I'm glad that is no longer true.
It has nothing to do with how well I know you. I really don't know you well enough to make any kind of diagnosis of your personal psychology.
However I can diagnose symptoms that ALL of us traders suffer from. Learning how to quickly change my mind and take a small loss is one of the hardest things I have learned to do as a trader.
It is human nature to fear and hope. When a position goes against us, we hope it will come back. When we are in profit, we fear the market will take away that profit.
Therefore, our natural reaction is to hold on to losses and sell a profit too soon. That is the wrong reaction, and is why most traders lose in the long run. This statement is controvertible. It doesn't make any difference what anybody says to the contrary.
I know this to be true.
So instead of hoping a position comes back, we should fear our losses will grow bigger.
Instead of fearing the market will take away our small profit, we should hope our profit will become a bigger profit.
This is exceedingly difficult to do... It's not about the market. It's about our psychology and way we interpret and react to the information the market provides us with.
A very famous and successful speculator once said; "A speculator must be on the job all the time, or he soon will have no job"
No sleeping on the job is permitted in the speculative markets...
