Avoiding Implusive Trading
Here is a sequence I observe among many losing traders
Trading Day begins with uncertainty. The trader isn't having any trading plan, Just saw global cues but not sure which way the market is going, but feels the need to make a trade. Instead of sitting back , making a plan and let the level to come to initiate a trade , the trader is leaning forward, felling impulsive to take a trade.
The market moves higher and trader feel he is left out in this current move, and the urge to enter is so overwhelming followed by frustration of missing a great move. The trader now expresses frustration, "I should have bought there."
The market comes down, then up.Consolidating the gains of the recent move. Suddenly the market move up one more time and the trader can't take it any more and jump into the market without confirming.
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Trading Day begins with uncertainty. The trader isn't having any trading plan, Just saw global cues but not sure which way the market is going, but feels the need to make a trade. Instead of sitting back , making a plan and let the level to come to initiate a trade , the trader is leaning forward, felling impulsive to take a trade.
The market moves higher and trader feel he is left out in this current move, and the urge to enter is so overwhelming followed by frustration of missing a great move. The trader now expresses frustration, "I should have bought there."
The market comes down, then up.Consolidating the gains of the recent move. Suddenly the market move up one more time and the trader can't take it any more and jump into the market without confirming.
posted by Bramesh at
4:48 PM
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