if i am not in profit after 15 mins, i will close the trade

@chris_4eva - 2 months ago - Risk Management

I have this rule I follow, whereby after I open a trade I wait for 15 minutes and if I am not yet in a profit, I quickly close the trade. What do you guys think about this risk management strategy?

@purple_hills - 2 months ago

Good traders cut losses early, so I agree with this

@godswillfx - 2 months ago

Solid discipline for having a rule. But a strict "15 min no profit = exit" often gets you chopped up by noise and cuts winners too early.

Better: Use proper price-based stops first, and treat time as a secondary "re-evaluate" trigger. Backtest it on your setups that’s what matters.

Overall, it’s okay as a starting point but needs refinement.

@purple_hills - 2 months ago

Quoted - godswillfx

Solid discipline for having a rule. But a strict "15 min no profit = exit" often gets you chopped up by noise and cuts winners too early.

Better: Use proper price-based stops first, and treat time as a secondary "re-evaluate" trigger. Backtest it on your setups that’s what matters.

Overall, it’s okay as a starting point but needs refinement.

He can always get in again when the tide changes

@godswillfx

@godswillfx - 2 months ago

Quoted - purple_hills

He can always get in again when the tide changes

How do you mean

@chris_4eva - 2 months ago

Quoted - godswillfx

Solid discipline for having a rule. But a strict "15 min no profit = exit" often gets you chopped up by noise and cuts winners too early.

Better: Use proper price-based stops first, and treat time as a secondary "re-evaluate" trigger. Backtest it on your setups that’s what matters.

Overall, it’s okay as a starting point but needs refinement.

You cant be talking of winners when a trade is in a loss

@godswillfx

@godswillfx - 2 months ago

Quoted - chris_4eva

You cant be talking of winners when a trade is in a loss

That's not a lie though

@victordtrader - 2 months ago

That's not a good thing bro, being emotional. I do open trades for days riding the trend, hitting targets.

@chris_4eva - 2 months ago

Quoted - victordtrader

That's not a good thing bro, being emotional. I do open trades for days riding the trend, hitting targets.

@Victor are you saying we should hold on to a losing position? or 15 minutes is not enough to tell if a position is a winner? What happened to cutting losses early?

@victordtrader