{"id":3895,"date":"2010-10-29T23:25:09","date_gmt":"2010-10-30T09:25:09","guid":{"rendered":"http:\/\/www.tradingheroes.com\/?p=3895"},"modified":"2024-06-12T23:15:32","modified_gmt":"2024-06-13T06:15:32","slug":"how-to-stay-in-a-trade-when-others-bail","status":"publish","type":"post","link":"https:\/\/www.tradingheroes.com\/how-to-stay-in-a-trade-when-others-bail\/","title":{"rendered":"How to Stay in a Trade When Others Bail"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-3913\" title=\"bail out \" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/dreamstime_10989459.jpg\" alt=\"Get me out of this trade! \" width=\"375\" height=\"250\" \/>On a recent trade, I was able to stay in the trade because I focused on price action.<\/p>\n<p>However, my ability to stay in a trade and see it to fruition is not as nearly as reliable as I would like it to be.\u00a0\u00a0 As I continue to work on this, I thought that I would at least jot down my thoughts that came about as a result of this trade.<\/p>\n<p>Based on some of the comments and emails that I have received, this seems to be a common issue with other traders too and I hope these thoughts will help you too.<\/p>\n<p>I dont' know about you, but usually when I bail out of a trade early, it is for the following reasons:<\/p>\n<ul>\n<li>I didn't have an exit plan going in<\/li>\n<li>I got nervous because because price became volatile<\/li>\n<li>I didn't <a href=\"https:\/\/www.tradingheroes.com\/backtest-multiple-symbols\/\"  data-wpil-monitor-id=\"207\">backtest<\/a> the strategy I am trading<\/li>\n<\/ul>\n<h4>Volatility is OK, IF&#8230;<\/h4>\n<p>When things get really volatile, sometimes it is best to bail out, especially if you have a profit on the table.\u00a0 This is a judgment call and should be exiting the trade because the volatility is happening on the time frame you are trading on and not because you get scared out on a significantly smaller time frame.<\/p>\n<p>For example, if you are trading on the 1 hour chart, it probably isn't a good idea to base your exit on the 1 minute chart.\u00a0 The 1 minute chart will give you a heart attack if you are really trading based on signals on the 1 hour chart.\u00a0 If you don't believe me, try it.<\/p>\n<p>Yes, I have been guilty of this many times too.<\/p>\n<h4>Not Excusable<\/h4>\n<p>The other two causes are just simply sloppy trading.\u00a0 So what can I do to eliminate this from my trading?<\/p>\n<ul>\n<li>Backtest every trading system thoroughly and be comfortable with the risks<\/li>\n<li>Practice trading for at least an hour a day with <a href=\"https:\/\/www.tradingheroes.com\/forex-back-testing-software\">Forex Tester 2<\/a><\/li>\n<li>Log my target price in my trading log<\/li>\n<li>Log the trading system that I am using on my trading log.\u00a0 Hopefully, that will remind me to only trade &#8220;approved&#8221; systems.<\/li>\n<\/ul>\n<h4>What do You Do?<\/h4>\n<p>What do you think?\u00a0 How to do you prevent yourself from bailing out early?\u00a0 Feel free to leave a comment below.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On a recent trade, I was able to stay in the trade because I focused on price action. &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"How to Stay in a Trade When Others Bail\" class=\"read-more button\" href=\"https:\/\/www.tradingheroes.com\/how-to-stay-in-a-trade-when-others-bail\/#more-3895\" aria-label=\"Read more about How to Stay in a Trade When Others Bail\">Read more<\/a><\/p>\n","protected":false},"author":2022,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[725],"tags":[],"class_list":["post-3895","post","type-post","status-publish","format-standard","hentry","category-trading-psychology","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to Stay in a Trade When Others Bail - Trading Heroes<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tradingheroes.com\/how-to-stay-in-a-trade-when-others-bail\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Stay in a Trade When Others Bail - Trading Heroes\" \/>\n<meta property=\"og:description\" content=\"On a recent trade, I was able to stay in the trade because I focused on price action. ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tradingheroes.com\/how-to-stay-in-a-trade-when-others-bail\/\" \/>\n<meta property=\"og:site_name\" content=\"Trading Heroes\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/tradingheroes\" \/>\n<meta property=\"article:published_time\" content=\"2010-10-30T09:25:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-13T06:15:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/dreamstime_10989459.jpg\" \/>\n<meta name=\"author\" content=\"Hugh Kimura\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@tradingheroes\" \/>\n<meta name=\"twitter:site\" content=\"@tradingheroes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How to Stay in a Trade When Others Bail - Trading Heroes","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.tradingheroes.com\/how-to-stay-in-a-trade-when-others-bail\/","og_locale":"en_US","og_type":"article","og_title":"How to Stay in a Trade When Others Bail - Trading Heroes","og_description":"On a recent trade, I was able to stay in the trade because I focused on price action. ... 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