is greed good???

[vladiator]

Originally posted by rs7

Sounds like your trading lacked a "plan".
If you trade like this, you will always be looking at what could have been. Every trade you make, you will look back on thinking you should have stayed in, you should have gotten out, etc. There is no such thing as perfect entry and exit. All you can hope for is to be consistent and stick to what works for you. Looking back is a waste of time. Every trade could have been better. So why frustrate yourself?

I agree with what you said entirely, but I guess it's just human nature... I think it takes some getting used to, and since I'm only strating out, there is hope for me yet
My trading did have a plan, and it worked in that situation even better than it was supposed to. But then the reference point kind of switched to "what could have been". Anyway, thanks again for all your feedback guys. I think it's just a matter of practice in the end.

 

[ChrisM]

Originally posted by vladiator
Hi guys,
just wanted to see if any of you had any ideas for situations where you take a position, everything goes the way you predicted, you exit, reap a substantial reward... only to see those stocks soar 30% more on the next 5 minutes!!! I was so happy to get a 10% today, but I guess I should have just turned the machine off and went on to do my other stuff. How do you get over situations like this? It can drive one nuts
Anyway, thanks for advice.

Take a look at latest news in equity market. I don`t want to start with enronism back again, but this is the answer.

 

[vladiator]

Originally posted by IW_Andre

So yes, I think it's perfectly reasonable to suggest that discomfort in making money is very real and could have a negative effect on trading results. I think resolving the issue of making money in a market that usually means the person on the other side has lost money... needs to be reconciled in each person before real success can occur.

I personally find it helpful to think that the party on the other side doesn't need this money as much (e.g. an MM or the specialist ) or would not use it for a cause as worthy as what I hope to use it for in the end... Or I think that that person still made/will make some money on the trade, just a bit less then they could have had they not shared it with me - that way it becomes a win-win in a way.