If I bought some stocks even before starting to trade systematically, should I close those open trades since I’m going to start systematic trading and already have trading systems?

You don’t have to close it. If you had an educated reason and plan for that open trade, you could leave it there and follow that plan. But if the trade was placed because of the hype or didn’t want to miss out, you don’t have a plan and a method that will work. If that’s the case, that was a discretionary trade. I suggest you pull that money into your systematic trading portfolio and start trading it with the rules of your trading systems.

If you got this position that doesn’t have rules, you don’t know when you’re going to get out and how you’ll manage it in advance. If the market goes up, that’s great but if the market goes down a long way, it’s not going to feel great; you’re going to lose money. It’s going to be emotionally difficult and more panic as the market falls. You’ve learned in the Crypto Success System that this market goes up very fast, but it also falls very fast. We don’t want to sit through that if we don’t have to.

If we take that position that doesn’t have a plan around it and put the money into a trading system, the system will get us in when it’s moving up or get us out when it’s moving down. It will keep us safe, reduce our stress, and improve our long-term results. But if you have a strategy that you’re following around that initial trade that you already have on, you can keep following that strategy. However, if you don’t have a strategy, be honest about that with yourself and realize that trading without a strategy is dangerous. Then put that money into trading systems and be done with it. You’ll find you’ll do a lot better with a lot less stress.

Pin It on Pinterest

Share This

Share This

Share this post with your friends!