Don’t Mix Emotions in Trading.
Without doubt, no trader will last long if he doesn’t plan every trade. There is absolutely no point in making a plan for a trade if you are not disciplined enough to follow it. A plan should cater for every eventuality. Don’t worry about where the prices and stocks are going. Worry about how you are going to act when they get there.
Once you put your money down on a trade you can not control the prices.
So stop worrying about what could happen and concentrate on you trigger points and what you will do when these points are violated. By doing this your trading stops being emotional and now becomes very systematic and stress free. Do you see now that by having a plan everything becomes automatic? You know where to get in, place stops, add and exit.
In short you are now learn to trade professionally and not from emotion.
Learn to trade and you don’t have to ask for opinions. Not once were you afraid of letting a profit get away, or of a loss becoming too big. Simply put, if you make a plan and have the discipline to follow it trading becomes very simple and stress free. Prices will whip around violently shaking off all scared and emotional traders. It will only be the ones who have the discipline to follow a set plan that will benefit from the full move.
The real value in Learning to Trade professionally
If you ever find yourself having to ask someone for an opinion on a stock you are holding, then it can only be because you either have not made a plan, or you are second guessing the plan. In this case you might as well not bother making one in the first place. Planning a trade should be no different from planning a trip. You must plan for all kinds of market events.
If your are trading from the “hip” and not from a plan then expect your results to worsen.
Having a plan totally removes all opinion and emotion from a trade and anything which does this can only be good news. When you start following your own plans you will find yourself not wanting to listen to outside opinion. To be a winner in the markets you can never trade from emotion. and the only way to eliminate emotion is to have the strong
discipline to follow your own plan and learn to trade.
To learn to trade you must eliminate all emotion and follow YOUR plan.