Monitoring a Trade
Between entry and exit, there is not too much the trader can or should do beyond
keeping the trade closely under observation. You’ve made your decisions,
Between entry and exit, there is not too much the trader can or should do beyond
keeping the trade closely under observation. You’ve made your decisions,
DEVELOPING A TRADING CODEX
paid your money—now it’s time to watch. Use this time to examine other candidate
trades or update your reports. Don’t use it to troll the blogs or forums.
There are reasons you may be advised to close an active position before it
either attains your profit objective or hits your stop-loss:
Reasons to Close an Active Trade
• An unexpected announcement is pending.
• The market environment changes suddenly.
• You are called away for a period of time from the markets.
• Your Internet or trading platform goes down.
• You suffer an emotional crisis.
Processes work best the less they are interrupted or altered. If you find
yourself frequently closing an active trade, it may be time to reexamine the
process itself.
trades or update your reports. Don’t use it to troll the blogs or forums.
There are reasons you may be advised to close an active position before it
either attains your profit objective or hits your stop-loss:
Reasons to Close an Active Trade
• An unexpected announcement is pending.
• The market environment changes suddenly.
• You are called away for a period of time from the markets.
• Your Internet or trading platform goes down.
• You suffer an emotional crisis.
Processes work best the less they are interrupted or altered. If you find
yourself frequently closing an active trade, it may be time to reexamine the
process itself.
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