MY DAY TRADING TIP FOR TODAY:
The Five Most Common Trading Mistakes Made by Almost All New Day Traders
Not using Trading Stops :
Using proper trading stops is the key to success in trading.
Trading stops go hand in hand with managing risk and capital preservation.
A trading stop helps the trader get out of a losing position without thinking too much.
It is a part of most execution platforms today. A trading stop tells a trader that their analysis of the market move was wrong.
A trading stop can be based on the amount of money a trader is willing to pay the market to find out if he or she is right about their analysis.
Having stops placed automatically helps build confidence in a trader as they know they will not have to think too much when the market moves against them by a certain amount.
They know they will get taken out of the position automatically when the stop is triggered.
After all, the first loss is usually the smallest loss.
Happy Trading Friday Everyone!
MY DAY TRADING TIP FOR TODAY:The Five Most Common Trading...
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