There is an inverse relationship between your threshold of pain and success in the markets, so as soon as you feel the pain: get out. What if you have on a long position and prices are going up, does that feel good? Do you know what you’re supposed to do? Keep feeling good; leave it alone. It’s working fine. Stay with positions that make you feel good; get out of positions that make you feel bad. You’ll know when you feel bad; if you can recognize anything, you will recognize “this doesn’t feel good.” The minute it doesn’t feel good, stop doing it. It’s that simple.
