Thought of the Day...
"When I get hurt in the market, I get the hell out. It doesn't matter at all where the market is trading. I just get out, because I believe that once you're hurt in the market, your decisions are going to be far less objective than they are when you're doing well... If you stick around when the market is severely against you, sooner or later they are going to carry you out."
- Randy McKay
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Comment by UmairButt on September 21, 2012 at 6:37am -
yes agree we should b out at that time because revenge will work against us. better is reload yourself like market does with knowledge to your existing mistakes and attack with new skills.
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Comment by 50Pips on September 21, 2012 at 6:39am -
all about staying focused, unbiased and Zen ;-)
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Comment by neel chak on September 21, 2012 at 7:01am -
Market mantra....
if you are gaining ==greedy ,you will losse
if you are loosing ==revenge ,you will loose,
so ...a mid level of psychological balance is needed for a professional trader!
enjoy!
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Comment by 50Pips on September 21, 2012 at 7:05am
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indeed, lovely summary ;-)
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Comment by Jason Justin Macko on September 21, 2012 at 11:23pm -
I agree to a point, but if I agreed to the full extent, I would have missed so many wins over the last few months. When you lose: Sometimes you call it a day. Sometimes, you keep looking and just watch. Sometimes, you suck it up, and start looking for new opportunities. Sometimes, you make a great trade makes enough new money to replace the lost money and then some.
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Comment by Splithand on September 22, 2012 at 4:17pm -
Stop Study Plan whenever I encounter a substantianl loss there in lays my cread great thought process is in this string
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