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Yes sorry about that chaps, I gave my broker strict instructions to sell quietly ... to cut a long story short, I fired the fucker.

Good post!

The reason why 99.9% fail. Just a suggestion. The educational systems of school, college, university teach people what to think, NOT how to think. Trading requires critical thinking.

4 months is far too soon to expect to make money consistently. However, you have just done that which many losing traders are unable to do; that is; cut your losses quickly. Good luck.

A very important and often overlooked point.

Losing traders make more bad decisions than good decisions :) For me that is the beauty of this game. I alone am completely responsible for my trading results. All I need to do is ensure that I do what I must do over and over.

More specifically, in Copenhagen. http://www.youtube.com/watch?v=OzkB5DuveDE

Good thread! Personally I have no problem cutting losers, but when I get a real runner I find it hard to risist the burning temptation to take profits. It's silly really.

Well you have to ask yourself why is the constitution being ignored. Like I said before, it's all too easy for special interests to bribe/own parts of congress. Take the power out of the hands of congress and put it in the hands of the people via a referendum system and you go a long way to...

You are both wrong. He is in fact green on the outside and RED on the inside.

On second thoughts that is not communicating what I mean. The constitution is a good thing of course. The implementation should be different though, instead of a congress I think the referendum system would fit nicely with the constitution. I'll give an example. Special interests want to...

What's the point of the constitution when it can be ignored and deliberately misinterpreted. Why any sane person would want to put the decisions that effect their lives in the hands of a politician is beyond me.

Imagine an America where the big decisions were decided by the people in referendums, and where a referendum can be triggerred on any piece of legislation by 100 thousand signatures. Wouldn't that be something Comrades!

The most insidious, most mind/potential wasting drug around is television.

Is it just my imagination or does the subject of 'cutting your losses' get considerably more attention on ET than 'letting your winners run'?

The rule has been (pretty much the whole year so far) and continues (for the time being) to sell the rallies.

Stops are just a tool which in the RIGHT HANDS can boost overall performance. They are a way to help a trader manage risk. Managing your risk statically is not good enough when you consider that the markets are dynamic. Just my opinion.

How about the converse? When you find that the market is doing exactly what you expect and you are already in, do you have a plan to add and really milk the opportunity?

Patience is an edge.

Thanks for the thread. Is there a reason why you don't trade forex or fixed income or just personal choice?