Ditto. However, we all can't be winning unless we're beating up on fund managers. I shorted right before a bull trap and closed it right before a 2% drop. This seems to be the way my worst trades are right now. I get upset too when after I close it starts to drop. I then don't have the discipline, yet, to get back into it.
Sorry I meant in the past month, actually 5-weeks, 4-July -> 9-August. Really 70% from 4-July -> 4-Aug. Well, I may be setting myself up for a good beating, but it'll be a learning experience, eh? Yeah, I try to limit my losses as much as possible, but it's been really hard compared to equities where I can set close sell-stops. By the time I react with futures-options, they've really moved against me. My only saving grace is I've been doing a lot of spreads & straddles, so my risk is the gap between the positions (and a little beyond to cover the losing side). Well, I'd rather look like a jackass than lose money. If I do something stupid, let me know before it's too late, eh?
1) Take an early fixed profit. 2) Move your stop to breakeven 3) Let the rest ride a pre-determined trend keeping indicator
I agree wholeheartedly. FWIW, imo learning how this affliction fits into your [psychology of] trading, is the Holy Grail. In fact, in a weird way, imo almost all trading problems can be rephrased in the language of how to deal with this situation. nitro
I find the hardest thing in trading is to not trade. Honestly, doing nothing makes money for me. I'm studying this fund DODGX. I calculate DODGX has a cumulative annual growth rate of 92 % and a turnover of about 15 %. The managers don't sell often. Returns are high. As I think back on my trades since 1990 it was the positions that I held for years that made most of the profit.
Agreed, OP says he's able to take a 1% stoploss after open, so he should treat the open position as a new one every minute/tick/volume-bar and replace the stoploss. Ursa..