You’ve done your analysis. The chart pattern put up nicely and is now providing you a sign to buy. You place your order and look at the monitor screen to confirm it. Now what?
Unless you’re an extremely short-term trader such as a day-trader, maybe the best thing you certainly can do is start watching some movies. At minimum you need to move away from the monitor screen and take action else. Don’t sit and watch each tic of your position in the market. The mind will start playing tricks with you.
I can’t stress how important it is to eliminate emotions from your own trading. Emotions such as for example fear, greed and hope can cause many trading errors that may really hurt your trading results. I’m not saying you shouldn’t monitor your position in the market. Just don’t stare at the screen ดูหนังออนไลน์, then live and die on each tic movement. The very best traders eliminate most or all of their emotions when trading. This is performed by carrying out a solid trading plan and understanding the psychological section of trading.
The best thing you certainly can do is place in an ideal stop loss to help keep your loss small just in case industry goes against you. Place this stop loss below a significant support area. It’s best to prevent risk more than 10% from the buy point. This will help to keep emotion from the trading that may improve your trading results. So go watch a good movie and boost your trading at exactly the same time.
Gary E Kerkow, founder of Tradingmarkets4u, is an inventory and commodities market expert. He’s an effective trader and instructor, with over 20 years experience.