You’ve done your analysis. The chart pattern setup nicely and has become giving you a sign to buy. You set your order and go through the monitor screen to ensure it. Now what?
Unless you’re a very short-term trader like a day-trader, maybe the best thing you can do is start watching some movies. At minimum you should move away from the monitor screen and make a move else. Don’t sit and watch each tic of your new position in the market. Your mind begins playing tricks with you.
I can’t stress how important it is to eliminate emotions from your own trading. Emotions such as fear, greed and hope may cause many trading errors that’ll 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 element of trading.
A good thing you can do is place in an ideal stop loss to keep your loss small in case industry goes against you. Place this stop loss below an essential support area. It’s best never to risk a lot more than 10% from the buy point. This will keep emotion from the trading that’ll boost your trading results. So go watch a great movie and boost your trading at the exact 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.