Regularly I receive requests from members of my stock exchange trading group to give my perspectives on technical research of stocks that they're watching. In the course of debate, 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 expose possible trading applicants. But the traders in the winning group are precise about their trading, and have their exit and entry points well spelt out in a particular trading plan.
In their trading,they have definite exit and entry points...so the trade is calm. After they have entered a trade, either they're correct and ride the trend or they're wrong and you exit with a loss that has been destined. There's nothing obscure in their trading.
Against this, those that are losing cash in their trades usually don't have a trading plan, or at the very least a semblance of a trading plan. This group of traders jump on tips offered by others without having the ability to check or determine the tips from some research, whether technical or basic. They don't have any notion of when to enter the trade or to exit with a stop loss.
Again, when the winning traders have computed their exit and entry and stop loss points, these traders can approach their trading day with guarded positivism, watching whether a predicted rally is on the cards or not. By watching predetermined prices the trader can know whether or not a rally has in truth begun and to begin to trade in a rather more assertive demeanour or to stop trading on wrong expectancies 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, so 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 how to do this well and you will be a consistent trader. Test every tip and breathe specifics into your trades and you can make profits. In every profession, it is the specialist who makes the most money. Learn to excel in your trading and you will be profitable.
Generally, both group of traders like to scan their tallies of active stocks to expose possible trading applicants. But the traders in the winning group are precise about their trading, and have their exit and entry points well spelt out in a particular trading plan.
In their trading,they have definite exit and entry points...so the trade is calm. After they have entered a trade, either they're correct and ride the trend or they're wrong and you exit with a loss that has been destined. There's nothing obscure in their trading.
Against this, those that are losing cash in their trades usually don't have a trading plan, or at the very least a semblance of a trading plan. This group of traders jump on tips offered by others without having the ability to check or determine the tips from some research, whether technical or basic. They don't have any notion of when to enter the trade or to exit with a stop loss.
Again, when the winning traders have computed their exit and entry and stop loss points, these traders can approach their trading day with guarded positivism, watching whether a predicted rally is on the cards or not. By watching predetermined prices the trader can know whether or not a rally has in truth begun and to begin to trade in a rather more assertive demeanour or to stop trading on wrong expectancies 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, so 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 how to do this well and you will be a consistent trader. Test every tip and breathe specifics into your trades and you can make profits. In every profession, it is the specialist who makes the most money. Learn to excel in your trading and you will be profitable.
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