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Hold Winners Longer With Proper Sizing
- Stay with winning trades and size positions so you can endure volatility while letting winners run.
- Avoid closing winners prematurely out of fear; position size to tolerate overnight moves.
Loss Fear Outweighs Winning Pleasure
- Fear of losing often outweighs the joy of winning by several multiples and drives bad decisions.
- That emotional imbalance can cause traders to offset profitable positions prematurely.
Use Stops And Data, Not Intraday Control
- Don't trade intraday timeframes to feel in control; use protective stops and accept delayed quotes if needed.
- Test the data to see if buys in uptrends typically open with or against you before changing behavior.