Opening Protect Protection Rule
Do you have a specific rule for how much open profit you’re willing to risk giving back before tightening the stop or taking partials? Has defining that number improved consistency?
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Yes, I have a rule for protecting open profit. Once a trade reaches my predefined profit target or a key level, I consider tightening my stop loss or taking partial profits, depending on market structure and my trading plan. Defining these rules helps me avoid giving back too much profit due to emotions and improves my consistency and discipline.
