STREET DOGS: Market mistress
If the job has been correctly done when a stock is purchased, the time to sell it is almost never
I find it to be a much different game involved when managing a big winning position than dealing with any size losing position. Sometimes the market moves render even the best trading plans moot, win or lose. The mistress encourages one to abandon reason and science, imploring one to trade in an emotional, "seat of the pants" mode. The mistress tends to endow a winner with self-doubt and adds a double dose of hindsight just for kicks. She messes with confidence levels, tries to decrease humility, increase hubris and whispers in your ear some small suggestions that, if followed, will cause personal ruin. It is important to note that the mistress is fastidiously equal opportunity, sowing discord among winners and losers alike, and all at the same time. Losers are easy to deal with … get rid of them quickly, learn whatever lesson is presented and move on. It’s the very rare big winners that are most perplexing … there’s not much material out there on how to deal with them. – Daily Spec...
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