Your best trade might be the one you refuse to take.
An essay about subtraction, which is the part of trading nobody puts on a hat
Look, here is a thing nobody tells you when you start trading, or maybe they tell you and you just don't believe them, which is fine, I didn't either: a non-trivial portion of your edge — possibly most of your edge — is in the trades you don't take. Which is a deeply unsatisfying thing to say. Nobody made a movie about a guy who didn't trade.
There is a trade you almost took on Tuesday. You were watching it. The setup was almost there. You felt that thing in your stomach where the chart looks ready and your finger is hovering and the only reason you're not in is some small voice that's saying, eh, not quite. And then you didn't. And then it ripped without you. And you spent the next forty-five minutes feeling like an idiot.
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