Which one is feeling worse?

Discussion in 'Psychology' started by jm73, Apr 21, 2006.

  1. jm73


    #1 the trade you closed with loss


    #2 the trade you missed

    To me...

    I feel shitty when #1 happenes.


    I am pissed off and feel shitty when #2 happenes.

    what about you?
  2. Paper profit turns into a realized loss.
  3. Neither choice should make one feeel bad because they're both correct and normal.

    This is what should make you feel like shit:

    #1 A losing trade you stubbornly keep open

    #2 A trade you missed because you thought too much and didn't act.
  4. no single trade should make you feel that bad. If you are following your plan and the overall numbers are bad..then its time to feel like crap. Back to the drawing board.
  5. It depends. Actually, a small loss is okay by me. It means that I am able to trade the right way which is get out when you are wrong!!! What is worst is when I second guess myself and lose discipline and end up with a much larger loss.
    Sometimes, you want to kick yourself when you get out of a winning trade which turns into a great winner. Got into ATI DJ (ATI) at $3.70 (5 contracts) and sold at $7.40 which is not bad.
    However, ATI DJ is now at $22.00 and change. Now that is a bummer.
  6. What really depresses me is doing something stupid, something not in my plan. After 5+ years I still do it occasionally.
  7. DJR


    as per above....not sticking to the plan.
    jesse livermore - " a loss never bothers me after i take it. i forget it overnight. but being wrong - not taking the loss - that is what does the damage to the pocketbook and to the soul"
    i think you can equally apply this to taking profits prior to when you know you should. just to make yourself feel better.
  8. Easier said than done.