In my opinion, micro-management is a huge performance killer for most traders. Here are things traders do when they micro-manage their trades.

  1. Watching trades tick for tick
  2. Moving to lower time frames, once in a trade
  3. Looking for outside confirmation (social media, forums, news sites that have usually nothing to do with your system)
  4. Constantly moving around stop loss and take profit target
  5. Adding to trades and/or partially closing trades (usually without a plan).

If traders concentrate on larger picture and let the market do it's thing, it would be beneficial for them in the long run.
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