When your position is going against you — close it out. Waiting a couple extra percent to see what happens can kill you. If you’re already thinking about closing — do it. Face it — your trade didn’t work out.
If it did you wouldn’t be having these thoughts.
So what’s the difference of a couple percentage points? Not much…on this trade. But play that scenario out over a year and slicing a couple percent loss from each trade will give you a great reward after 100 trades.