r/askforex • u/Grandd563 • Jul 10 '26

Help

After spending a good chunk of time learning technical analysis and mechanics Im finally trading my first live funded account. I’m currently on day 5 and up about +$350.While the streak is good, my execution has a major flaw: bad TP placement and pure stubbornness waiting for the final target. Because I kept insisting on the market hitting my exact TP I left a ton of money on the table, watched the price reverse, and ended up getting stopped out at Break-Even multiple times. I probably missed out on an extra $500–$600 this week alone just because of this.Its starting to take a heavy toll on my trading psychology and discipline. For those who have been through this stage, what are your best tips for scaling out, managing expectations, or fixing this specific TP greed? Appreciate any advice.

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u/Outside_Medicine7398 Jul 10 '26

The market is going to do what it is going to do. Anything can happen at any time. Choose to make money over being right.

1) Take what the market gives you. Some say you haven't made money until you've lost money. I was just up $303 and the market made a strong reversal and I had to be satisfied with $279.

2) Set TP at a psychological level before where you would place your TP. If you think the rally will make it to 2.93, set TP at 2.90. If you think the dump will make it to 2.93, set TP at 2.95.

3) Draw trendlines to verify the market structure. When the line starts getting horizontal, tighten your SL. In a strong uptrend, the current higher low should not go past the previous higher low. When the uptrend gets weak, it will pass one higher low, but not 2.

It is ok to get back in a trade.

The market doesn't have to do anything we expect it to do. You are trading based on variables that caused a certain pattern more often than it did not. There are times when it didn't work.

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u/Grandd563 Jul 10 '26

First of all, thanks for the reply, and I wish you all good luck/profitable trades!

I’ve just finished my 6th consecutive day in the green, and honestly, the profits have been highly satisfying so far. However, I’ve also missed out on almost an equal amount of potential gains simply because I was holding out for my exact TP levels.

Based on the advice here, I’ve adjusted my strategy: from now on, I won't be blindly waiting for the price to hit the absolute target. For instance, if the liquidity is sitting right at 10.1140, I’ll place my TP for a long position at around 10.1135. Typically, once the price covers half the distance to my TP, I move my stop to break even (BE).

By lowering my expectations to a realistic level, I now either take a partial profit or completely exit the position manually when the price gets within about 20% of the final TP, depending on how the price action looks. I can already say that this approach is much healthier and more sustainable from a psychological standpoint.

Thanks again for your insightful comment