Hold or sell? You have been staring at the chart for an hour and you still do not know. Should I take profit now or let it ride? Should I cut my losses or wait for a bounce? The fact that you are asking this question right now — in the heat of the moment — means emotions are driving the decision, not strategy. The best traders make these decisions before they enter a position, not while they are in one. Audit your impulse before you do anything.
Checking this trade...
Or write the trade on your mind:
Checking this trade...
Related decision moments:
The right answer depends on your original plan, not your current emotion. If you had a target when you entered, honor it. If you are deciding now based on fear or greed, audit your impulse first.
Decide before you enter. Set a profit target and a stop loss. When price hits either level, execute mechanically. If you are making the decision now, in the heat of the moment, emotions are in control.
For most retail traders, holding beats trading. Active trading requires emotional discipline that most people do not have. Every time you trade, you create an opportunity to make an impulsive mistake.
Only hold what you can afford to lose and have a plan for. If a 50% drawdown would make you panic sell, you are holding too much. Size your position so that volatility does not trigger your impulse to sell.
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