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Unrealized Profit Definition

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During an active trade, if the position of the trade moves with the trader's expectations, the trade will be in profit. However, this profit is unrealized because the position has not been terminated in order to claim the profit. The profit is only realized when the position is terminated in profit. In an account statement, the unrealized profit is shown in a separate column and is not added to the realized profit column.

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    • Hi Humble, I was (mis)fortunately enough to have received an injury that took me out of work the last 2 weeks. During those two weeks, I reviewed this entire thread as well as your trading log. I am curious how you are doing as well.  There were many things I took away from re-reading this thread and saving over 1000 pages of notes. The biggest thing that I believe that attributed to success was Thales' warm-hearted compassion for self and others. He demonstrated this time after time even stating that he gets stopped out to the tick at least once a week and it is ok. He also consistently told other traders to take it easy, not beat up on self, and mistakes are actually ok.   Here's why I believe self-compassion/trust is actually the missing piece so many of us have yet to find consistent success. When I take a loss (or miss a gain) I feel as if I did something wrong -> I then criticize/punish myself -> I then seek to avoid self-inflicted pain by searching for remedy -> I then change/modify trading plan, add indicators, or adopt a brand new strategy/guru in hopes that I now have the remedy to not have to experience the automatically generated self-punishment associated with a loss (or missed trade). This cycle continues ad infinitum and it is now many years later in the same game.  I was listening to Mark Douglas' workshop last night and he said that the key to success is having the belief in your own consistency. Put it another way, do I believe that I can trust myself? 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