A proper exit – hurts.
What about exiting on a high?
Exit on your high.
Who’s stopping you?
… who’s to say that the high won’t become higher?
No one knows.
So, while the uncertainty about the high becoming higher is still out there – smarty – why are we going to not let it play out?
We are going to let it play out.
A new high might be posted. We then make more profit.
Or, trade starts going against us, and we start to lose some of what we’ve gained.
When you can’t stand this hurt anymore – exit.
That’s a proper exit.
It’s leaving a bad taste in your mouth in the end. That’s when you know it’s a proper exit.
You’ve stomped out the possibility of a new high.
You’ve taken what the trade has to give.
You’ve let the hurt set in.
You’ve let the trade arrive at its logical conclusion.
Now, you are exiting.
Congratulations, you are exiting properly.
Continue like this and you’ll become a great trader.
What, have I let the cat out of the bag?
Don’t worry, one can say it a million times and 99% of all traders will still continue to exit improperly.
It’s human nature.
Human nature works against the mindset of a winning trader.