DislikedI wanted to crystallise a few thoughts floating round in my head by writing about them and hopefully it'll help others too.
We all want to cut our losses and let our winners run. That's the key to trading right? But people say it like it's as easy as throwing a switch. It's not. It's a bit like when I work as an actor and I get told by a director to "be in the moment". Yeah. Great. Now tell me how.
Because there are arguments on both sides here. Look at that recent GBPCHF pinbar long that reversed at the highs. And the weekly AU and GU. These...Ignored
My litmus test is "Can I put on this trade and walk away?" Hell, there are times I don't bother checking for 2 or 3 days. Why? Because I don't trade for another job. I have one already.
The fact that I doubled the amount of money I made today (adding work AND trading) is what trading's about.
I also woke up this morning up $300 from last night's Hong Kong trade. I still don't know the name of the company.....the stocks are listed as numbers. Odd really....but that's not why I trade.
There are so many more important things in life than trading. Trading can teach you a lot about life as well. Use it as a blessing, and never take it too seriously.......
As far as trading and moving stops to break even right away is concerned: I always thought like this: "What the hell am I doing taking a trade I don't believe in?" If I lose, it's 1%......big deal.
CW
BTW Tia - I think you are on your way, you are asking the right questions.