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Was it you or your system that broke down. You shouldn't have to say after 8
points I quit. Did you trade your feelings or what your system told you to
trade? There is something basically wrong here and it is either you or the
system. There is no solution without a lot more information. Ira.
Brian Keith Voiles wrote:
> I have a question: At what point do you (meaning everyone in general)
> call it quits for the DAY when you're losing? And how do you
> discipline yourself to actually stop and quit, and not try to "make it all
> back"?
>
> I'm wondering because I had a great week in the S&P this week, up
> until today. Monday was a 3-point gain, Tuesday was a
> 5-point gain, Wednesday was a 9 point gain, and Thursday was a
> 9.5 point game. Now... here we are on Friday... and I lost 19.7
> points (ouch!). So grand total I made 6.8 points this week on
> 18 trades... a net win of $1232... but could'a been a lot more if I
> hadn't responded so emotionally today to this:
>
> My first trade today missed the limit by 1-lousy tick.... then it
> turned around and hit my stop -- minus 4.7 points. Second trade:
> the same thing happen -- minus 5.5 points.
>
> So those two events got my emotional-juices flowing. But, you
> see, I have a written rule staring me in the face that says
>
> "REMEMBER: a loss of 8-points and you're done for the day, no
> matter what!"
>
> So I ignored it. Here I am after the session realizing that may be a
> rule I can't live with. After-all, I'm the "come-back king!".
>
> Well, I'm looking for all you "old-timer's" advise on this. What
> rules do you follow and how do you mentally and emotionally
> disconnect enough to quit while the losses are "small"?
>
> Thank you,
> Brian Voiles
>
>
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