This is important to a day trader. I like to relate this to comedians. In comedy , I see that the comedians usually leave the stage when they have made a hit joke that cracked audience up real good and they just tell you there time is up and at this time the applause is higher the more. This leaves the comedian happy in his closest while the audience too enjoy the feel of their money.
In relation ton trading too , when you are at the top of your profit and you are not sure or certain of the next market spike or movement, instead you waiting for take profit you can exit the market and go with happiness with what you made already before price crash because most times when ovaction is laudest, some audience might start "criticizing and you get a wipe"
In relation ton trading too , when you are at the top of your profit and you are not sure or certain of the next market spike or movement, instead you waiting for take profit you can exit the market and go with happiness with what you made already before price crash because most times when ovaction is laudest, some audience might start "criticizing and you get a wipe"
That's a really good example of taking your profits while you can than to wait for more profits but eventually drain all of it in a crash.
This happens with many of us when our greed kicks in and although we are in good profits already we tend to wait more thinking we can get more profits.
But since the market goes up it has come down as well and we lose our profits in the correction.
It because a tale of regrets to us when it happens. A wiser person is the one who learn from others mistakes or reads it like we are trying to pass the information here from our experience. Most times we suppose to have plenty profit when we cash out early but we never do so quick enough to escape correction. I believe a day trader should always also take quick profit out daily and not to wait too long to accumulate more profit because you can take the profit on another trade and gradually you grow steady profit taking strategy.
