letting your winners run or don't let a winner turn into a loser? i realize that its hard to tell if a winning trade will turn into a real "winner" and many times it just turns back and bites you while pulling stops to break even would often get me stopped out if price comes back to retest levels. any advice would be appreciated
You somehow forgot the most important option: don't let your losers run. Somehow, for most traders that is an easier task than letting a winner run.
ah i never have that problem. i probably take a loss too quickly which can sometimes turn out to be a huge winner =/
That is a delicate balance to achieve, and is more than a bit correlated with the volatility of the market(s) you choose to trade. I have a similar malady, which explains why I trade spreads.