Discussion in 'Psychology' started by Kovacs, May 27, 2009.
Let profits run.
Cutting losses? Piece of cake.
wtf is an "edge" i mean when i think of the word i think of a secret that no one else knows, you know kinda like a trade secret.
I'm not qualified to voice an opinion as i just started but isn't the #1 edge all traders need control over their emotions. I'm sure the profitable guys on here could show some net losing traders how to exactly do what they do and most wouldn't be able to reproduce profitable results.
Being able to take losses and using vast sums of money without having a heart attack.
I second the motion. Pulling the trigger was my biggest problem. I had real losses a couple years ago and it had been hard ever since. Getting over that was my greatest tribulation.
I learned to cut losses quickly & well after learning about support & resistance. Before that I was using tech. indicators which required large stops.
Letting profits run & not fearing that the trade MAY become a loser is a master skill...for me it was the last one.
Being profitable PRESUPPOSES you have an "edge," or an approach that produces positive expectancy & is consistent.
Me, myself and I
I had to master how to turn off that TV for good and don't listen to talking heads any more.