Damir's Trading Journal

Quote from xje:

Congrats, guys. When a losing position turns to positive, don't you have the tendency to cover it right way? What can help resisting that urge?

Thanks for any help.

xje
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xje,

This is no rare tendency. Many traders get stressed out when price is about to hit their stop and when it comes back to B/E or to minimal gain they just "escape" the trade without thinking twice.

What you need to focus in those situations is the validity of the trade. Reevaluate the trade, if you were to enter now would you still take it? If the answer is yes stay in, if the answer is no, by all means get out while you can.

If you find it hard, it will only get easier with time.

Remember, you trade with your mind, not with your emotions.

TM Trader
 
Covered 2 @9375.+ 26 for todays. +5 which was a hanger which was shorted exactly 2 weeks ago + 5. Still have another hanger @ 9349 which I'm sure everyone has seen.
 
Just shows one MONEY MANAGEMENT is crucial to making money and surviving in these markets. i just wish I could be more consistant all round.
 
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