Tuesday, April 15, 2008

The Quote of the Day

The Quote of the day is quite accurate in my mind. How many times when trading do you cut a trade (after a long painful run) to find it to be the top or bottom. For me this happens quite a bit. What I mean is when you run a possision for an extended period of time and it is moving against you, the time you deciede to cut it out is invariably the top or bottom. I must admit it is a very good feeling when you finally make the decision to cut a bad position. AAAHHHH.... Relief. I think the secret is not to get to that point. Do not allow a bad position to linger (I say this as my shoer Usd/Clp position continues to creep higher !!). Cut it before the stress is to much and you need to pull the escape cord.

Easier said then done but it is a vital element to being a successful trader.

Good Luck and Good Forex Trading.



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