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Showing results for tags 'manage a trade'.
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I actually attended an Options Animal Seminar last week (Dont hit the back button yet - LOL) and the presenter made an interesting point. Most of the training that's out there, especially paid training) focuses on ways to get into a trade.: Technical Indicators Chart Patterns Price Action Trading Setups/Strategies Yet, they tend to not address what to do while in a trade. We all know that emotions can cause us to do things that destroy our trades. Exiting trades too soon or Holding on to losers way to long. So, I wanted to ask the forum what strategies you use to manage a trade For me, I control emotions by clearly identifying my risk / reward before entering the trade. I manage my expectations. I know we are supposed to be unbiased, but when you put on a trade, you do have an expectation. In addition, I ask the following question to try and identify why the criteria that I set and followed to enter the trade may have changed: What has changed about the trade? Is it fundamental? - The company has been cooking the books Is it Technical? We broke a key price level Is it Sentimental - typically fast move in one direction and then returns Is it Macro Economics - Economic Calendar Events
