Kardex Trader explains why holding a winning trade past your target costs thousands. Waiting for 5 extra points risks losing 95 points of profit. Close at your target and take the win instead of gambling for scraps.
I've seen people post, my trade was 5 ticks from my target, I didn't take anything off and it came all the way back on me. When you think about it, are you really greedy over the 5 points? How much money are you making off of the last 5 points or the 5 ticks that you're waiting to take that out? To me, I'd rather just close it and give up the $50. Huge negative risk-reward scenario, right? Like you're giving up 95 points for 5. People think that they have a risk-free trade on, but you are risking unrealized profits. Yeah, you have to really determine
