Stocks & Commodities V. 23:12 (44-48): Product Review: Dynamic Trend Profile 2.0 by David Penn
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Stocks & Commodities V. 23:12 (44-48): Product Review: Dynamic Trend Profile 2.0 by David Penn
What’s your favorite sin? Gluttony? Lust? Avarice? Okay, let me try that again. What’s your favorite trading sin? That no-no, shibboleth, or trading atrocity that, despite your best intentions and “knowing better,” you are too often powerless to resist. My own trading bête noire has to be the old “turning trades into investments” offense. For me, as a short-term trader, this often means allowing swing trades to turn into position trades. But the problem is essentially the same.
Part of what happens with some traders isn’t just that a position goes against them and they have to cage for more time by convincing themselves that the trade works “just as well” as a position play as it did when it was conceived as a swing trade. Translation: If I wait, hopefully the trade will do what I wanted it to do. Nor are the offenders necessarily those with winning positions who just can’t force themselves to leave the party while the joint is still jumping (insert your favorite “Bulls make money, bears make money, but pigs get slaughtered” riff here).
What’s your favorite sin? Gluttony? Lust? Avarice? Okay, let me try that again. What’s your favorite trading sin? That no-no, shibboleth, or trading atrocity that, despite your best intentions and “knowing better,” you are too often powerless to resist. My own trading bête noire has to be the old “turning trades into investments” offense. For me, as a short-term trader, this often means allowing swing trades to turn into position trades. But the problem is essentially the same.
Part of what happens with some traders isn’t just that a position goes against them and they have to cage for more time by convincing themselves that the trade works “just as well” as a position play as it did when it was conceived as a swing trade. Translation: If I wait, hopefully the trade will do what I wanted it to do. Nor are the offenders necessarily those with winning positions who just can’t force themselves to leave the party while the joint is still jumping (insert your favorite “Bulls make money, bears make money, but pigs get slaughtered” riff here).
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