Having Trouble Pulling The Trigger?
August 8th 2008 00:41
The Stock Market Punk has a post today entitled THE RIGHT TIME TO SELL. He laments that
It's a common problem with traders, old and new alike. They can't pull the trigger! It particualrly is a problem after you've followed your tading system and taken several losses in a row. Or you buy at $10 sell at $20, and watch the stock go to $100. Every tick up sends you into agony. The next trade finds you gunshy about selling when you should and you hold on too long to a stock after it peaks..
I received an email from INO.com about a special free report they had available "How To Pull The Trigger Every Time... Without Hesitation" by Norman Hallett. I downloaded the report and it reminded me of some lessons I learned and some things I'd forgotten.
My wife thinks it is a bad idea to take a loss, She thinks they all will come back She will also say, "why did you sell it. You know it's going higher!" Get the report and make yourself a better trader.
I cannot sell my stocks no matter where the prices are going (up or down) because my impression was that I have money to lose either way. To explain: I was going to lose money if I sell when the price is going down because my paper loss will be realized. And I was going to lose money if I sell when the price is going up because, if I sell now, then I’ll lose the opportunity to earn more since the price is on the way up.
It's a common problem with traders, old and new alike. They can't pull the trigger! It particualrly is a problem after you've followed your tading system and taken several losses in a row. Or you buy at $10 sell at $20, and watch the stock go to $100. Every tick up sends you into agony. The next trade finds you gunshy about selling when you should and you hold on too long to a stock after it peaks..
I received an email from INO.com about a special free report they had available "How To Pull The Trigger Every Time... Without Hesitation" by Norman Hallett. I downloaded the report and it reminded me of some lessons I learned and some things I'd forgotten.
As with most of us in a modern society, writes Hallett, you are raised with the idea that losing is bad. It reflects directly on you. Losing equals shame, which equals pain. A natural response to pain is to avoid the situation that causes it...
My wife thinks it is a bad idea to take a loss, She thinks they all will come back She will also say, "why did you sell it. You know it's going higher!" Get the report and make yourself a better trader.
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