tailieunhanh - Forex on Five Hours a Week: How to Make Money Trading on Your Own Time _9

Tham khảo tài liệu 'forex on five hours a week: how to make money trading on your own time _9', tài chính - ngân hàng, đầu tư chứng khoán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Is My Broker Friend or Foe 161 stay in a trade even though the reason to do so is long gone. Traders will then redefine the trade often turning it into a longer-term position trade or investment because the longer outlook buys them time but more accurately allows them to postpone what is the inevitable admitting the trade is no longer valid and therefore that they were wrong. The fix is to treat validity as a decision that is as important as the entry. If the stop loss can be an active decision the exit can be proactive allowing a trader a feeling of control and therefore a certain rightness can be found even when the trade is a loser. Go Long Because They Are Bullish Instead of Being Bullish Because They Are Long Think about It There is a mental trap in analysis because the ego is involved in our decision making. Analysis is personal it s our work our skill and opinion on the line when we put in a trade. As in an individual sport there is a certain confidence we must have in ourselves. In order to protect ourselves or most accurately our sense of being correct we will look for reasons that back up our opinion. This is where we look to darn near do anything to back up our thinking rather than reassess. The only reason to buy is bullish analysis. The trap is that our position in the market will create bias that causes us to see what we want to see. Oh Crap Is Never a Reason to Get In or Out of a Trade The fact that order entry platforms look more and more like Las Vegas slot machines with their flashing prices and pretty color points is what brokers know There is a certain impulse to trade when sitting in front of your computer. The impulse to trade comes from when trading becomes more reactive rather than the execution of a well-laid plan. The culprit most often is the buy or sell button the market order because this is the order entry that can encourage reactive trade entries and exits. They are the now button. Very few if any trades should be executed this way. .