Today was a good reminder to always take profits. Even when
you are up a modest profit you never know what’s around the corner. There’s also the psychological affect that
knowing you made a profitable trade has on you.
When you see a lot of green on your balance sheet it looks better to you
psychologically then looking at a bunch of red or even worse, nothing on the
balance sheet. This whole game is
psychological. The market responds to
people’s emotions around any given stock and what they think might happen to
the company. The key is to know yourself
and be able to talk yourself up when there are down days and talk yourself back
when there are good days. Having a lot
of green on the balance sheet helps you to have confidence in yourself as a
trader and know that you can be successful.
Nothing breeds success like success.
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