The price moves against you... you think it'll come back... but it keeps moving against you...
How many ticks does it move before most people cash it out as a bad investment ??
It is generally known that markets meander, so a red at some stage during some trades are to be expected and shouldn't be immediately cashed out... what general signals do you look for to differentiate between a 'meander' and a drift ??
Beyond the immediate steam where the horse has probably bolted and someone heard about it before you... or the horse is running around with other things clearly on its mind...
I'd be really interested to hear any views...
How far will you let a trade drift?
I would say you need to have a plan with a defined exit and to be rigid with that, holding on and hoping isn't a strategy. The scenario you describe is where my biggest losses have came from when learning, especially when it goes over a crossover against you that is a big no-no. It can easily continue and drift to the moon and then instead of taking a 5 tick loss you are looking at a 50 tick loss
It all depends on how big your stake is relative to normal. The bigger the stake, the more eager I am to get out. Smaller stakes give you more leeway. As Alex alluded to you need to have a plan before opening a trade, either for each individual trade, or it might be easier to incorporate your plan into the strategy you're deploying so you execute it automatically.