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Dear Traders,<\/div>\n<\/div>\n
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One Way to Eliminate Fear and Greed While Day Trading<\/div>\n
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It is a known fact that fear and greed can be a trader\u2019s worst enemies.<\/div>\n
I\u2019ve found one way that has helped some clients deal with fear and greed and their cousin, \u201cgetting out of winners too soon and staying in losers too long.\u201d<\/div>\n
What is it?<\/div>\n
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Entering multiple contracts. ( MICROS are a great fit to try and explore the tips below!!)<\/div>\n
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Entering Multiple Contracts: Philosophy<\/div>\n
In order to enter multiple contracts while day trading, one has to have the appropriate risk capital and margin requirements. But the advantage of trading more than one \u201cunit\u201d or splitting your trading size into two or more parts is as such:<\/div>\n
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If you enter a trade with one contract (or if you are treating your trading size as\u00a0one unit, meaning you enter a trade with 4 contracts and exit the trade with 4 contracts), you can face a very quick dilemma, especially when day-trading. Consider the two following scenarios:<\/div>\n
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1.\u00a0You get in and very quickly you are up 2 mini SP points\u2026what do you do? Do you take profit? Bring your stop loss closer? How do you avoid getting out too early or too late?<\/div>\n
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2. You enter a trade and it goes against you rather quickly\u2026if you get out then it is a loser…but the little voice in your head says \u201cwhat if the market goes back up?\u201d<\/div>\n
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In the first case scenario, when market decided to be nice to us and moved in our direction, I like to exit half of my positions relatively quickly. In the case of the mini SP, this would be around 7 ticks profit.<\/div>\n
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What I\u2019ve found is that this will allow me to manage the rest of the trade in a much more relaxed manner. Since I\u2019ve already locked profits in, now I can look for a proper stop close to my break-even level. I can analyze my next target more realistically and, if the market provides room for additional gains, be there to participate.<\/div>\n
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In the second case scenario, I can choose to risk a smaller amount or use a tight stop on the first half of my position and a bit wider stop on the other half of the position. This can help prevent the scenario when one does not get out of a trade because mentally one does not want to accept the loss.<\/div>\n
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Of course, there is much more to trading and day trading. Entry signals, exit techniques, why and when to get in a trade, and so on — all of these are key.<\/div>\n
But I hope that this tip will assist you while trading and will prevent some of the instances where you get out of a trade too late or too early.<\/div>\n
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Would you like to read more tips and trading resources?<\/div>\n
Click here<\/a><\/div>\n
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Disclaimer<\/div>\n
The methods described in this article are for educational purposes only. Past results are not necessarily indicative of future results. The author and the publisher assume no responsibility for your trading results. Trading involves a high degree of risk. No recommendation is being made to buy any stock, commodity, option or other financial instrument. Consult your financial advisor before starting any investment system.<\/div>\n<\/div>\n<\/div>\n
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Mini SP 500, 120 minute chart below along with a sell signal I PERSONALLY observe from yesterday morning.<\/div>\n
Sign up for the Trading indicators shown in the chart here!<\/a>\u00a0( red arrow\/square = potential sell, blue arrow\/ square=potential buy etc.))<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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<\/div>\n<\/div>\nGood Trading<\/strong><\/h3>\n
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Good Trading<\/strong><\/h3>\nTrading Futures, Options on Futures, Gold Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0 You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.<\/p>\n
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Futures Trading Levels<\/strong><\/h3>\n05-14-2020<\/p>\n
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<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\nDid you know?<\/div>\n<\/div>\nCannon will\u00a0Match or Beat Your Current Commission Rates!<\/a><\/div>\n<\/div>\n
05-14-2020<\/p>\n
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Did you know?<\/div>\n
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Cannon will\u00a0Match or Beat Your Current Commission Rates!<\/a><\/div>\n
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![\"\"](\"https:\/\/files.constantcontact.com\/3dc00ef7001\/451fbbf8-dd52-402c-9648-f83cee292817.png\" "\\"\\"")
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