You’ve done your analysis. The chart pattern set up nicely and has become providing you a signal to buy. You place your order and look at 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 the very least you must 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. The mind will start playing tricks with you.
I can’t stress how important it is to remove emotions from your own trading. Emotions such as fear, greed and hope may 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 utmost effective traders eliminate most or their emotions when trading. This is done by carrying out a solid trading plan and understanding the psychological section of trading.
A very important thing you can do is devote an ideal stop loss to help keep your loss small in case the market goes against you. Place this stop loss below an important support area. It’s best to never risk significantly more than 10% from the buy point. This will keep emotion out of 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 an effective trader and instructor, with over 20 years experience.