You’ve done your analysis. The chart pattern setup nicely and has become providing you a sign to buy. You place your order and look at the monitor screen to ensure it. Now what?
Unless you’re a really short-term trader such as a day-trader, maybe a very important thing you are able to do is start watching some movies. At the very least you must get off the monitor screen and make a move else. Don’t sit and watch each tic of your new position in the market. Your brain will begin playing tricks with you.
I can’t stress how important it’s to eliminate emotions from your trading. Emotions such as fear, greed and hope can cause many trading errors that will really hurt your trading results. I’m not saying you shouldn’t monitor your new position in the market. Just don’t stare at the screen ดูหนังออนไลน์, then live and die on each tic movement. The most effective traders eliminate most or all of their emotions when trading. This is completed by following a solid trading plan and understanding the psychological section of trading.
A good thing you are able to do is devote a proper stop loss to keep your loss small in case the marketplace goes against you. Place this stop loss below an important support area. It’s best to prevent risk a lot more than 10% from the buy point. This will help to keep emotion from your trading that will enhance your trading results. So go watch a good movie and enhance your trading at exactly the same time.
Gary E Kerkow, founder of Tradingmarkets4u, is an inventory and commodities market expert. He’s a successful trader and instructor, with over 20 years experience.