VLO Trade on Jul 26, 2018 10:35 from swinging_long: Tradervue User Stock Trades.

This is a good example of keeping an eye on a setup even if you're stopped out on the 1st attempt. Maybe it's timing related, or maybe it's market maker games. The 1st trade I took on this name was a long against the $113 level; unfortunately, I was stopped out on that wick below $113. Considering how quickly the price was pushed back above $113, I decided to get long once more, again risking the $113 level. As price continued to push higher towards HOD, I added a bit more size. The trade ended up working, but I'm not happy with my exit.

Before leaving for work, I'd set my stop and a target at $115.5 in case it spiked on my way to work. While driving, I saw that price had popped over $114 and I was up significantly on the trade, although not anywhere near my target. Foolishly, I decided to lock in my profits because I FEARED giving up some of my unrealized gains. As if the market was trying to prove a point, it moved up another $3. Needless to say, I missed out on some significant profits because I was too scared. If I'd taken the time to process my feelings, I would've identified the fear and perhaps left the trade alone. Alternatively, I could've locked in half and let the rest ride. At the end of the day, the lesson is that I need to let those trades that are working for me do it's thing. Most trades will only give me 1-2R. When possible, I need to let the trades trend and ride them up for as long as possible. The hard part about it is that as a trader, you never know which one is going to be a big winner. While hard, this is also the beauty of trading.