Today's coverage from the Trader's desk is the Profit protection bias. Set up Has this ever happened to you? You identify a set up and take a position. Your execution is textbook. Limit order, stop loss, target.  The momentum favours your trade and your position is in profit.  Everything is proceeding as per your plan. Your position is profitable and you confidently move your stoploss forward.  From here, the best course of action is often to step back and let the trade play out with minimal interference. The Bias kicks in The position continues to move in your favour. Your unrealized profit grows. All of a sudden, you loose your nerve and close your position securing the profit. After all, one in hand is worth two in the bush. There is no right or wrong action here, no judgement. But it is worth asking: why did we lose our nerve? Could we have done better by simply letting the trade continue? Or, if we felt compelled to act, would it have been more prudent to trail the s...