detachment from money and emotions

Discussion in 'Psychology' started by andrasnm, Aug 4, 2008.

  1. Cutten

    Cutten

    This is a symptom of trading too much size. Sell down to the point where the position no longer stresses you. Then you will find it easy to sit and wait for your score.

    Over time, if the position moves your way, you may find yourself being comfortable buy a bit more every few days. This is how you build a position whilst retaining staying power & composure.
     
    #11     Aug 5, 2008
  2. Once you've protected the trade don't look at your account balance during the week.. Hopefully it is not too large a percentage of your account.. because gaps happen.. especially in Finance stocks..
     
    #12     Aug 5, 2008


  3. First you should never risk more than 10% of your account in any trade. Second when ever in a situation where you don't know what to do(scared or other emotions) sell/cover half of your position. Never let greed kick in unless your in the zone then push yourself and by all means get greedy. Never 2x a losing position. If this stocks hold 3 you are looking great but that is the question does it get to and does it hold the level?
     
    #13     Aug 5, 2008
  4. well i typically like to scale in/out of positions as they move in my favor which gives some breathing room so i'm not going too crazy
     
    #14     Aug 5, 2008