You’ve done your analysis. The chart pattern put up nicely and has become giving you a signal to buy. You set your order and consider the monitor screen to verify it. Now what?
Unless you’re a very short-term trader such as a day-trader, maybe a very important thing you can do is start watching some movies. At minimum you should get away from the monitor screen and do something else. Don’t sit and watch each tic of your brand-new position in the market. Your brain begins playing tricks with you.
I can’t stress how important it is to remove emotions from your trading. Emotions such as fear, greed and hope can cause many trading errors that’ll really hurt your trading results. I’m not saying you shouldn’t monitor your brand-new position in the market. Just don’t stare at the screen ดูหนังออนไลน์, then live and die on each tic movement. The most truly effective traders eliminate most or all their emotions when trading. This is performed by carrying out a solid trading plan and understanding the psychological part of trading.
The best thing you can do is place in a proper stop loss to keep your loss small in case the market goes against you. Place this stop loss below a significant support area. It’s best never to risk significantly more than 10% from the buy point. This will keep emotion from the trading that’ll boost your trading results. So go watch a good movie and improve your trading at the same time.
Gary E Kerkow, founder of Tradingmarkets4u, is a share and commodities market expert. He’s a successful trader and instructor, with over 20 years experience.