Imagine this scenario. You open up your laptop and start your precheck ritual. You come across some mediocre setups but one setup finally jumps out at you. The weekly timeframe looks like it just turned south after a long run up and a super clean double top. You sink down to the daily and wouldn’t you know it? You find yourself staring at moving averages that are screaming at you! Things get a little worrisome on the 15 minute chart but by the time you get to the 1 minute chart, you realize you’re now staring at the end of a retracement!
The red candle stretches. It closes with no wick in site. You’re in!
You spend half an hour monitoring the trade and get it up to 5% of your balance. Now you get to relax for a bit.
Now at 3 hours into the trade, you’re looking at a 30% increase. You feel th itch to take that chunk of change off the table but you know that’s emotion talking so you get a grip on them and put your diamond encrusted holding gloves on. You already moved your stop loss to 10% pure profit…dream big!
The end of the day rolls around and you already have your SL placed well on the 4 hour chart. Sleep is easy to come by because of that thankfully.
Now week one has wrapped up and you’re having a hard time getting anything done. You’ve moved your SL to 100% profit and that fact is making you break out in fits of maniacal giggling.
2 months later the market finally flips. You take your 3100% gain. Oh oh, here comes the laugh again. It’s impossible to contain in light of the fact that tax wise, it’s all capital gains!
Visualize THAT my friends (seriously, do it)!
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