"Pip Obedience"

Awhile ago, SeekingLight posted several responses regarding a trader wanting to impose his/her will on where the market goes after a trade opens. What a great topic for a thread!

SL and I have never really agreed on much, but I get behind him 100% on this one.

We have all been there.... emotionally attached to the market's every tick, once our money was put on the line.

It is a great place to discuss the trader's ability to divorce himself/herself from the trade once it opens, and let what will be will be.

And it is also a great place to accept that the market never cared about your setup, fibonacci level, or stop loss. It simply had its own agenda the entire time.

Pip obedience. Haha, love the title.

Definitely been there. Especially in a position type trade, the U/Chf over about 3 weeks, it seemed like every time I looked at the chart I wanted to get out. These days I'm not as stupid and I plan when I'm going to exit, but no doubt I will come across another situation where it will happen again.

1) Reminds me of Livermore saying something to the effect that the only way he ever made money was by "sitting". That being said, it seems like managing trades based upon how things pan out is a good thing.

2) I can't imagine anyone who has actually made money trading arguing with this. Unless they made it by (one of tdion's favorite topics)...getting lucky.