Sunday, August 31, 2008

Directional call

Having a view on the market or taking a call is the flawed approach of a noob. One should move from such an approach as soon as possible. Taking a view is important and tools such as Technical Analysis help. However, once you take a view throw it in the waste basket. The difference between a noob and a pro is that the pro now focuses on riding the position as far as possible or getting out with the correct stop. You must remember to concentrate on making the most of the trade. Endless thoughts on making a fortune have to stop.
Keep smart trailing stop losses. Kick out the loser smartly.

No comments: