How to Prepare Successful Trading Plan part-II
In Continuation with Previous Post How to Prepare Successful Trading Plan Part-I
Do your homework
You can’t expect to successfully trade in a vacuum. Therefore, before the market opens, be aware of what is going on around the world. What are the overseas markets doing? Also, learn what the economic or earnings data is and when that information is due out. Rather than taking an unnecessary risk, it’s best to wait until that report is released. Professional traders are not gamblers — they trade on probabilities.
Prepare for trading
Keep your trading area distraction free because distractions can be costly in the trading arena. Whichever trading program you use, label the major, minor, and resistance levels and set alerts that you can easily see.
Set exit rules
Continue Reading
Do your homework
You can’t expect to successfully trade in a vacuum. Therefore, before the market opens, be aware of what is going on around the world. What are the overseas markets doing? Also, learn what the economic or earnings data is and when that information is due out. Rather than taking an unnecessary risk, it’s best to wait until that report is released. Professional traders are not gamblers — they trade on probabilities.
Prepare for trading
Keep your trading area distraction free because distractions can be costly in the trading arena. Whichever trading program you use, label the major, minor, and resistance levels and set alerts that you can easily see.
Set exit rules
Continue Reading
posted by Bramesh at
3:56 PM
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