One of the biggest changes I’ve made this year is I absolutely REFUSE to hold a loser overnight. It has improved my trading AND my lifestyle greatly. Sure you could have have a winner and still wake up to a loss, but the probability of that is decreased immensely when you are sitting on a profitable trade.
It seems so simple but I and so many ignore it, if you are upside down on a trade its probably because its a shitty trade. Holding overnight hoping for some news or an offering or the next world war is not trading, its hoping.
Nate had a couple tweets this morning that reminded me of that. Plus I’m sitting here relaxed as hell making plans on how to trade $PTBI, instead of shitting bricks trying to figure out what the fuck to do next.
One thing I always say and really shines true today — Never bring today's problem into tomorrow and shines true for many on $PTBI
— Nathan Michaud (@InvestorsLive) May 6, 2015
It's always best to start each day fresh — so many trades think "eh, I'm wrong but I'll let it play out" then wake up to a $PTBI
— Nathan Michaud (@InvestorsLive) May 6, 2015