Always winning

Discussion in 'Psychology' started by Burtakus, May 5, 2005.

  1. dfishkin

    dfishkin

    I tend to have the same outlook. I don't like to see losses on my positions. Sometimes I tend to hold them too long because of that. Other times, I'm rewarded because postions that I would normally get out of rebound and make me some money.

    I guess it's just a risk that you have to take.

    For me, I know it has to do with discipline, which as of now I unfortunately don't have enough of. But it's been working pretty well so far.
     
    #31     May 10, 2005
  2. This little psychological trick helped me. Always assume that once you put on a trade, you're in a losing position (if you're paying the spread, you really are). So what is the possible outcome of your trade? Simple -- you either manage the loss or the loss turns into a gain, in which case you manage the gain. Just by definition (as another poster pointed out), you have to lose to win.

    Or try this... every morning assume you're down 50K. Very motivating.
     
    #32     May 10, 2005