How Emotions Affect Day Trading

In order to be a successful day trader, you need to have the right tools, choose the right markets, and trade the right trading systems. However, it is just as important to have the right psychological and emotional outlook.
Lets illustrate the trading emotion using an Intraday Trades,similar emotions can occur over Swing trades and positional trades ranging for weeks or even months.
9:15 AM: You watch as the market opens. You are looking for a good buy entry point into Century Textile @635 based on your analysis you think that Century Textile has giving breakout and momentum is on upside out after many days of consolidation stock has seen.
10:30 AM: Century Textile inches upward till 639  for an hour from you entry price ie.635 ,you are waiting for pullback near your buying point to take trade.Century Textile then takes a small dip. You think, “Great chance to buy on the dip!”  Originally you were planning to buy 2000 shares, 1000 for intra-day trading and 1000  for positional trading.
2000 shares? That means even if you successfully catch a Rs 5 stock price move, you only make a measly 10K? Better double that.
You buy

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