Patience and a calm state of mind throughout any event are powerful.
Be at peace with your signals sometimes resulting in losses and not always helping you find great entries. This will be the case with any signals because the market can do anything.
Know how to calculate your risk and never add positions beyond your risk parameters.
Have entry signals that you know frequently advise entry into profitable positions.
-
When you get a new entry signal with no positions open yet, open a position in the indicated direction.
When you get a new entry signal in the direction of your existing position(s), add a position in the same direction.
For every new position, set an initial stop and stay calm if it gets hit.
If a stop is hit for a loss, patiently wait for the next signal. EA-generated alerts can remove most of the work and worry that one will be missed.
Intelligently manage trailing stops.
Watch for good exit signals such as overbought and oversold oscillators, especially when a trend has been running for a long time.
Be at peace with your signals sometimes resulting in losses and not always helping you find great entries. This will be the case with any signals because the market can do anything.
Know how to calculate your risk and never add positions beyond your risk parameters.
Have entry signals that you know frequently advise entry into profitable positions.
-
When you get a new entry signal with no positions open yet, open a position in the indicated direction.
When you get a new entry signal in the direction of your existing position(s), add a position in the same direction.
For every new position, set an initial stop and stay calm if it gets hit.
If a stop is hit for a loss, patiently wait for the next signal. EA-generated alerts can remove most of the work and worry that one will be missed.
Intelligently manage trailing stops.
Watch for good exit signals such as overbought and oversold oscillators, especially when a trend has been running for a long time.
Open to new approaches.