Feature to lock you out of trade

[StrongLikeBull]

Hello,

I am getting very good at entering trades are reversal points. However, I am exceptionally bad at staying in those trades and take profit way too early because I am having a hard time controlling my emotions and believing that the market is going to continue.

Is there anyway to "lock" myself out of adjusting my trade once I set it? Meaning I can't close early? Either it hits my stop or my profit target?

Thanks

[NinjaTrader_Oxana]

Hello,
Thank you for your post.

That is not possible. You always can close your position and cancel working orders.

[StrongLikeBull]

Hello,
Thank you for your post.

That is not possible. You always can close your position and cancel working orders.

closing the position is the problem I am facing... I close my position to early when in a winning trade. Ill see if I can have a developer develop something for me.

[bortz]

Closing winning positions too early is one reason why many traders never profit- They're obviously not overcoming their losses with their meager winning trades. You have a couple of options as this is a trading problem, not a platform or ninja script add-on solution to a trading platform problem. Firstly, size way down. With less $ on the line, you'll eventually get comfortable hanging on to the trade longer. Winning breeds confidence and confidence comes with time and experience. Next, consider time frame as it relates to comfort level. For most, there's just too much swing and noise on a 1 minute chart to day trade off of profitably. Find your most comfortable time frame. Finally, have per-planned exit points such as whole numbers, right before the lunchtime lull/EOD. You have to find your particular sweet spot for your particular style of trading based on the patterns you trade. As a day trader, I'm always asking myself- Is there any reason to get out of this trade yet? If not- hang on until it starts moving in the opposite direction, eating into your 5% or higher gains. Best of luck. Disclaimer: I'm not a broker or advisor. Comments are not to be taken as advice. I have no affiliation with NinjaTrader.

[jeronymite]

StrongLikeBull Your situation is very common. The psychology of trading is often the hardest element to master. Only dedicated effort to change your thinking will make the difference. All the tools in the world might promise you the control you lack from a human emotions perspective, but mastering your emotions will actually make you a better trader than all the "control" tools in the world. It's hard, but self-discipline is one of the real keys to improving one's trading results. (There are obviously other "keys" too, but this is an important one.)

I do not have any recommendations for specific training sources or methodologies, although I'm sure others might. Nevertheless, be careful. It's easy to pay for "trading psychology training" and come away poorer and no wiser or more self-disciplined. By all means, if you find something that seems to work for you and you need to pay for it, make a sensible, budget-appropriate decision about it. And re-evaluate it's worth as you go along, particularly if there is ongoing payment required. These things take a bit of time to achieve change, so give it a fair chance, but do not be persuaded to keep paying for something if it is clearly not suitable for you.

As for what you can achieve "for free", try some of the approaches suggested above, and look to set profit/loss amounts that you really are comfortable with. Then try "sitting on your hands", perhaps literally. One other helpful approach can be to trade with a "trading buddy" who has genuinely good outcomes and demonstrably better self-discipline, and find some element of psychological support in that. Choose wisely for that too. Don't look for a "signal buddy", i.e. someone who will "advise" you when to enter/exit/etc. Be your own signal finder and trade controller, and let your buddy offer a degree of psychological strength to support your own practise of that discipline.

Good luck with it all. Keep persevering. It's worth the effort.

Thanks.

[StrongLikeBull]

Closing winning positions too early is one reason why many traders never profit- They're obviously not overcoming their losses with their meager winning trades. You have a couple of options as this is a trading problem, not a platform or ninja script add-on solution to a trading platform problem. Firstly, size way down. With less $ on the line, you'll eventually get comfortable hanging on to the trade longer. Winning breeds confidence and confidence comes with time and experience. Next, consider time frame as it relates to comfort level. For most, there's just too much swing and noise on a 1 minute chart to day trade off of profitably. Find your most comfortable time frame. Finally, have per-planned exit points such as whole numbers, right before the lunchtime lull/EOD. You have to find your particular sweet spot for your particular style of trading based on the patterns you trade. As a day trader, I'm always asking myself- Is there any reason to get out of this trade yet? If not- hang on until it starts moving in the opposite direction, eating into your 5% or higher gains. Best of luck. Disclaimer: I'm not a broker or advisor. Comments are not to be taken as advice. I have no affiliation with NinjaTrader.

All great advice. I've found my time frame (3min and 5min) on the ES. I only use 1 contract - but here's the kicker, I use a prop firm so I really don't have any substantial amount of money at risk (if I blow the whole account I only use $20 of my own money).

[StrongLikeBull]

StrongLikeBull Your situation is very common. The psychology of trading is often the hardest element to master. Only dedicated effort to change your thinking will make the difference. All the tools in the world might promise you the control you lack from a human emotions perspective, but mastering your emotions will actually make you a better trader than all the "control" tools in the world. It's hard, but self-discipline is one of the real keys to improving one's trading results. (There are obviously other "keys" too, but this is an important one.)

I do not have any recommendations for specific training sources or methodologies, although I'm sure others might. Nevertheless, be careful. It's easy to pay for "trading psychology training" and come away poorer and no wiser or more self-disciplined. By all means, if you find something that seems to work for you and you need to pay for it, make a sensible, budget-appropriate decision about it. And re-evaluate it's worth as you go along, particularly if there is ongoing payment required. These things take a bit of time to achieve change, so give it a fair chance, but do not be persuaded to keep paying for something if it is clearly not suitable for you.

As for what you can achieve "for free", try some of the approaches suggested above, and look to set profit/loss amounts that you really are comfortable with. Then try "sitting on your hands", perhaps literally. One other helpful approach can be to trade with a "trading buddy" who has genuinely good outcomes and demonstrably better self-discipline, and find some element of psychological support in that. Choose wisely for that too. Don't look for a "signal buddy", i.e. someone who will "advise" you when to enter/exit/etc. Be your own signal finder and trade controller, and let your buddy offer a degree of psychological strength to support your own practise of that discipline.

Good luck with it all. Keep persevering. It's worth the effort.

Thanks.

Thanks for the great advice!

I do agree, that working through and overcoming the urge to get out early will greatly help me in all aspects of life via self discipline. Thanks for your response!