Trader's Queries - Trading Psychology Part 11
Query : "Will this stock go up? I have bought it at this price." Most of the days I get this question in different form.
Answer : Not only newbie's, but also traders face this uncertainty. After buying or selling the stock they get anxious whether the price will move as per their expectation. Unless we learn to deal with uncertainty, we cant develop trading discipline which is very important for a successful trader.
1. Plan your trade and have it in written form.
2. The written plan should have proper entry, exit and stoploss.
3. When you feel uncertain, check your trading plan. See what it says.
4. You can not control price, but you can control your uncertainty feeling. Be aware of it.
5. Say to yourself, "I have a solid plan. If price moves against my plan I have stoploss to save me".
6. Dont run away from uncertainty, face it with certain trading strategy and plan.
Answer : Not only newbie's, but also traders face this uncertainty. After buying or selling the stock they get anxious whether the price will move as per their expectation. Unless we learn to deal with uncertainty, we cant develop trading discipline which is very important for a successful trader.
1. Plan your trade and have it in written form.
2. The written plan should have proper entry, exit and stoploss.
3. When you feel uncertain, check your trading plan. See what it says.
4. You can not control price, but you can control your uncertainty feeling. Be aware of it.
5. Say to yourself, "I have a solid plan. If price moves against my plan I have stoploss to save me".
6. Dont run away from uncertainty, face it with certain trading strategy and plan.
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