[yasirdxb]

Hi Daniel,

sorry for the mistake in the other post. what I wanted to say was "you dont have to win" not "you dont want to win".

By the way, I'm a newbie compared to you and mick. I started trading just one and half years ago. like any other new trader, I blew up few live accounts very quickly. it was only after that I realised the need of a profitable strategy and a probabilistic mind set.

by learning and experimenting many strategies, I developed a strategy which is based on trend following. I was well aware that there will be more losing trades than winning trades when trading this strategy and the only way to survive is to win BIG when you win.so it was never a problem for me to close out a trade when it goes against me and adding to it when it goes in my favour.I dont usually place a limit order when I enter a trade, rather I prefer following the market. You cant call it 'greed' when it is a part of a strategy.

though my equity curve is consistantly rising on a monthly basis, I dont think I
have learned everything and its time to go full time trading. I'm still trading part time and a mini account.

I really appreciate your comments and look forward to learn more from experienced guys like you and mick.

Thanks,

Yasir.

ps: here is my view of taking a loss and setting a target. actually its an excerpt from "Reminiscense of a stock operator"

"The successful trader has to fight these two (fear and hope) deep-seated
instincts. He has to reverse what you might call his natural
impulses. Instead of hoping he must fear; instead of fearing he
must hope. He must fear that his loss may develop into a much
bigger loss, and hope that his profit may become a big profit."