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
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.