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RE: The psychology of the nonprofessional trader
"They make decisions by giving great weight to the first information." It has happened to me so many times but I had not payed attention in order to observe it. I liked your "Let the profit run" quote and your whole post.
We tend to be biased when it comes down to ourselves. We believe we make desicions based on bulletproof logic thus we fail to make a proper adjustmenent after a loss. But you said it yourself, love your losses, everything must be a win or learn situation.
There is always the loss situation but you don't have to make it up from the same coin, you can always move along , just don't forget your mistake !
Αληθές :P