Winner's Blues

Sometimes you win, sometimes you lose
Sometimes you got still the blues for me

-- Sonic Youth

Have you ever found it difficult to take a good profit? Ironically, it may be a symptom of impatience operating under the guise of "letting our winners run". We're all familiar with the two basic emotional sabateurs of trading, fear and greed, but I think when it comes down to pulling the trigger, there is only fear holding us back: either the fear of losing, or the fear of losing out. This second fear usually appears when some sort of clock starts ticking inside the head, when some cold streak has worn thin our patience and our visibility narrows down to no further than the very next trade. On my worst days, I would be reluctant to take even a partial profit on any good trade, harboring it as if it were the last of its kind -- a blatant act of desperation. That may be at the extreme end of the spectrum, but any discomfort with ringing the register may be a sign of some external pressures having manifested themselves in your being overly committed emotionally to any one position. Best to take a few steps back from the monitor, splash some cold water on the face and remind yourself that any trade is but one out of thousands ahead of you.