I used to be quick to take profit and not let winners run. I thought it was fine to miss out on some profit, and that can be true, but I discovered I was actually having an emotional response. It was rooted in fight or flight and me taking profit early was me wanting to “get out alive” and being fearful of losing what I had gained. I was actually missing out on a lot more profit that would cover natural trades that go against me and need to be cut. I also was building a bad habit and not trading as well as I could be. Sizing down for awhile and hiding PnL on my screen helped me overcome this.
“successful trading is not just about making money, but also about mastering the mental game.” Love this, gives a different very important perspective… thanks GP!
I used to be quick to take profit and not let winners run. I thought it was fine to miss out on some profit, and that can be true, but I discovered I was actually having an emotional response. It was rooted in fight or flight and me taking profit early was me wanting to “get out alive” and being fearful of losing what I had gained. I was actually missing out on a lot more profit that would cover natural trades that go against me and need to be cut. I also was building a bad habit and not trading as well as I could be. Sizing down for awhile and hiding PnL on my screen helped me overcome this.
I like trading 300 shares if I’m sizing down.
Love these updates in your new Newsletter, GP! Keep them coming!
Brett
Thank you so much, Brett. You’re greatly appreciated!
YES YES YES 🙌, Brilliant article GP thanks for sharing
You’re very welcome, Alan!
Fantastic article GP! Always have to keep the mental game sharp!
Thank u, Steven. Appreciate you.
Excellent info! The more you practice the better you get! Pillar #1: How you think is everything!
MFG 🖨️💸💸💸🔦
“successful trading is not just about making money, but also about mastering the mental game.” Love this, gives a different very important perspective… thanks GP!
You’re very welcome, Cheryl
Thank you! Mind’s gotta be right if you’re ever gonna be successful in the market. MFG is blessing the world!