Full Show Transcript
So walking up the hill in [Kwai 00:00:02], going zip lining. That’s what all the harnessing stuff’s all about. And check this out. He’s the wire, well, here’s the next wire we’re going on. There’s the little platform. The wire goes all the way down over there. Pardon me, I’m a bit puffed from walking up the hill. But the anticipation of this is kind of interesting, just to look how far you got to go and how deep the canyon is that you’re going to fly across on a little wire. And it’s a bit … You ever feel like that when you’re placing your trade in the market? Hmm.
So we just finished the zip line, and it was a 2,500 foot zip line, which is pretty cool. And what’s awesome is you pick up so much speed. But at the end, I don’t know if you can see up there, but you come to a sudden, grinding halt, so that you don’t smash into the pole at the end. And I’m flying through the air, thinking about trading, as one does, and what occurred to me is one of the things that traders struggle with is when you’re in a move that’s going in your favor, it feels amazing. It feels like you’re flying, your account is growing, you’re hitting new equity highs, and it’s better and better. And it’s really easy to forget that all moves will come to an end.
A lot of traders get into trouble when they are a part of a massive trend. They jump on board and they ride this trend, and their account grows and grows, but when it starts to turn at the end and it’s time to get out, you’ve got to remember to take your exits. You can’t fall in love with the trend because it will not go on forever. We’ll always stop. And so when you’re in a move that’s going in your favor, just remember, one of the biggest mistakes is to forget that you have to exit. And just like all zip lines come to an end, all trades, all moves, all trends, no matter how long or short term you’re trading, come to an end, and you need an exit plan that you’re ready to execute flawlessly at the end of that move. Because if you don’t, you’re going to give back all of that profit and more when it turns and goes in the opposite direction. So again, all moves come to an end.
My name’s Adrian Reid, fresh from the zip line. This is Enlightened Stock Trading. I’ll see you in the next video. Bye for now.