Originally posted by tomtomagain
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Originally posted by Old Greg View PostPooper is too emotional to accept a loss.
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Originally posted by tomtomagain View PostSo my question to Scooter is: Do you have an exit strategy in case you are wrong? And will your character allow you to take the action required should things start moving substantially against you?
It's always better to have a plan written down when things are calm, rather than trying to make up one on the hoof when everything is falling apart.
As for exits, I think you're asking about stop losses, I don't use them myself. If I had used one today, it would have gone off and liquidated my position at market no matter the price.
I imagine a lot of people in a similar position would now panic and look to liquidate their position and call it a day. That's emotion making decisions. Patience is key. If you don't believe in yourself you're on the wrong bus."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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PS: Glad so many are watching my trade for me"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostNice story - I used to be polar opposite, make a fortune and then ride it all the way down again. I have a strategy that I follow to the T. No deviation. In simple terms the strategy is to buy low sell high. Sure I said it before, 97% or thereabouts of retail cannot do it.
As for exits, I think you're asking about stop losses, I don't use them myself. If I had used one today, it would have gone off and liquidated my position at market no matter the price.
I imagine a lot of people in a similar position would now panic and look to liquidate their position and call it a day. That's emotion making decisions. Patience is key. If you don't believe in yourself you're on the wrong bus.
To paraphrase, you have absolutely no way out until your objective is met or you're bankrupt. I'd take a leveraged punt on which one comes firstComment
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Originally posted by scooterscot View PostPS: Glad so many are watching my trade for me
We are watching your trade because we dont want you to go bankrupt and come back to UKComment
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Originally posted by scooterscot View PostNice story - I used to be polar opposite, make a fortune and then ride it all the way down again. I have a strategy that I follow to the T. No deviation. In simple terms the strategy is to buy low sell high. Sure I said it before, 97% or thereabouts of retail cannot do it.
As for exits, I think you're asking about stop losses, I don't use them myself. If I had used one today, it would have gone off and liquidated my position at market no matter the price.
I imagine a lot of people in a similar position would now panic and look to liquidate their position and call it a day. That's emotion making decisions. Patience is key. If you don't believe in yourself you're on the wrong bus.I am what I drink, and I'm a bitter manComment
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Originally posted by Whorty View PostI can't tell if you're a troll, a fool or arrogant. I genuinely hope you're a troll as the other 2 options you will end up broke (or worse).Comment
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Originally posted by scooterscot View PostAs for exits, I think you're asking about stop losses, I don't use them myself. If I had used one today, it would have gone off and liquidated my position at market no matter the price.
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