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qdrv

Don't Marry Your Trades

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Ultimately what we are trading, are numbers.

Numbers are relative, what does a number mean to you?

Does it mean buying a new luxury vehicle? A high dollar timepiece?

Or does it mean, making a living on your own, without some jerk boss lording them self over your life?

 

So when we look at our profits and losses while are we holding onto that trade, what sentiments come to mind?

 

This is a "Put your money on the table, take your money off the table market" now, cut your losses at 7%

Unfortunately we are or have been at one time, self programmed into the adrenaline rush of entering a trade, whether we lose or gain, we scour through forums (such as this one) to look for added incentive to keep the position, or take one.

 

But ultimately what do the numbers say? No, not what one armchair economist thinks, im talking about what makes sense. A fellow I know, lost 50k in one trade a few years ago, why was this? Doubtless he kept up the incantation "its going to go back up". When in reality ,he should have cut his losses at the 7% line.

 

When we see positive numbers on our trades, take them. Don't get married to your trade. The trade doesn't care about you nor your feelings, you have to be detached to make money trading.

 

http://www.QDRV.com

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