Hi guys happy to be online again. We had a nasty power issue here since Thursday that’s kept me from trading and coming online.
@Moty, sorry for what happened to you. I actually wanted to advise you on Thursday I had the power issue. But let me just go ahead with it to forestall future occurrence. I know I’m a newbie in trading and don’t have enough experience to advise you but I have actually ready Mark Douglas'(God rest his soul) books several times and watched a lot of his videos. I’m sorry to say this but in you I saw the perfect example of what he calls “TYPICAL TRADER”, an embodiment of what he said any trader aspiring for consistent results should try to avoid.
Trading is not a right or wrong game nor a place to prove a point. There’s nothing wrong in taking a loss and moving on. By taking a loss, your mind will be clear to spot the next opportunity when it occurs. But when you don’t, what you will be seeing in the market will be different from what the market is showing you. (Luck bailed you out on Wednesday evening but you failed to take that opportunity and get out of that trade. I was so surprised Thursday morning when I saw you’re still on that trade). Please may I advise you read “Trading in the Zone” before coming back to the market again. Best of luck man.
On the other hand, I must say that I admire Ata’s trading. Risk is defined and if trade doesn’t work, he takes the loss and moves to the next opportunity. Just like Mark Douglas advises.
@Ata, I really aspire to get to your level of emotionless trading. I still have fear to enter a trade and fear in letting profit run. Hopefully I will overcome that soon.
Happy weekend guys. Enjoy.