Lets say you have a trade opened & its profitable. all going to plan. then you get greedy. over boastful of your legendary trading skills. you ignore the original trade plan, you devise a better plan to accumulate more profit. you dont respect your previous profit Targets, & you keep the trade running, eventually you becoming forgetful of the market nature & trading. The market turns against you & you are left wondering what went wrong. Has this type of trade ever happened to you? it happened to me
Greed is what always kills your trade. Hoping the next day it will turn around and never does.
greatful-me
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@R5turbo2, true words. “Be fearful when other people are greedy”. Famous words by W Buffett
aryanezhad
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Hi. Im beginner. Can you explain about cvr and lng.? Or introduce a reliable source for learning more?
greatful-me
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@aryanezhad, we all had to crawl before we walked. In my trading documentation i use abbreviations like LNG to open a long position/trade SHRT to open a short trade CVR to cover my position. Sell or buy back my position, whatever is required to liquidate & cover/ close the position PT are profit targets for the trade