I received an email today from a trader who has been struggling to stick to his stop exit plan once he is in the trade even though it is well planned ahead of entry to the trade. His struggle is causing him significant anguish. This was my reply:
hi xxxxxx,
this is my brutally honest response.
everything in the world that is worth succeeding at presents a momentous challenge.
in trading the challenge is the “mindfuck of death.”
i realize from your passage that you are aware of this on some level.
the question is not what advice i might give u but whether u are up for staring this challenge down, meeting it and exceeding.
this depends upon how much u want it and if u are willing to make the sacrifice of murdering your ego.
ultimately u will either do so and stick to your plan or you will not.
there is no secret exercise i have for u.
the choice is yours.
phil