The Bad Trade Test!

In working with traders, I have discovered that traders often get trapped in a bad trades. To exit a bad trade, the trader must have the discipline, the self control, the resilience, and the courage to realize that a trade is not working out. In some instances a trader may hold on to a bad trade for extended period of time, discovering that the trade is getting worse. What if, you the trader had 3 questions to ask yourself to determine whether or not to exit the trade? 1. IS THE TRADE LOSING ME MORE MONEY THAN I WANT THE TRADE TO LOSE? 2. CAN THE TRADE BE REPLACED WITH ANOTHER TRADE, ENTERED AT A BETTER TIME IN A BETTER PLACE? and, 3. WILL I FEEL GOOD WITHOUT THE TRADE? If the trader answers YES to 2 out of the 3 questions ....HE/SHE GETS RID OF THE TRADE.... IMMEDIATELY! For the laser method of getting out of a bad trade,use the University of Trading LIE.I FACTOR TEST( yes, that's right.... stop lying to yourself test. ("L" stands for "LOVE" and "I" stands for "IT" "E" stands for "ELIMINATE" and .."I" stands for "IT" again) Believe me this works! IF YOU DON'T LOVE THE TRADE GET RID OF IT( that's right... purge it, scrap it, junk it, abolish it ). Think about it. The trader in a bad trading position is in the position of being stuck! Why can't you the trader be in a strong position and LET IT GO. The winning trader choses to be in a state of PEACE and a losing trader choses to be in a state of PANIC! Why hold on? It is always better to be in a trusting stage of peace instead of a fearful stage of panic during ones trading day! Remember, staying in bad situations requires much much more energy.