Risk management techniques

Why is that? What is stopping you for closing your position?

 

I'm not sure, but perhaps greed? I continuously delay closing the losing position because something in me says, "just wait one more minute, it will be better," and as expected, it only gets worse.

 

Now that you know that just change your behavior. Don't focus on the money, focus on the process!!!

 

I know what you're cooking but it's easier said than done. in the moment, the greed (that sound) just take over the control.

 

Get a friend or someone to watch you. Tell them what you plan to do. If you don't follow the plan then give them a hundred bucks.
Just writing the plan down will make a difference in how you operate.

 

Yeah, it sounds like a good idea. I should give it a try. Have experienced the same thing before?

 

Is that a question?

 

yeah, it was, my bad. sorry.
so, have you experienced the same thing before?

 

When I started trading I had discipline issues. Once I took the time to write out a trading plan and focused on following the plan, things got better.
Watching the total portfolio value rather than each trade also helped.

 

%%
One of the better ways to risk control/ not that the markets are a bet\ they are not.
And i add a bit more to that +about 1% to all those, with slippage.....................