|PDF Title||:||Trend Trading – A Seven Step|
|Author||:||Daryl J. Guppy|
|Total Page||:||439 Pages|
|PDF Size||:||12.5 MB|
|PDF Link||:||Read and Download|
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“Some of these big-time losing trades may corne from stocks where prices gap dramatically below our stop loss point. There are early warning signs but they are too frequently ignored. Instead, when the stock price plummets many traders and investors go looking for excuses to stay with the trade because the size of the dollar loss was so large they found they could not act.
We all have a dollar point beyond which we freeze. In the diagram this point is $1,000. In bullish market conditions we expect a fairly high success rate with trades. We may move from an experienced trader to a skilled trader without ever fully realising our growing inability to act once the dollar loss grows beyond $1,000.
The clues are there, but we do not want to sec them. The clues include losing trades where the exit has been deferred. It includes one or two trading ‘mistakes’ where an exit was ignored because we felt we had placed our stops toO tight.
Inevitably there are times when we feel we are on top of the market so when the market does not behave as our trading plan has anticipated, we decide to hold onto the stock. One of the hidden reasons for this action may be because the dollar loss is greater than our tolerance level, even though it is within the 2% rule limits.
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