theolove2021
New member
Trading decisions should be made as unemotionally as possible.
If you trade based on emotions:
You’ll buy at the highs when things are moving “fast”, hold onto your losses hoping they will rebound, trade larger hoping to make back what you’ve lost, and etc.
Clearly, you know that trading based on emotions is a recipe for disaster,
Instead, you’ve got to think, act, and trade like a machine!
Now the question is, how?
Here are a few tips to get you started…
Theophilus S.
If you trade based on emotions:
You’ll buy at the highs when things are moving “fast”, hold onto your losses hoping they will rebound, trade larger hoping to make back what you’ve lost, and etc.
Clearly, you know that trading based on emotions is a recipe for disaster,
Instead, you’ve got to think, act, and trade like a machine!
Now the question is, how?
Here are a few tips to get you started…
- Develop a trading plan with clearly defined buy & sell rules
- Risk not more than 1% of your capital on each trade
- Focus on executing your trading plan consistently (this is so important)
- Don’t get swayed but the short-term results, think long-term.
Theophilus S.