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Consistently exercising stop loss discipline is the greatest challenge and barrier to succesful long term trading. Our desire to avoid experiencing the pain of losing is hardwired.
Once you have created a discipline to take a series of losses you tend to find that another set of inhibiting factirs start to creep in. At first they are special cases, Later they become the 'normal' reason for not acting a stop losses and the losses grow.
I do not think there is a single, or simple, solution. The solutions we use to force ourselves to act on stops change over time. We need to be alert for the need to change and the more we can read about the different ways that others resolve this problem, then the better the chance we give ourselves of finding a solution that will work for us.
The foundation is accurate trade planning and good records showing who a trade failed. Look for the patterns as Jason suggests, and then develop strategies to block the losing behaviours. This may eman no taking partucular types of trades because they always 'blow up.'

Cheers
Daryl

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Stock Meeting Place » Beginners questions and answers » Difficulty taking stop losses » Edit Post

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