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Chris Henderson wrote:
snip-snip-snip
"... For three years I have been trying to achieve emotionless trading.
I'm getting better, but the dollars still hurt a bit as they leave..."
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I cannot recall who said it at last years TAG seminar, but it sure had a
profound effect on me: "The sin is not in being wrong, the sin is in
staying wrong"....this takes the personal aspect out of the trade.
Those dollars leaving will always have a tendency to cause pain and
suffering. The only thing worse than closing a position with a $500
loss is watching that loss double the next day. Now THAT is nausea!
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"... I recently read an interesting study which the list might like to
know about. In a long out-of-print book called "Too much invested to
quit" If losses are not regained then (when about half the remaining
funds are left) economic considerations become less important and a
competitive goal of beating the opponent takes over - even
to the extent of bankruptcy.
>
> Key finding was the apparent need to reject actions which became
> meaningless - we would rather re-define a situation than accept that we were wrong. And go bust doing it." <See comment above>
Al Taglavore
>
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