Entry point what's going though your mind?

So you entered a trade at the price you wanted, So now what are you thinking?

Your hoping it goes up to your sell point?

your hoping this is a winning trade?

who knows what the out come will be

it's all about ''Control'' you must master
''Control'' from when you enter to when you exit that trade.

Are you in full Control of your trade?

or are you just hoping for the best?

 

So you entered a trade at the price you wanted, So now what are you thinking?
---------------------------------

Nothing, I am thinking about nothing.

Depends on your time frame.

I scale in, so I just wait Because before hand, I knew I was going to buy the rest of my position at some other point in time whether it goes up or down.

Now if you ask what I am thinking when I have my full postion.

I'm still thinking of nothing.

I'm waiting.....

stay tuned....

 

i was taught to think to myself if the position is working the way it were envisioned? did all points on criteria check before entering? whats it doing in relation to the spooz while in the trade? is it working well enough to increase position? should i give it another wave? how close am i to lunch? which portion of the range? a few other things

 

You are not thinking about that trade. You are following you trade parameters and that trade will be a winner or a loser. This one trade doesn’t matter. What matters is how well you follow you parameters over the next 1000 trades. You may be looking for evidence of an outside influence that may make it necessary to get out sooner (or take a windfall) than your parameters would otherwise indicate (i.e. unexpected news, an assassination, a terrorist attack or whatever). Of course you have thought about what you will do if one of these situations happen BEFORE they happen. This does not happen often mind you, but occasionally it does. Like the boy scouts say, “Be prepared.” Watch the downside carefully as you can’t trade without your capital.

You are not high or low, excited or frightened, apprehensive or high strung. It is just another opportunity for your system to work for you. Let it.

BM

 

Big Money:

Are you a swing trader or scalper?

it's easier if you are a swing trader.

 

I am in control in that I have entered with a bracket order.

I am hoping it will be a winner

It doesn't really matter as it is only one trade of many.

 

If I am scalping stocks I am watching ESZ9 and other indicators like BKX,DXY etc.. If I am swing trading, I am monitoring economic calendar and other related news. In both cases I am looking for confirmation that my entry was in the right direction or looking to exit without taking too much damage. In terms of thought trying not to get opinionated.

 

im thinking 'where's my next rock of crack coming from? boy this trade had better work!'

 

Well Sir,

The only thing going through my mind once I enter a trade is – if/ then

If = what could happen (what price could do)

Then = what will happen (the action I will take)

Yes I am in control – of exactly when I enter / exit…, and how much I lose – always (slippage notwithstanding of course)


Regards

RN

 

If the trade immediately goes my way I think, "Why did I put on such a small position?"

If the trade immediately runs against me I think, "Why did put on such a large position?"

If the trade just sits there drifting back and forth a few ticks, my head starts to fill with way too many thoughts about the trade (which is very dangerous for day traders) and I become really, really, nervous. I usually end up exiting the trade near break even at the point that all the thoughts are about to make my head explode. This releases a powerful energy burst from the Trading Multiverse that immediately sends the price on a massive move in my favor...without me.