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Old 08-05-2007, 10:34 PM
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Re: Trading And Falling In Love

That's a really touching story about you on the plane but it does remind me of how I've irrationally clung to positions long after there's any rational trading logic to holding them. The phrase I often use is that I'm wedded to a particular position. It's not so much a case of being wedded to a market as being wedded to a particular position - for example a long position in the stock index futures. I think it's a case of fear of the market running away just after I close it - just as an over-possessive partner may cling on to you for fear that letting go will result in the end of the relationship. Being wedded to your positions sometimes works in your favour (you're less likely to get shaken out of the market) but other times it works against you as profits slowly disappear as you live in hope that it will come back in your favour - just like people in failed relationships cling to hope of reconciliation. It's odd because I'm fairly brutal in my personal relationships in that if things are not working out I bring them to an end. I need to be more like that when trading. Just as I always remind myself there are other fish in the sea when a personal relationship isn't working out so I need to remind myself that there are plenty of other positions I could be taking in plenty of other markets.

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