Received 3 Karmas
Zenyatta
1
Zenyatta Dec 01, 15 10:23 PM

Everyone gets shook out of positions now and then. If you are respecting stops, that is good habit. But many times I have no good reason to close a trade. Now I use an hourglass to make sure I stay in for 5 more minutes (or until stop is actually hit).

Tunde1306
1
Tunde1306 Dec 01, 15 11:55 PM

That's actually not a bad habit to have. I wish I had a "Cut Losses Quickly" problem. It would have literally saved me $2000 but hey, I hold and hope and end up losing 40,50,60, and even 100% of my money on certain trades. Don't be upset about youur cutting losses. Take pride in it. You can never really 100% tell for sure that the stock will spike right after you sell. All you can do is say, "Hmm, this stock isn't doing what I want and the momentum sucks so I'm out".

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