CrucialPoint's Simple Exit Method: The "GTFO exit method"
I'm sure you are aware by now of the emotional roller-coaster traders goes through.
Look at the above picture and think about how long have you known this diagram? (since you started trading? 1, 5, 10 or 15 years?)
A lot of people have seen this diagram.
And it's been staring at your face and you haven't solved it because of the following:
You didn't grasp and understood the principle
You haven't mastered the basic
Your cognitive biases blinded you
Let me take the blindfold off and now look at the diagram below.
It's called CrucialPoint's Simple Exit Method: The GTFO exit method (Get The *censored - swear word* Out)
The principle and philosophy of this method is simple and solid:
1. The moment you feel a certain level of anxiety >>> GTFO!!!
Let's analyze this deeper:
The moment you reach a certain level of anxiety, most of your logical reasoning and critical thinking goes out the window. You're as good as someone they call "drunk trading"... so GTFO!!!
If you are going to stay in the trade while anxious, you might as well open and finish a bottle of wine while you're at it. At least you will feel deludedly happy due to the alcohol as it will ease up the burden and depression. You can worry about it later when the alcohol wares-out. At this point, you are not in shape to trade. You are not in the proper mindset to manage the trade... so GTFO!!!
When you're anxious, you will make stupid mistakes and stupid decisions, so you are best to GTFO!!!
Professional traders knows there will be another opportunity, so they GTFO!!!
When you're anxious, you have no reason to be in the market even if it goes to the moon. I don't care even if all the planets are aligned. You should be out of the market or GTFO!!!
The continued bout of psychological trauma 24/7/365 is very detrimental to your performance and personal well being... so GTFO!!!
If you continue to trade with uncontrolled mixed emotions, you teach your subconscious (learned behavior) that "it is OK to make stupid decisions and stupid actions... repeatedly... unconsciously." If you find yourself going through the first diagram of the emotional roller-coaster, more likely you've already learned the bad behavior and learned a bad trading habit... one of the most deadly trading sins.... Take a deep breathe and exhale slowly... And think about that it is time to correct this behavior.
... and GTFO!!!
Original found here: http://www.forexfactory.com/showthread. ... ost8609059