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[Metastockusers] New tip



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The basic failing of most traders is that they put a limit on their 
profits and no limit on their losses. A man hates to admit he's 
wrong. Therefore, an individual will often let his loss ride, 
becoming larger and larger in hopes that eventually the market will 
turn around and prove him correct. Then after a while, he begins 
hoping for a small loss and gives up hoping for a profit. Human 
nature also dictates that an individual wants to take his profit 
right away and thus prove himself correct. There is an old 
saying, "You never go broke taking a small profit." If you are 
correct when entering a speculative situation, you will know it 
almost immediately and will show a profit quickly. However, if you 
are wrong, you will show a loss and you should remove yourself from 
the situation quickly. Taking a small loss does not necessarily mean 
you were wrong in your thinking. It simply means that your timing was 
perhaps incorrect and that you should wait for the correct timing and 
situation to allow you to reenter the market. Remember, in any 
speculative situation, the market is the final judge. An individual 
must let the market tell him when he is wrong and when he is right. 
If you show a profit, ride it until the market turns around and tells 
you that you are no longer right, and, at that time, you should get 
out. On the other hand, the market will also tell you if you are 
wrong and it would be a serious mistake to argue with what it is 
saying.

http://clix.to/wallmann



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