What a very interesting sentence in Jazz's post no. 4039.
'it can be hard to get rid of 'old behavior' and to get the trader mindset correct.'
How true is that? We look at what the chart is telling us but we don't believe it or read it correctly because that's not how we have traded in the past. We need to erase the past from our minds and come to this method of trading from Alan's perspective.
Do you know what is holding me back from being profitable (and I bet most traders here?) Having the inability to get out of a losing trade. Saying to yourself the stop will be hit as its a bit close so I'll move it. Lesson to me. I must learn to use and understand tight stops. Plus, I must get out early from ALL losing trades.
'it can be hard to get rid of 'old behavior' and to get the trader mindset correct.'
How true is that? We look at what the chart is telling us but we don't believe it or read it correctly because that's not how we have traded in the past. We need to erase the past from our minds and come to this method of trading from Alan's perspective.
Do you know what is holding me back from being profitable (and I bet most traders here?) Having the inability to get out of a losing trade. Saying to yourself the stop will be hit as its a bit close so I'll move it. Lesson to me. I must learn to use and understand tight stops. Plus, I must get out early from ALL losing trades.
2