markcrisp
187 posts
msg #44743
- Ignore markcrisp |
6/8/2006 7:08:05 AM
The fact is there is no prefect exit method. Simply go along and give back some profits. Living by the remark
"Be prepared to give back a good % of your profits..in the HOPE of bigger profits"
The number of times I hear peopel saying "I cashed out with 20% profits...I'll get back in on the dip..."
Plain bad trading.
Most people should stop trying to find this Holy Grail and start leanring the basic principles of trading. Then learn to devlop the discipline to follow them.
1) KISS
2) Follow the trend/money/accumulation
3) Cut your losses
4) Take low risks
5) Let your profits run
That's about it. SOME Fund Manages/hedge funds make billions $$'s following these basic principles. Funny how the retail guys are the ones who keep looking for the Holy Grail and are the ones fighting for scraps. You'd be amazed how simple some of the top traders keep it.
Successful trading is not about intellect but about mastering emotions.
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nikoschopen
2,824 posts
msg #44754
- Ignore nikoschopen |
6/8/2006 11:37:58 AM
You've just made a sweeping generalization about trading with a very wide brush. Not everyone can and will paint with a wide brush alone. Plus, if it were that easy we'd all be joing TRO at his paradise ranch.
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EWZuber
1,373 posts
msg #44784
- Ignore EWZuber
modified |
6/9/2006 5:19:38 AM
Mastering emotions can be important but that alone will do you no good if you don't have a trading strategy that you rightfully have complete trust in.
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