Tuesday, December 28, 2010

how to win big!

"i have a strange problem." said the talented trader

"i am good at reading the charts

and technical analyses

but when the trade is going my way

and i am having decent profit on the screen

i chicken out

by booking profit prematurely!

I am unable to convert my wins into

real big ones!

this is really preventing me from making it big in stock trading!"

--

the veteran trader was listening patiently to the confession of a bright trader!

he realised that the young man's problem lay in his getting overwhelmed by the sight of the profit!

he remained silent for several minutes

and then suggested

"stop looking at the bank balance

stop looking at the amount of unrealised profit

imagine that you are not trading money

but trading points

or trading the chart lines!

imagine that you are playing a game of reading charts correctly!

let your broker take care of the accounting!"

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