What does it mean when traders say a trade they placed has 90%+ confidence?

Confidence is “I will be fine if I don’t profit from this trade.”

When I get hurt in the market, I get the hell out.

It doesn’t matter at all where the market is trading.

I just get out, because I believe that once you are hurt in the market, your decisions will be far less objective than when you are doing well.

If you stick around when the market is severely against you, sooner or later they are going to carry you out.

Have the discipline and restraint to get out with small losses or else you will pay a much bigger price for hoping things turn around,

This is why risk management is so important.

You are going to lose, this is part of the game, just make sure your losses are not bigger than your wins.

Credit: Quora

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