Jagmohan Singh
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the art of booking loss & profit! (Js)

Jagmohan Singh at 05:51 PM - May 23, 2011 ( ) Views: 791

2

traders are great athletes as well as great spectators! 

when they run

they are a treat to watch........running like an obsessed creature....full of fear!

like a fugitive involved in a hit and run case!

 

and when they are not running

they are great spectators

cursing themselves as to why they are not in the race!

 

there are 4 types of trade athletes!

 

1. those who cut short their profitable runs but don't honour the stop loss hits

= typical newcomer unevolved trainee trader driven by 'fear of booked loss' and 'fear of loss of profit'. such traders keep ringing their piggy bancks with coins till one mistake gets the better of them. still, a good, necessary and inevitable phase for any new citizen of the market.

2. those who cut short their profitable runs but also honour the stop loss hits 

= the first conscious effort of the budding trader. though he still can't overcome the fear pof loss of profit, he definitely doesn't fear booking the loss. such traders are less as this is more of an ideal state of a trainee mind. moreover, this requires excellent command and trust on one's method which is generally not the case so early in training career.

3. those who not only let their profitable trades run but also don't honour their stop loss hits

= a wealthy newcomer who has got skin thick enough to bear the loss of accrued profit but not thick enough to accept that his calculation can go wrong. they win big and lose it all.....and finally blame the market.

4. those who let their profitable trades run till indication of trend reversal but honour their stop loss hits.

= matured seasoned silent emotionless egoless boring money machines. this stage comes with time but does come. 

 

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this post dedicated to sim stanley - the stalker of mudraa with sharp, witty and intelligent one liners!

to sim = ur following comment made me think and write this post!


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From : Sim Stanley at 03:21 PM - May 23, 2011 (2 hours ago)

 

in trading people shows patience when the SL is hit, not waiting for targets!!! very strange


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Julius Jr at 05:59 PM - Apr 13, 2015 ( )

Good One...

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