Enough is Enough

There are two major reasons traders fail. One is they quit. You can’t win if you quit. The other reason is greed. Contrary to popular belief, [greed is not good](. Even when we’re going for Monster Wins, we need to know when enough is enough. An example of this was the trade on DISCA. In late February, a buy trade on DISCA was recommended in the Profit Accelerator program. DISCA has been in a nice uptrend but had momentarily pulled back. As it turns out, it came out of the pullback, resumed its uptrend, and produced a nice 64% win that was closed out on March 2nd. The problem is that it would have been easy to be unhappy with that big win. After all, DISCA went higher after that nice profit was taken. Greed would have said, "You chicken, look how much more you could’ve made!" And here’s the problem. We never know what’s around the corner. If we’re never happy and our greed is never-ending, we can run into big trouble. Sure, we could have made more by holding onto DISCA with "diamond hands." For a while. But then a hedge fund got caught in some bad positions on DISCA and related institutions were forced to do some quick, violent selling. Here’s what happened to DISCA if we were greedy. A big win would have turned into a loser. Or worse. Sorry, Gordon. Greed is not good. Greed doesn’t work. But having a plan, sticking to our discipline, and taking profit when enough is enough? That does work. Happy trading, Scott P.S. Rob has opened temporary access to his favorite newsletter with his boldest predictions. [You can claim your access by clicking here](. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. You may lose more than you invest. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. The information on this website is intended as educational in nature and we do not recommend that you buy or sell any specific financial instrument.   Daily Profit Publishing , 1800 Hughes Landing Blvd. Ste. 200, The Woodlands, TX 77380, United States [Update your subscription]( — [Unsubscribe](