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Kate:
Many traders fall into that old American game of
being right all the time. Number one is the only answer. The answer
is that you are in this business to make money, not to be right. Any
system, even if applied perfectly, will have losing trades. A
losing trade is not a personal failure, it is part of the business.
An example. Tennis is both a sport and a
business. The same with golf. Individual sports where
professionally huge sums of money are at stake. It is very seldom that a
tennis player wins six love or a golfer doesn't have a hole that he
bogies. Yet the winners and the top players all make substantial
sums of money each year. Phil Michelson has never won a major golf
tournament and I bet that most would do anything to make his annual
income. IF every business operated to perfection there wouldn't be sales
at department stores or bankruptcies. So perfection is not something that
is attainable in many areas, So accept your losing trades as part of the
business.
----- Original Message -----
<BLOCKQUOTE
>
<DIV
>From:
ketayun
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, May 01, 2003 5:13
PM
Subject: Re: [RT] Actually trading the
analysis
Hi Arthur,Of course I could put a stop loss and an exit
price but there have been days when the internet connection would cease or
data lag or, or...... and severe losses resulted while I waited for a sound
alert, so walking away is not an option any more.The fear of losing is
always there but I think even worse is equating it with being a
loser:).However after today's posts from yourself and others, I
believe that better trades are in the making.Good
Trading,KateArthur Marcus wrote:
<BLOCKQUOTE cite=""
type="cite">
Hi Kate, you say that you would enter on your first signal. Does
your system give you a protective stop once you enter. If it does,
then why not hold your position until price hits your target or until it
hits your stop. Is there a reason for going flat other than
fear? Has something changed in your analysis to make you go
flat? Or, if your system doesn't provide a stop, maybe you might work
on that end of it. Since we all deal with the fear of losing, I've
found that most of the time, the best thing to do is put in your protective
stop and your target price and walk away from the screen. Good
Trading.To
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