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RE: Quick Lesson on Breaking the Rules !
Always stick to the plan... :-)
Before every trade, I always know exactly where I'm going to get in and exactly where I'm going to get out (profit or loss). I then put on the trade (usually market orders) and walk away, forget it. It either works or it doesn't.
Almost everyone concentrates on finding good entry points, but ask any professional trader and they'll tell you the same, entries are about 10% important, it's the exit that really matters.
Yet people still spend 90% of their time trying to find entry points...
thanks for the insight !
I know it's easier said than done, I have a tendency to 'fiddle' with a trade once it's on, like moving stops and limits around, but it's a bad habit that I try not to do anymore because I know I end up losing money when I do.
I swear the psychological side of trading is the hardest part :-)