How long do you hang on to a trade that's moving sideways?
Setting stop and profit targets is pretty easy based on charts/system rules/fixed fractional etc.
But if a trade doesn't move against you and stop you out, but doesn't go far enough to hit your profit target, how long do you hang on to it?
Until it does hit one or the other? Do you re-analyse the chart and when it gets to the point that you say "I wouldn't take a trade here" you exit? Are there any systems (like FF) that define opportunity cost?
Is it purely a discretionary preference? Do people define a "time stop"?
Interested in people's thoughts...