The human aspect of trading is very important. This is why entire books are written by professional future traders that focus on the human element. A novice trader just wants to know the entry and exit points. If it was that easy, we would all be professional commodity traders. A successful trader must overcome the human emotions of fear, greed, overconfidence, false hope, etc. Even the euphoria of winning can be dangerous. For instance, I have the following open positions:
| Symbol | Position | Date Position Opened |
Price Position Opened |
Price Now |
Per Contract Profit |
| CAD | Long | 12/2/20 | 0.7732 | 0.7848 | $1,160.0 |
| GPB | Long | 12/16/20 | 1.3556 | 1.3551 | $0.0 |
| GPL | Long | 11/23/20 | 926.4 | 1054 | $11,680.0 |
| JZ | Long | 12/14/20 | 0.0096225 | 0.009691 | $887.5 |
| NASDAQ | Long | 12/13/20 | 12410.5 | 12625 | $4,295.0 |
| NG | Long | 4/21/19 | 2.492 | 2.643 | $1,510.0 |
| NIY | Long | 11/9/20 | 25465 | 26760 | $6,475.0 |
| NZD | Long | 11/11/20 | 0.688 | 0.7104 | $2,240.0 |
| Total Open Profit | $28,247.5 | ||||
On a per contract basis, the profit is over $28K. When you have open large profits, it encourages you to do stupid things. First, it is tempting to take all of this money and run off. However, some of these trading patterns have a long way to go based on my trading plan. This is where “let profits run” comes into play. Sticking to your plan requires discipline. Second, it encourages to pyramid these winnings and keep adding to them. The risk of becoming over leveraged grows. Suddenly, the market moves against your position and all of your profits vanish into losses.