Excerpt from: Forex Tips
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| August 28, 2009 | | Sooner or later, the trader who won their first trade puts on a loser and acts much like the trader above who lost their first trade. | Planning Your Trades - FX360
When most people start trading, they do not put much thought into
their trades. They will either buy or sell a currency pair (probably
the EUR/USD) because they think they see a trend or maybe even because
they put a moving average on the chart. Sometimes there is no reason
at all for the trade, they just want in. Either that trade nets a
small profit or the trades starts going against the new trader. The
trader that gets the small profit will feel invincible and likely base
trades in the near future on the same reason as the first one. Of
course they expect every trade to win. The trader whose position moves
against them leaves their position open, stares at the their computer
without blinking, and laments that they will get out if the market only
goes back to break even.
Full Story at FX360.com
| Topic Tags: easy, emotions, enter, entering, entry, profit, stop, trader, trading | |
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