Regularly I receive requests from members of my market trading group to give my perspectives on technical research of stocks they're watching. In the course of discourse, I discovered one common factor which separates the winning traders from the losing traders.
Generally, both group of traders like to scan their tallies of active stocks to reveal possible trading applicants. Nonetheless the traders in the winning group are express about their trading, and have their exit and entry points well spelt out in a particular trading plan.
In their trading,they have exact exit and entry points...so the trade is impassive. After they have entered a trade, either they're correct and ride the trend or they are wrong and you exit with a loss which has been destined. There's nothing obscure in their trading.
In contrast, those who are losing money in their trades invariably do not have a trading plan, or at least a semblance of a trading plan. This group of traders jump on tips provided by others without being able to check or verify the tips from some analysis, whether technical or fundamental. They do not have any idea of when to enter the trade or to exit with a stop loss.
Again, when the winning traders have computed their entry and exit and stop loss points, these traders can approach their trading day with guarded optimism, watching whether an expected rally is on the cards or not. By watching pre-determined price points, the trader can know whether a rally has in fact begun and to start to trade in a more aggressive manner or to stop trading on wrong expectations which comes soeasily by being influenced by tips here and there. If the trade goes against them and hit their stop loss, they take their loss unemotionally and are out of the market, thus limiting their losses.
Remember, you involve hard earned money into your trading and investment.There is nothing Imprecise about trading. Each exit and entry points is worked out before hand to permit you to control your risk, if you are going to become a successful trader.
Learn the way to do this well and you'll be a consistent trader. Test each tip and breathe specifics into your trades and you can make profits. In each profession, it's the consultant who makes the most cash. Learn to perform well in your trading and you'll be worthwhile.
Generally, both group of traders like to scan their tallies of active stocks to reveal possible trading applicants. Nonetheless the traders in the winning group are express about their trading, and have their exit and entry points well spelt out in a particular trading plan.
In their trading,they have exact exit and entry points...so the trade is impassive. After they have entered a trade, either they're correct and ride the trend or they are wrong and you exit with a loss which has been destined. There's nothing obscure in their trading.
In contrast, those who are losing money in their trades invariably do not have a trading plan, or at least a semblance of a trading plan. This group of traders jump on tips provided by others without being able to check or verify the tips from some analysis, whether technical or fundamental. They do not have any idea of when to enter the trade or to exit with a stop loss.
Again, when the winning traders have computed their entry and exit and stop loss points, these traders can approach their trading day with guarded optimism, watching whether an expected rally is on the cards or not. By watching pre-determined price points, the trader can know whether a rally has in fact begun and to start to trade in a more aggressive manner or to stop trading on wrong expectations which comes soeasily by being influenced by tips here and there. If the trade goes against them and hit their stop loss, they take their loss unemotionally and are out of the market, thus limiting their losses.
Remember, you involve hard earned money into your trading and investment.There is nothing Imprecise about trading. Each exit and entry points is worked out before hand to permit you to control your risk, if you are going to become a successful trader.
Learn the way to do this well and you'll be a consistent trader. Test each tip and breathe specifics into your trades and you can make profits. In each profession, it's the consultant who makes the most cash. Learn to perform well in your trading and you'll be worthwhile.
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