing this one hour, four hour feg here, this is a good spot to take some profit. That's typically what I do. I'll take a partial profit and then I put my stop loss somewhere here. Break even and I'll get stopped out on the rest and then break even. That's fine in those cases. I'm not holding for a home run. Maybe I'll even be more aggressive with taking partials. I typically always like to leave some percent of my position on because just in case it does go for that low, I want to keep those runners running. You might get frustrated if you're not taking that partial there. You might get married to your bias there and continue trying to short as retracing and then you get stopped out. Now you're mad, now you're flipping long here. That's exactly what blows up accounts. And I've been there and done that. If price is just bouncing and it doesn't really have a direction because of those jagged highs are making it harder, it's better to just let it generate that. So now, like if we stayed out of this now, it might be generating these equal highs that later on we'll get part of the move there.
