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Hope 2014/12/21 7:10 AM GMT Tweet

Hope in day-trading
Day-trading is kind of psychological game and less emotions there are, better the performance is. The worst thing that could happen is to enter a trade which is a losing one and despise all logic and cold sense, sit on this losing trade in hope it would turn into profit. That is why, in trading hope could be very destructive. Even I'd say it's a bad word for the trader. It is very hard to learn to control this feeling because it is a subconscious self-defense mechanism. It is important to set some rules and indicators which to trigger a stop loss to close a losing position once this criteria met. Personally, I don't like stop losses to be triggered by the trading platform, but I do close losing positions manually myself as soon as I see that the underlying goes the opposite direction.

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