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This is a considerations that has occurred to me lately.
Sometimes, usually later in the day, if I am up, I will start taking half positions on my trades so as to not blow away my existing profits on stop outs. Seems prudent at first glance. But wait! I've noticed that it tends to be an excuse to get into a half-assed setups because nothing else is going on, or is just a reflection of chickenheartedness, and neither is a good habit to foster. If the latter and if the trade works out I kick myself for not taking a full position.
A trade is either worth a full position or it's probably not worth the trouble. In or out, black or white.
Another way to look at it is to ask: Would I take this trade with double my usual position (assuming your account could tolerate such a trade)? That tends to clarify things. |
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A possible solution - stop trading after the AM session. That's what I do and it's worked nicely b/c of the above mentioned issues. It's very easy to want to find something when nothing is going on.
Once again, another psyche issue at work here. Amazing how the mind will react to different situations.