To recover from a syndrome of an overexposure of loss positions, first of all, it is necessary to like feeling of deep respect to other market makers, having understood for yourself once and for all that the absolute majority from them if isn’t cleverer, at least, isn’t sillier than you. And if they drive the price not to that party where you would like, means, it is necessary to bowl off in time in which you have every chance to remain lost.
The known ideologist of a medieval policy of Nikolas Machiavelli considered that political distempers should be smothered in a germ, without allowing them to expand till the dangerous sizes. Council of the artful and acute Italian any exchange dealer building profitable system of trade can use. Exchange wisdom speaks: “Elks should be shot before they can butt you with the horns” – on an exchange slang “elk” is a stop request synonym (English “stop-loss”); here it is meant that to be closed in the footsteps of small losses are necessary at level enough, the meaning of such closing differently is lost.
If we dig hardly more deeply and we will address to antiquity that, having familiarized with works of known historians for example, Plutarch and Svetony we will see that a certain kind deity protected heroes, commanders and statesmen from fulfillment of erroneous acts. Certainly, the modern FOREX-trader doesn’t hold at a work place of sacred chickens and doesn’t guess, like ancient Roman augurs, on flight of birds. However all it at all doesn’t mean that the kind deity has ceased to care of heroes of a century present, having limited to care of heroes of centuries former. Any skilled trader will tell to you that are very frequent before fulfillment of the unprofitable transaction in a usual current of vital events there was a certain obstacle – whether it is sudden phone call, or inexplicable lag of the program, or still something like that. Something as if told: “Leave, it is not necessary, postpone this operation or in general cancel it, but don’t enter the market”.
My personal experience abounds with this sort of examples and I wouldn’t like to block up a narration with their transfer. I will be limited only to a mention of one important circumstance: I have noticed for a long time (at a stock exchange I trade since 1994) that before fulfillment of profitable transactions I was always internally quiet, “saw” the market and second didn’t doubt that the opened position will make for me profit. Moreover, any obstacles of type of sudden phone calls during those moments at me didn’t arise.
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