Today is one of those days where I am seeing the market well but timing is slightly off. It is a little harder for me to scratch a trade and work around a position, like yesterday. Yesterday spoiled me a little. Lesson learned.
One of the mistakes that traders make is they see the market in relation to their average price. Maybe because we are all a little bit narcissistic but I can give you thousands of examples where the market does not care about us.
There are times when you can be greedy, that is when you get a good price. A good price is determined by how far on the outside the price turns out to be. I do not want to take .50 on part or all of my position but I am forced to if I get a price that turns out was in the middle. If I take .50 I have more options. Yes I get out early at times but at least I have an opportunity to get a better price or eliminate risk.
Remember no matter how good of a price you get, if you don’t get out it does not matter.
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