There are two problems: one: figuring out a trend has ended and two: admitting that it has actually ended. Too many traders will stay in a trade thinking it will go on forever or say I will get out at the next move. They have a profit of $100 and will not take a profit of $64 when it comes back against them so they lose the $64 also. Or they marry a position and even though they know they may be wrong it is hard for them to get out because they think I might still work if they hang on long enough.
When the trend is over get out. Even if you cannot get out at the top or even if you have lost a little money you still need to get out. By fighting the fact that the trade is over and hoping it will continue will only hurt you both financially and emotionally.
You can see on this 15-minute chart that the trend is over. There are two good exit signals the arrow on the left is point where the Norwood Stop or manual trailing stop would take you out. The other is when the candle closed below the purple line. In either case it was a good trade of either 150 to 170 pips. All trades and trends come to an end. Get in tune with what the market is doing and make your trading life easier.
