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Strategies & Market Trends : Trade What You See, Not What You Think
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To: Threei who started this subject12/8/2000 7:57:51 PM
From: chris-  Read Replies (2) of 867
 
Letting Profits Run Part 4

Will you take the faster profit for the right reason? Yes
Will you let the profit run for the right reason? Yes
Will you cut the loss without regret? Yes
Will gains make you happy and losses make you sad?

As much as I like to say the best answer is that it shouldn't, I often find myself struggling with this emotion. Not so much happy or sad, but confident and passive. In times that I feel passive or my ego was checked again, I look for risk/reward scenarios of 1 to 1. Meaning if my stop is 1/4 point, I will take a gain of 1/4 or better. As my confidence rebuilds, I will begin to look for higher risk/rewards. <As long as the trade tells me this is the way to trade it.>

To summarize this discussion. Trading is a part of you and your personality on any given day. The method will allow you to see things such as pivot points, resistance levels, support levels, etc. How much you decide to take on any given trade is a result of how much you are willing to give yourself based on whatever reason. Develop your personality in conjunction with your method, whatever that method is, TA, tape, etc. And you will begin to know when it's time to take faster profits and when it's okay to hold a bit longer.

Respectfully,

Chris
RealityTrader.com
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