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Hello Traders,
For 2016 I would like to wish all of you discipline and patience in your trading!
Greetings!
Trade management is more important than Market Analysis….
I have done this so many times before, my colleagues tell me when it happens to them as well as some of my clients….You have the perfect read on the market. The market actually ends up doing what you thought it would and in a BIG way…yet somehow you manage to LOSE money despite your perfect analysis. To me this is sometimes more frustrating than having a bad losing day.
What happened?
Poor trade management, that’s what happened.
Yes, reading the market well is a much needed quality if you plan on making money rather than contributing donations to the market but more important is how you manage the trade / position once you read the market. Much easier said than done, especially after the fact but here are some tips that I am hoping will assist you in the next time you have a good market read.
