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1) Got asked the question:
"What to do with positions, when your take profit level has been front-run and/or your coin has retraced in the middle of the move and your setup isn't going how you planned it to go?"
Thoughts below
"What to do with positions, when your take profit level has been front-run and/or your coin has retraced in the middle of the move and your setup isn't going how you planned it to go?"
Thoughts below
2) I always try to look at the setup with a completely fresh view. Just like i'm considering an entry at that exact point.
1. Do i still think the probability is in my favor for this to move to my target?
2. Is the Risk/Reward still good from the spot it's at?
1. Do i still think the probability is in my favor for this to move to my target?
2. Is the Risk/Reward still good from the spot it's at?
3) If the answer is "Yes" to both these questions, you keep the position. 
If you think the setup has changed for the worse and doesn't offer a good enough R:R anymore then you close it early.
If you think the setup has changed for the worse and doesn't offer a good enough R:R anymore then you close it early.
4) The latter can also occur when your coin is right below the take profit level.
For example: Your coin went straight up from entry and did +30% in one candle and your target is +5% higher.
If you see the coin falling it might be a good idea to take profit early.
For example: Your coin went straight up from entry and did +30% in one candle and your target is +5% higher.
If you see the coin falling it might be a good idea to take profit early.
5) This is because:
1. There likely isn't a good stop loss to be placed when your coin went straight up.
2. You are risking losing the +30% in gains AND the distance to your initial stop loss. Only for an additional +5% in gains. This makes the R:R very unfavorable.
1. There likely isn't a good stop loss to be placed when your coin went straight up.
2. You are risking losing the +30% in gains AND the distance to your initial stop loss. Only for an additional +5% in gains. This makes the R:R very unfavorable.
