My Worst Trades, from Ed Stewart

November 11, 2013 |

Over the past year all of my worst trades have all been long term positions that I sold at a nice profit. Yet I only realize this after tallying up realized losses and the mind wanders to "what happened to the ones I sold at a gain" and I tally it up to see that the missed gains dwarf the realized losses. Certainly a function of the bull trend, yet still… It seems to be a psychological phenomenon where the market plays tricks on my perceptions — or perhaps I trick myself.

Craig Mee writes: 

Ed, that's a good example of why when your cycle is in and you're making money in the market, you have to keep things tighter than ever, as if you have to start shooting from the hip because your saddle bags are full. It will end up with your cutting good trades to pay for the new losses, the market's own little stoppy to make sure you don't get to much of the action.


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