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Mel shares he was letting his emotions get the better of his trading. Whether he was staying in a trade too long, getting in too early, or just that overall feeling of missing out.
He took the time to make a game plan and by sticking to it, Mel was able to focus on making the right moves.
On the days he wants to make a trade but he can’t focus on the market, he reminds himself of his plan. This way he can sit and watch the charts and see how the trade would have played out.
Not making any trades for the day is also a solid strategy. Sometimes the market just isn’t in a position where we want to risk it. On those days, it’s okay to sit and watch.
If you’re feeling the urge to trade, consider paper trading for the day. This way, you can check if your prediction would have turned out the way you wanted it to, without any financial risk.
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Image and article originally from thebrownreport.com. Read the original article here.