Quote from sudhaker:
Just curious, why not cash out at 22.30, only 9 cents below your target and specially when .INX is playing around 900 level - possible support.
Quote from drjekyllus:
He did his setup before the trade before he had money on the line. This is the point you are most rational. Once money is on the line it is easy for emotion to set in. Once emotion sets in and you change your rules, midway through the trade, you are going to screw up.
Bottomline, stick to the gameplan.
Quote from Ssage:
I don't know much about anything and I am new here but I have read most of this thread. My guess at his answer would be when you start playing the guessing game as to when to get out early you could potential stop all your trades early. By letting your trades come to fruition/running their course one way or the other your sticking with the system and removing the guess work.
It's easy to say afterwards why didn't I get out early but what stops you from doing that on every trade?
Quote from AA48:
I was chating with a friend of mine this morning,both watching the Greek stock market.He had bought a stock 2 days ago and today was up 17%,giving him an overall profit of 20% in 3 days....
Well,I asked him "how are you going to manage this trade?" (ther is no leverage involved here,stricktly cash...).His reply was interesting.I've never thought of that...
"I am going to sell now so many of my stocks,as to get back my initial capital,plus commissions.For the remaining shares,my entry price is zero! They are free for me...So,my stop loss is zero!
I don't know where the price will go the next days...but,since my risk is zero,I'll target the next significant resistance on the weekly chart.I'll do nothing till the price goes there....And if it goes there,I'll sell them all..."
Rather strange approach,agree?