Offers a donchian richard with dennis richard. Many traders have the habit of not cutting losses fast, and getting out of winners too soon. It sounds simple, but it takes discipline to trade correctly. This is hard whether you're losing or winning. Many traders overtrade their accounts. Many traders tend to have no discipline, no plan, and no patience. They overtrade and can't wait for the right opportunity. Instead, they seem compelled to trade every rumour. Offers a donchian richard with jack schwager.
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Staying with a losing position because a trader's information (or worse yet, intuition) indicates the deteriorating market is only a temporary situation can lead to large losses.Lack of risk capital in the market means inadequate capital for diversification and staying power in that market. Offers a donchian richard with dennis richard. Some speculators don't have the temperament to accept small losses in a trade, or the patience to let winners ride. Offers a donchian richard with jack schwager.