If you’ve got zero conviction in your trade decisions – what hope in hell do you have in succeeding?
If you’re just “rolling the dice” sitting glued to your screen, “praying to god” the damn thing moves in the direction of your trade after a huge “risk event or ” news release” – give your head a shake!
YOU ARE THE LIFE BLOOD OF THE BROKERS AND WALL STREET BANKERS!
“Ka Ching!” – Thank you very much you tiny frightened little man, trading on margin with your hopes and dreams of “striking it rich” – I will liquidate your account now! “Ka Ching!” “Ka Ching!”
You’ve got to either sit these things out, or have a firm understanding as to where to pull the rip cord. Otherwise…..you’re sitting ducks.
I just saw several trades fluctuate as much as a full 100 pips within a 15 minute interval. Several “thousands of dollars” blinking before my eyes across the board – positive, then negative,, then mixed, then positive, then negative.
Has the world stopped turning? Has something “so amazing” occured as to change my entire outlook in a single 15 minute blip? Of course not!
With no conviction – you’re toast, and if you can’t rustle it up then the number one piece of advice I can give anyone is to TRADE SMALLER!
If your heart is racing! You’re trading to big!