Q: My question is about conflicting goals.
Goal number one is to cut losses and let profits run.
Goal two is make a certain dollar profit per week.
My conflict is that I have 2 profitable trades on. If I close them both, I will achieve my specific dollar profit for the week on Wednesday. But I want to let my profits run as well. One trade is weakening and I wouldn’t put the trade on today using my entry signals. The second trade is still showing good entry signals and I would put the trade on today.
What I finally decided to do was close both trades. I felt good making my dollar profit goal, but I feel conflicted because I didn’t let my profits run.
Which is the most correct course of action?
A: I think you need to do some conflict resolution. First, decide who you are? What are your beliefs about yourself? What part of you wants to let profits run and cut losses short and what part of you wants a certain profit goal each week?
Next you need to find the positive intention of each part and do a conflict resolution between the two parts. We do those sorts of exercises in the Peak Performance workshop and they are also in Volume 3 of the Peak Performance Home study course. When you sort out the conflict, then you will have the best answer for you.