@slick I admire your courage to aim for a better profit , considering the times we are trading in. To increase your profit , you will encounter fear . The problem with holding long, to get that secondary rise is, that those cliffs are scary , and sometimes lonely , as you are dependent on your own signals rather than that of the cheering crowd . We have to work out , do we trust our signals or not - and study till we trust them. You will have to endure shakeouts to stay in. We are often easily spooked into selling. In the uptrend, instead of looking for signs of danger (as it will look dangerous), it may be useful to look for signs of safety . Being able to spot the difference between a pull back and distribution would be key .
When I get to a spot in the chart that I don't have my signals worked out yet , I am content to sell.
My belief is that I have only earnt the right to make money on the chart to the point that I can read and predict the chart. If I get out and the chart goes up higher without me , then that was never my trade , as I didn't predict that that would happen. Oneday when I can predict it , I will take that part of the rise also . This thinking helps me to still feel good about the portion of the chart that I have accurately assessed and made profit from. And to be content with the progress that I have made - till I can study more .
Well done slick for increasing your profit . Hope to see you up on those parabolic cliffs. Hopefully I will get there oneday too.
