Joined Sep 2008
Status: neurological anomaly
These two things are more of a mindset than a "tool", but they helped me a lot in the stress level category:
1. When I stopped trying to get in a trade at the absolute lowest and getting out at the absolute highest. I missed a lot of trades trying to save some money getting in and lost a lot of profits trying to make the most. Now, if I want to be in the trade I get in as low as I can, but I no longer try to eek out every penny. And I still get out at a reason to get out, like resistance or towards the end of the day or such, but I no longer hold just to make a little bit more. I may leave money on the table but I put a lot in my pocket!
2. I used to panic if the trade went against me after I entered, but now I know that a trade has to "breath" and as long as the reason the trade was good in the first place hasn't changed, that's fine. Matter of fact, I often use those times now to add to my position.