Here's what the market punishes your for:
Having courage and bravery
Getting back up when knocked down
Fighting against the odds
Holding on against the slimmest of hopes
Being a coward
Duck and running
Only trying when it favors the odds of success
Never having hope
If you've read this far you'll agree that...
Instead, when you're getting knocked down, don't get back up... move on.
Don't be courageous, jump ship when the trade isn't working your way.
There's no room for selflessness unless your are into Wall Street Charity (an oxymoron in itself).
Hoping that a trade will pay off for you, you'll undoubtedly lose. The slimmest of hopes is just asking for catastrophe. So don't hang on to losing trades.
So remember, if you're feeling heroic, brave, and everything that represents the character traits we all admire in society when you're trading... well then you're probably going to take an unnecessary beating.
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Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida. More >>