Trading is a very thing. Many traders quickly take profit when they see the opportunity. But when it comes to loses, most traders ride on it and hope that they could recover or lose lesser.
Such thinking and strategy is not correct. If you have been following such strategy, did it make you better financially. If no, you got to chance it immediately.
According to researches and studies, it works better if you ride on your profit if market goes with you but stick to your cut loss plan if the market goes against you. Remember not to let losses ride beyond your intended plan.
