I read this last night from The Psychology of Money by Morgan House -
"The more you want something to be true, the more likely you are to believe a story that overestimates the odds of it being true.”
and I immediately thought - That's me staring/analysing a chart for something I purchased which started as a day trade, morphed to a short term trade and is now long....
Today I sold the stock in question - I'm telling myself I'm not worried about it and I need to move on and I think I'll be ok because of the relief I felt the minute I sold.Lesson: - Risk management - stop losses are crucial especially for beginners.
- Forums
- ASX - Day Trading
- Day traders' after-market lounge July 28
Day traders' after-market lounge July 28, page-30
-
- There are more pages in this discussion • 18 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)