I'm pretty new to trading. Only a few months, but I can recognize a trend. I plan to stay in it until it breaks, and will prob take some profit around $12k, expecting a (short-term) correction to re-accumulate. Interested to hear any feedback. Thx!
“Wow, you really nailed it, Eric! So, you prob didn’t get greedy then? And you took profit right when it hit $12k, is that right? There’s no way you went against your own “published” Plan—right??!”
(That’s “current me” talking to “past me”, btw. Ugh. I guess in order for a “Plan” to work, you’d actually have to “follow” it, huh?)
Well, I’m happy I was right. I’m not so happy that I couldn’t take profit when I should’ve. Still in the game, though. Glad I’m still too dumb to play leveraged markets. 😒👌
@ericpaulmangin, Great stuff. Allow me to rephrase what I picked up above. "I see trend trading as my strength" (a good start and it might be what you will stay or not, but work on your strengths first). "I had a plan, unfortunately I did not think it through to an extent that I took profits at target" (you have the option to take only some profit if getting there and then see where things are going).
Do you see how far ahead you are compared to the guy who just bought and is hoping that the price will go up? Do you also see how your idea was valuable to others, but the real value was in your honesty after the idea. Thank you on behalf of hopefully many who will read this in future.
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(That’s “current me” talking to “past me”, btw. Ugh. I guess in order for a “Plan” to work, you’d actually have to “follow” it, huh?)
Well, I’m happy I was right. I’m not so happy that I couldn’t take profit when I should’ve. Still in the game, though. Glad I’m still too dumb to play leveraged markets. 😒👌
Do you see how far ahead you are compared to the guy who just bought and is hoping that the price will go up? Do you also see how your idea was valuable to others, but the real value was in your honesty after the idea. Thank you on behalf of hopefully many who will read this in future.