“Everyone has a plan ’til they get punched in the mouth.”
That’s one of the central challenges of trading. We set out with plans, then we get punched in the mouth with adverse movement.
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One way to think of risk management is as a framework that allows you to be aggressive enough to occasionally get hit in the mouth, but not so wild that you’ll get knocked out. Learning how to take a punch is key to boxing success, and it’s also an important trading skill.
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Problem is,all my teeth have been knocked out…guess I can’t take all these punches.
Hey BMB,you still watching the games?Bunch of upsets yesterday…more today,probably.
Oh sure. And yesterday certainly did have its share of surprises. But you know what they say — that’s why they play the games. You don’t get to win on paper.
And as long as we’re off the market topic, folks should go check out this house.