http://www.premiertraderuniversity.com/ptucourse -- PTU Trading Course!
All data on your charts is historical – you’re only able to assess what has happened already. As smart as you are you can never really know who is sitting ready to act and so a big trade or unexpected event can change everyone’s perspective of what a fair price currently is – regardless of what has traded before.
Then there’s the fact that the market can make you wrong for a tick whether or not the concept for a specific trade was valid or not. Until you’ve closed the trade, you cannot be certain that it will achieve your profit target.
So if we know we will be wrong at various points in our trading, then what’s the reason why we often see traders having a hard time in “letting go” of unsuccessful trades? Surely by knowing that we are all but certain to take losing trades on any given day, it should be easy to just click the mouse and exit the trade, right?
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