Your psychological fortitude plays an important role in all aspects of your trading and investing, so ensure you work on it. Your emotions will do everything they can to keep you in a losing position and get you out of a winning position.
You are your worst own enemy and, generally, what you feel is the correct thing to do, is the wrong thing to do. Taking a quick profit may feel right but it skews your ability to be a solid long-term winner.
Quite simply, you need to run a trend, not cut it short. You need to cut a loss as quickly as possible, not hope it will come good
Source: Successful stock trading by Nick Radge
You are your worst own enemy and, generally, what you feel is the correct thing to do, is the wrong thing to do. Taking a quick profit may feel right but it skews your ability to be a solid long-term winner.
Quite simply, you need to run a trend, not cut it short. You need to cut a loss as quickly as possible, not hope it will come good
Source: Successful stock trading by Nick Radge
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