Trader Mindset Price Targets Represent Fear-Based Behavior
Setting Price Targets is fear-based behavior and you don't want to let fear dominate your trading.
Setting price targets is about your fear, not greed. You set a price target so that you seem "reasonable" with yourself in terms of what you want from the trade.
Why set your sights so low...?
You need to start thinking bigger to allow your trades go to 20-1 in a reward to risk ratio. Let the market tell you where the bigger move is over.
If you can't imagining it happening, it won't happen for you.
You may have been coached wrong or have been instructed in a small-minded fashion in setting your sights to low.
It's your fear that gets you out of the trade too early. Only small traders are looking short-term. Let the HFT guys chop them up, not you.
Join the big boys and let the institutions push your trades further into profitability. Use the market forces against competition for your greater profits, like in judo.
Whatever trading edge you think you have, you cut it at the knees by taking profits too early.
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