Replies to post #7954 on *** ALL THINGS MONEY >>>> ATM ***

[auroradude]

Thanks for sharing your thoughts Breakout!!

If folks can just learn this lesson they would be sooo much better off. I love how you showed the opportunity costs of holding onto a loser as well.

So we can look back at the oat trade I posted today. In short @ 394'6 and covered @ 395. As I mentioned, I was in just for a quick day trade and knew I was not going to make it trading all day. Commodities move quickly and can produce high gains or loss's. I would not have been able to take my break knowing I was on a trade going the wrong direction, so took the quick loss before it grew.

I see that if I would have not taken my nap and held this position, I would have made money as last trade was @ 390'2. Do this bother me? NOT AT ALL! I safeguarded that money and it is ready to go to work. We look forward, not backwards except to learn. I would do the exact same thing again even knowing what I know.


One great way to have more money is to lose less of it.

[L-Back]

Great post bud! I know exactly where your coming from. (even know the board) everything you say is the truth! I think we may need to add a spot in the ibox with some of these educational posts for new trading people.

Well said thanks!