Friday, April 20, 2018

Trade Less To Make More Money

A good post from on how overcome overtrading. The suggestions:

1. Every weekend analyze your markets and create trading plans.
2. Identify the most important price levels for the week ahead.
3. Set your price alerts at those levels.
4. Wait for price to get there without watching the market.
5. When your price alert goes off, check the chart and evaluate whether you have a trading entry or not:
    a)  Yes? Great, enter the trade.
    b)  No? Set yourself a reminder to check back in a few hours or take the instrument off your watchlist if price movements made your trade idea invalid.
6. Let the set and forget approach do the rest for you and don’t interfere with your trades again.

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