The longer you hold a losing position, the more you identify with the trade. Admitting you are wrong feels like admitting a character flaw. So you hold. And hold. The loss grows. Eventually, you are no longer a trader; you are a hostage to your own pride.
Because very rarely—almost never—do those two sentences co-exist. Being Right Or Making Money Pdf
Write down the last three times you held a losing position too long. Ask yourself: The longer you hold a losing position, the