If you'll keep doing this: (woulda, coulda, shoulda) Its going to be a long learning curve read my signature line and here is some wisdom: concentrate on your exits, exits are much more important than entries.
no matter what you must use good entry points. what good is an exit wit no $$$? you can have an exit strategy all u want 2 but u will keep losing if you dont got no good entry. if u buy at da bottom and the market is topping out it does not matter where you get out at da top. if u buy at da top den u done messed up dude so what da fuck? keep 2 yo strategy hommie. keep it real
Very true, thanks. I have a good system down, I just need to work on myself. Good words about exits, so very true. Exits are what rings the cash register or hangs the noose on our heads. Good Trading
I am very happy with my entry points, but I understand your point. My entries are great, harvesting profits are no problem. Where I have an occasional problem is keeping losing positions a bit too long. I just need to bail at my stop and not look back.
In this category I also put trades that start out with a small profit but then turn south. I think it's important to find out the mechanics involved here in order to progress. Here's what i've found so far. I've gone through several stages, something like this: [1] Holding on due to ignorance [2] Having a system that says to get out, but going against the system [3] "Coloring" data according to my position. For example, if i'm long, i'll find the one or two pieces of data that support being long and stay in, and ignore the 17 pieces that say get out. I'm currently working on getting out of stage 3.
Pete, #3 simply describes the method you use to violate #2. It's better known as "cherry picking", selecting from the array of info you have that which provides the possibility of making you whole on the trade. You are playing head games with yourself. You're dating twins and can't make up your mind. Marry one , a life of trying to run in the mud, marry the other, a life of the wind at your back. Go to a natural place, the ocean, desert, mountains alone and comprehend the rythm and persistance of it. Recognize that all there is is time. It can't be stopped, in the end we have only one choice, to use time and suffer the fools who don't understand, or allow time and the culture to use us and live that life of quiet desperation of which the pond guy spoke.
Just covered my TQNT short for a 6.57% gain a few minutes ago. It may have more downside, as my system did not flash a "buy" signal, but I have an additional project at work today. Good Trading...
Hi Pete, I often fit your number 2 and know it is something I have to work on. I kept my system simple, away from a number 3 situation, as I could see that happening to me too. Good Trading to you