"No battle plan survives first contact with the enemy.” – Lois McMaster Bujold
Rule #5 for the Discretionary Traders
Don’t be greedy – take what the market gives you and move on with your life. Your profits will roll in on their own, as long as you are disciplined about trailing your stops and exiting after that trailing stop is hit. Also, there is nothing wrong with selling part of a position to preserve your profits.
-Alexander Berger (www.MasterChartsTrading.com)
To survive the stock-market, without going crazy
•Hope for the best, but be ready for disappointment
•Have a life outside trading
•Develop specific coping strategies for fear and disappointment
•Yoga / Meditation / Physical exercise
•Public service / charitable activities
•Religious practices
•Anything that lets you ”unplug” from the markets
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