For a trader, winning is extremly dangerous if you haven't learned how to monitor and control yourself.

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Tuesday, April 21, 2009

Trading Puzzle

I have been busy with US mkt till now. I had exactly 10 positions both calls and puts before market open, which was entered most on Friday. i got to quickly check through those calls and close out them if they were dragged down too much( well, these are strong uptrending stock, by now i decided closed out all of them since mkt so bearish, and can buy back later ), and let my puts run all the way down... overall i still got stunning paper profit till now.




i feel em facing the puzzle of taking profit, if i can improve my profit taking properly, my profit at least can be double as compare to what i actually got. in other words, i lost at least half of my total paper profit due to the poor exit point, it's annoying. Now What i'm trying to do is to force myself to take profit on strong trend, either up or down.

And force myself to trade only on what i see. understanding fear often accompanies reversals in my favor and hubris often accompanies reversals against my positions. I'll be much richer if i can follow these rules strictly.

and, last but not least, is to keep a peaceful, relaxed state of mind...bed time. nites!

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