Looking Risk Right in the Eye When Trading
Received a nice email that I thought to share…
I am really appreciating what I am learning from you. Before I thought, “Wow, I just bought a stock and it is up 5% in a day, fantastic.” But now I see, “Wow, I am still at risk in that position if it doesn’t work relative to the stop loss.”
Sure, I can close all my positions and take a profit, but then I am out of the market. If I want to stay in the market in order to increase my assets over time, well then I have to look that gap between entry price and the protective stop, right in the eye!
I like that you used “if it doesn’t work”…any trade does not have to work simply because we put the trade on…