taking profit is so underrated man. the feeling of realizing your gains is so good, and feeling good = taking better decisions!
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Another perspective: https://twitter.com/LightCrypto/status/1053396919291179009 … The mirror of why people hold on to losers for too long is that people hold on to winners too little. Gains feel good, so we may be more inclined to realize them before the EV-maximizing price.
Ones tendency too TP prematurely is also a function of the performance of your past few trades. Got rinsed on your last 5 trades? Size up, hit a winner, uPnL has recouped the losses from the previous 5? Time to TP and undo the losses. Example unrelated btw.
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You need a bit of mental toughness to do that. Or you’re joking ?
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Interesting - isnt this revenge trading/not to be encouraged?
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Absolutely. Wad just an example of how your psychological frame can, and often does, triumph over objective reasoning.
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