Came across this interesting article from Charlie Wright,
Probably the most interesting rule for successful trading is to Buy High and Exit Higher, and Sell Low and Exit Lower. This is counter-intuitive to what we all have a natural inclination to do, which is Buy Low, Sell High. Most great trading strategies are counter-intuitive. They are not based on our normal human nature and the normal human reaction to the markets.
They consistently make money because they are designed with market sense not human sense.
Any market is just a collection of individuals making decisions and placing money in the market based on these decisions. Most of these individuals are doing what comes naturally to humans, buying low and selling high. Statistics show that 95% of these people lose money.
To be successful trader, you have to do the opposite of what this 95% is doing. It isn't easy, because it goes against your human nature. But any strategy that is successful over time will most likely follow the rule of Buy High, Exit Long Higher and Sell Low, exit Short Lower.
Do you agree with him?
You don't have to.
But, if you are in the 95% group, then think hard about it.