All very true
'Course some day traders turn into position traders when their trade goes wrong and some position traders turn into day traders when they are dying to take profits . What was the story Livermore relates about a sage old trader "We're in a bull market, my boy, so I can't be losing my position".
Easier said than done. Rather than "losing my position my boy" I sometimes lock in profits (at the threat of a retrace swing leg) by opening an equal and opposite trade (in the same market!)
I know it makes no financial sense to pay the extra spread. But I hate to see paper profits disappearing. And I know that if I exit, it will be harder to re-enter and I will probably lose my position!
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