The perfect trade…

…doesn’t exist.

Buying at the very bottom of a move and selling at the very top before the next reversal is a matter of pure luck and it doesn’t happen very often.

Come to terms with the fact that grabbing any portion of a move is good enough.  Create rules not only for entry signals, but, and more importantly, for exits that protect your open profits and cut your losses pretty quickly.  Remember there is always another trade.

With such a small account as this one, I’ve had to add some new rules, until I can beef it up and have some more wiggle room. For example, I start looking to take profits a lot sooner than I used to with larger accounts.  Since I’m trying to not risk more than $500/trade, I also look to cover or tighten my stops if open profits are between $750 and $1,000.  If it goes past it, great.  If it retraces and kicks me out, so be it.  I got my profit.

Get used to the feeling that the exit was never perfect and that profits are always good enough.  

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