Checking Out Too Early

Posted by Deb | Day Trading Journey | Thursday 29 April 2010 8:43 pm

 

Fear is my biggest enemy.  Sometimes it is useful, it makes me cautious.  But it also makes me loose so much!

When I enter a position and the market goes against me, I don’t want to loose and move away the stop loss (I know, I know, I shouldn’t be doing that! ).  That’s how I lost $1,000 the other day.

But when the market is hesitating, going up and down, that’s the problem.  I am almost sure the breakthrough is coming.  Soon the market will go my way, soon I will have a big profit.  But then I am afraid:  Maybe the market will go the other way?  Will I loose?

Then I hurry out of the position too early.  I earn one pips, two pips.  Maybe 4 or 5.   I cash my profit, sigh, and look back:  Oh!  Now I could have earned 6 pips.  10 pips!  12 pips!  But I am out already.  Too bad!  Arrrggghhhhhhhhhhh!!!

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1 Comment »

  1. Comment by best online trading — June 28, 2010 @ 7:56 pm

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