At 9:06 on 11Feb my long missed it’s stop loss by half a point – I had a bad entry on the trade but it still gave me 1R. If I’d been stopped because of my poor entry, it might have been tricky to make a fast recovery from. At 11:30, the market hit my RES 2 on the nose – which meant that my long collected full 5:1 profit on half the trade – but with just 2pts leeway.

It is so easy to have distorted thinking because of the greater impact of negative events on mood and memory, so it’s worth making a point of how it also works the other way around

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