You Have to Play to Win

Well, now that I've exited most of my positions profitably, I'm paranoid. What if I put in some more cash and the market takes another massive dump? Heck, it has been a long upward run so I'm sure a correction is brewing at some point, right?

You have to play to win.

If I sit on the sidelines and fret away the day I'll get nowhere. What I need to do is participate in a guarded way. What I intend is to open up a new position, which immediately places me slightly under water, and then sell my current open position once the newly opened position is profitable. Of course, I intend to buy these new positions during moments of weakness -- which is where the fear factor comes in.

What if the moment of weakness is not just a moment, but instead the start of some massive retrenchment?

Anyway, when the new purchase is above water, I don't have to sell immediately upon achieving profitabilty and I can always use a trailing stop on the items that have moved significantly above water. The trick is that I want to increase my share of revenue earning movements without having to take undue risks. However, I do have to continue to take risks if I want to make profits.