MARCH TO YOUR OWN DRUMMER Think and Trade Like a Champion

Only frustrating when it stops you out and reverses to go straight to the moon.

I've learned to make friends with SLs. Use to hate it when it happened but now I find that it usually keeps dropping below my SL and that's always a confirmation I did the right thing! ;)

Yep. Just punch me in the mouth and knock me out quick instead of kicking me in the shins repeatedly for days/weeks!

Perfectly stated. Plus you learn about your trade & the mrkt as it is an indicator. One of the simplest & best things I learned fr you is that trades are my leading indicator-I use breath & other risk/reward ratios to take the mrkts temp but there’s nothing better than bottom up!

I have a plan for the max duration my trade would stay in lose before closing it manually. Previous experiences has proven trades dancing around entry for a long time tends to end in lose in the long run. I've learnt my lessons and I've built an edge around it

This is a great mindset! This is something I learned today. Thanks

Celebrate when losing small amount, learn from your book .

Excellent mindset, Mark! How long did it take you to totally accept this Trading Truth?

Yes I love compounding losses, that’s been working real good so far lol

@readwiseio save

I'm facing when i buy it doesn't go anywhere for some days (doesn't give follow through) test patience than after some time hit my sl of again move up but not give follow through

Hold the winning trades, not the losing ones.

for me, I question if I used too tight stop or improper entry etc

My biggest mistakes are always not stopping out my losers soon enough or holding them for too long just to get back in the money.

great advice!

So am I 😱😂😷

Once you take a position in a stock where do you usually set your stop loss?

What a great way to look at it!

That’s an interesting point. Thanks for the advice 🙏

That’s the thing though, nobody can catch the bottom consistently, so as someone who doesn’t put a lot of faith into TA a stop is has a high chance of being triggered.

You’ve got a scamster using your name.

But Mark, what’s worked in the past won’t necessarily work in the future and what hasn’t worked in the past won’t necessarily not work in the future.