The purpose of this blog is to provide a comprehensive compilation of articles and posts which have been of great help to me in the past, or that I find very insightful, wise or containing a great deal of useful knowledge.
The original author of the text will be mentioned, so that those who are interested in the subject can explore it deeper.
The blog will consist out of several categories, some more theoretical, other containing charts and analysis.
Finally, this blog is, in a way, a continuation of the journal
I started in the public section on another site.
The original author of the text will be mentioned, so that those who are interested in the subject can explore it deeper.
The blog will consist out of several categories, some more theoretical, other containing charts and analysis.
Finally, this blog is, in a way, a continuation of the journal
I started in the public section on another site.
Knowing when to quit
Posted 04-03-2009 at 04:55 AM by firewalker
There are still some issues with my trading that I am unhappy about. Especially when the market does not move nicely or chops around, I lose more money than I should.
I need to remind myself that there will be bad days and good days, and in the bad days damage limitation is sometimes the best one can do. Staying out and perhaps not taking a trade is not necessarily a bad thing neither. Right now, I'm struggling with that mindset. The pressure to make money consistently each day, perhaps forces me to take too many trades.
Another great post from Steenbarger that reminds me to take it easy when things don't go according to plan:
http://traderfeed.blogspot.com/2009/...f-with-no.html
I need to remind myself that there will be bad days and good days, and in the bad days damage limitation is sometimes the best one can do. Staying out and perhaps not taking a trade is not necessarily a bad thing neither. Right now, I'm struggling with that mindset. The pressure to make money consistently each day, perhaps forces me to take too many trades.
Another great post from Steenbarger that reminds me to take it easy when things don't go according to plan:
http://traderfeed.blogspot.com/2009/...f-with-no.html
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