We hate to lose so why do we do it when we trade? Of course, I am not talking about stopping out. I am talking about the KILLER PUNCH where you blow you profits for the day, week, month, year on one trade.
Instead of thinking it's a loss, consider thinking you are "pausing" your trade.
You go long.
Trade goes against you10, 20, 30, 40... instead of thinking you are now going to exit with a loss, think you are putting your long trade on pause by exiting the trade, letting the price continue to drop and then putting on a buy when price reverses back up to where you exited.
If you are in a new town and you are not familiar with the buses and you get on the bus heading south when you meant to get on the bus heading north what do you do? Ride the bus all the way to the end of the route and wait for it to turnaround? Of course not! You exit and get on the bus heading north.
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