What the heck am I talking about?
It is often said that to grow mentally, spiritually, emotionally and personally that you have to stretch and move out of your comfort zone. I definitely believe in this concept, however... When it comes to day trading, swing trading or position trading stocks, futures, options or forex, going outside your comfort zone can be dangerous!
Let me explain... Say, a trader is used to buying 100 shares of a stock at a time with the average value of $50/share. He/she is very comfortable with putting this amount at risk. They never experience any anxiety and can sleep well at night at this level. However, watch what happens when these traders decide to up their ante to 200 - 300 shares.
All of a sudden they are worried about every tick against them and start riding an emotional roller coaster based on the current price of the stock. At these levels they become much more emotional and their judgment becomes cloudy at times. Now they start making bad decisions that never occurred at the 100 share level.
A good idea is for you to take a good hard think about "what size trader" you are and where you are completely comfortable at. Write these numbers down and force yourself to never deviate from them. When the time does come to raise your bet size up, do it in increments over time. For example: If you want to go from 100 -200 shares, do 120 on week number 1, 140 on week number 2 etc.
I assure you, that by sticking to the concepts in this article that you will make trading a much more comfortable and profitable experience. Be patient and stay focused and the money may roll in at levels you never thought possible!
This article by Dr. Jeffrey Wilde, a trading veteran with 15 years of experience in all major markets. He is a trading coach to over 1400 traders in 38 countries.
For additional info: http://www.win-at-trading.com
disinfecting cleaning services Buffalo Grove ..No, this is not a symbol for some Latin number.... Read More
Today we are inundated with tons of information about the... Read More
The Bollinger Band theory is designed to depict the volatility... Read More
Do you have a financial planner? Does one of your... Read More
The trading method you employ to approach the stock market... Read More
As an investor you will want to check out any... Read More
Fundamental analysis.Fundamentals analysis says the best way to predict the... Read More
The trash business in its efforts to cook their books... Read More
Stock trading remains a very competitive field and the stock... Read More
An insane person cannot evaluate an insane evaluation system.As you... Read More
Dollar cost averaging is one of the most popular ideas... Read More
Is really not as important as to how you invest... Read More
Recently I was invited to appear on a live CNNfn... Read More
The following are a list of nine things you want... Read More
Stocks breakout from properly formed bases everyday but many investors... Read More
Have you seen all those big full page ads for... Read More
Wouldn't it be nice if you were only in the... Read More
Most stock market traders have a favorite technical indicator.The one... Read More
There is no question that the stock market is being... Read More
Time to look back2004 is over, now we are in... Read More
Mutual funds are doing more and more to discourage investors... Read More
It's about time someone spoke the truth concerning outsourcing. The... Read More
The big bad bear is stirring again. So far he... Read More
Let's say you are interested in this one company. You... Read More
Money: the most charged word in the planet. It means... Read More
spotless home service Arlington Heights ..How is it possible that trash Companies are posting less... Read More
When it comes to buying a stock or mutual fund... Read More
Money: the most charged word in the planet. It means... Read More
Economists know more about how the fragments of society work... Read More
It looks like we have now entered a new bull... Read More
One of the great "secrets" of successful people is discipline... Read More
I constantly hear the talking heads on CNBC-TV, the radio... Read More
Every day on CNBC-TV they show a 200-day moving average... Read More
Every stock market investor faces one primal enemy. An enemy... Read More
Every day I see in the financial section of newspapers... Read More
(1) CHK stock price $16.74, NAV $32.5CHK is my favorite... Read More
A few years back ? it seems like an eternity... Read More
Stock investment advice is easy to find. Do you get... Read More
Three little pigs went to the market to stock up... Read More
Let's discuss commodities; with the latest Enron situation, it is... Read More
You read and hear a lot about hedge funds. Unfortunately,... Read More
As a novice trader, you'll often feel the need to... Read More
The stock market can present you with a lot of... Read More
I love roller coasters. The steeper the better. High and... Read More
The bear market that showed up at the end of... Read More
Ever turn down a street, get half way and suddenly... Read More
With all the bad news that has been dumped upon... Read More
For the last few weeks we have seen the stock... Read More
I have been trading for several decades and was an... Read More
You probably know the story of Sherlock Holmes and the... Read More
Stocks & Mutual Fund |