"You are in a losing trade. You are near your stop loss. You cancel your stop loss and practice self-deception by muttering, 'Let's just watch it.' Maybe you give this instruction to your broker. In short, you have a mental stop. The next time you utter "Let's just watch it," you had better watch out. There is a steamroller coming your way and your name is engraved on the front roller in red letters." -- Tricks Of The Floor Trader
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Yes, I did quite a bit of that years ago.
But then I learned to embrace my losers, to understand them, to .......
..... no, that's a lie......that's Total B.S ..........I hate losing.....I hate cutting trades short and getting forced to regroup and start over.
But I do it. There's no easy way out.
You know when you should be killing a trade, right? Absolutely you know.
So get it over with already.
That's all.
Ok, that's my rap for tonight, and I'm going right to Charts Of Interest because there are some very fascinating items on my list.
Have a restful night and I'll see you in the morning.
.
Stephen
S&P 500...click to enlarge
Amex Oil Index
ExxonMobil
Oil Service Holders
Philly Housing Index
Mertitage Homes
Titanium Metals
Precision Cast parts
Best Buy
Genzyme
Arch Coal
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