When to Let Your Trade Go! 7 TIMES

by | Sep 5, 2023

Trading is not just about trading.

It’s also about being patient and knowing when to just let it do its thing.

That’s why you need to learn to master effective trade management.

In this short but important article, you’ll know when to just let it go!

  1. When the System Lined Up – Tick

One of the first signs that it’s time to let go of a trade is when everything aligns correctly.

Once you see the system has lined up according to the chart analysis.

That’s it.

Do not add anything else. Don’t look for extra confirmation or rejection signals.

Just go with what you’re supposed to.

  1. When the Entry Orders Are in Place – Tick

Right so the system is all set.

Now you need to place your levels.

Jot down or place your entry, stop loss and take profit.

Maybe look where your next potential adjusted stop loss will be.

But then keep to it.

Don’t adjust the levels again.

It’s crucial to have predefined exit strategies in place without tampering on anything extra.

  1. When the Risk and Reward Criteria Is Met – Tick

Every trade should have predefined risk and reward criteria.

I don’t need to remind you that the risk MUST always be less than the reward.

Do the calculations and confirm this. Then don’t change anything else.

  1. When There Is the Right Trade Size – Tick

Proper position sizing is crucial to managing risk.

If your trade size is too large, you’ll risk more than you should.

If the trade size is too small – then you might make insignificant gains if the trade moves for you.

That is a missed opportunity that you cannot afford to lose.

Trade size is like goldilocks.

Too hot (big) – you’re risking too much and can burn your account.

Too cold (small) – you won’t reap the benefits to grow your portfolio.

Just right (1%, 1.5%, 2% risk) and that should be your go to trade size always.

  1. When Technical Indicators Signal – Tick

If you’re an indicator, candlesticks or chart patterns trader – do your analyses before hand.

Then base all decisions on THAT specific criteria and let the others go.

Add anymore and there will be analyses paralyses.

Add anymore and you will be confounded with total confusion on what you’re looking at.

  1. When High Impact events take place – Tick

I’ve written that fundamental analyses can be quite a complex process. There is always new news, events and announcements.

If you’re particularly trading Forex, then it might apply.

But stick to only a few fundamentals.

NFP, Employment, CPI, Interest Rates and maybe even Bank holidays.

During those days, don’t take any Forex trades – Just let them go.

  1. When Emotional Biases kick in – Tick

Emotional trading, driven by fear or greed, can lead to poor decisions.

Especially if you’ve already taken a trade and you start having doubts creep in.

The trade is moving in your favour and you are excited to bank a profit.

The trade is moving against you and you are in panic mode knowing you can lose more.

The trade is not moving at all and you doubt the system altogether.

At that point, you need to close your computer down.

Not wait for it to shut down. Not close everything on your computer.

Literally close your screen or put it on sleep mode.

Let your trade go.

As long as it hasn’t hit your stop or take profit, means the trade is in PLAY.

You’ve done your job now stop watching every tick the market moves.

I hope this helps and if there is one thing to remember out of them all.

When you’ve taken a trade, just let it go and let it run its course.

So let’s sum up the 7 times to  know when to let your trade go.

  1. When the System Lined Up – Tick

  2. When the Entry Orders Are in Place – Tick

  3. When the Risk and Reward Criteria Is Met – Tick

  4. When There Is the Right Trade Size – Tick

  5. When Technical Indicators Signal – Tick

  6. When High Impact events take place – Tick

  7. When Emotional Biases kick in – Tick

Trade well, live free.

Timon Rossolimos
Founder, MATI Trader




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Timon Rossolimos

Founder, MATI Trader



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