Yes sir. Thank you for that. I only read your first post and it accentuates my point. Shrugging off losses is what it is all about. And for my personality, keeping losses tight with a low win rate is just fine.
We have no control over how much we can make when we win. That is the reality of it. Nobody can predict how far a stock will run up to. On the flip side, we have control over our losses, 90% of the time atleast. Small losses can be recouped with one large win. My win rate is 30-40% and I am fine with that. What has hurt my profitability is when I allow small losses to turn into large losses. Avoid the large losses and winning and earning monies is that much easier. Also, those large losses eat into your profits.
Yes. As I stated in another thread, you just don't know how far they're going to go when you are in the money. I learned the hard way that it can actually be frightening when you get out of a trade too early, and it could have been the best trade of the year. THAT IS PAINFUL.
It is worst when that trade runs up huge, just after you sell it. My big winner, BKKT last year, I made huge gains however, when the market closed, I could have made 300% more profits had I waited to sell atleast, 1 hour before the close of the market that day. I sold middle of the day thinking, profit taking will take it lower. Boy, was I very wrong. It was one of those windfall profits type of trade too.
First of all, you need to focus more on your trading. Trading is a business regardless whether you trade to manage other people's money or you trade for yourself and it requires 100% of your concentration so you shouldn't be concerned about some freaking sirens going off let alone checking some scanner radios. When you are trading, the whole world should disappear from your senses and you should nothing about everything related to your trading in front of you. Second, regarding your losses, the only way you will be comfortable with your losses would be if you are absolutely confident, without a shadow of a doubt that the next win will always be able to cover all of your losses, no matter how many and no matter how large. If you are, then you shouldn't be questioning any of your abilities or your judgment. The fact that you still are makes me feel that you are not that confident in your trading strategy and that the mathematical game is not that guaranteed to always net you a winner. Imo, you should go back to backtest your strategy more and ignore the sirens and the helicopters.