I have realised that during trading, many daytraders let their loss position run till it hits an amount of loss which they can no longer take, in many cases, wiping out their equity. The greed of "maybe the market will turn and they can decrease their loss", leads to a position of larger loss. The traders who can turn this greed into fear are the most successfull traders.
Easier said than done ? Not really ! If a trader can be disciplined enough to set up a stop loss point for every trade, the emotion goes out of the trade and so does greed. Then once the stop loss point is reached, fear takes over and makes it easier to get out at a bearable loss.
Dont be a David and fight the market.......with money in the pot, there will always be another day......
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