Turkey's in the Rain

I thought this story might be appropriate since we are only a couple of days away from the
Thanksgiving Holiday. Turkey's are not the brightest creatures. They have been known when it is raining to stand out in the rain looking up at the sky with mouths open and drown.

You might wonder how this relates to trading. Trader's also at times can be like Turkey's in the rain, when a trade is put on and a profit target is reached, they sort of look up at the sky and wonder if more is coming, don't take the profit and let a profitable trade turn into a loser.

This whatI call the "Turkey in the Rain Syndrome". Traders have to always remember they are trading to make profits not to prove to the market that they can guess where it is going. There are many profit opportunities available in the markets every day.

It seems like whenever we try and stretch for that little bit extra, the market seems to know our intentions and reminds us to trade our plan.

The only reliable method that i know to avoid the 'Turkey in the Rain Syndrome' is to plan profit targets and then take them when they are there, no sense drowning on a sunny trading day!

Have a Happy and Safe Thanksgiving!

Leslie