Thursday, March 30, 2017

Flipping the trade

Sometimes shortly after entering into a trade the price action suggests that I'm on the wrong side. Sometimes the feeling of being wrong is very strong. I have such a conviction that I rarely experience when not being in a position. The best one can do in these cases is to reverse the trade with no hesitation even if it requires realizing a loss. I need to put my ego aside by quickly admitting that I was wrong.

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