Continue reading...Do you have trouble pulling the trigger? If so, you’re not alone. Greed and fear exert a powerful influence when the time comes to enter the trade. This is especially true for newbies who have great difficulty visualizing the rewards or risks they’re about to incur.
Effective trade entry requires skill, confidence and a strong stomach. Most of the time it should be an uncomfortable experience; no one likes to lose money. But the ability to follow a disciplined entry plan, even when it hurts, separates profitable traders from the hordes of losers who take up the game.
I receive dozens of questions each year from frustrated traders who aren’t sure when to be in or out of positions. I’ve compiled the best ones here today, along with advice about helpful ways to enter the market with confidence.
Q – I get confused about the elements needed to make a trade. How can I tell when to pull the trigger?
A – What you really need is experience so you can correlate your decision to...
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