Webring - Forex
My observation is that most day traders buy and sell with market orders. This strategy tells your broker or platform to buy when you execute an order as soon as you hit the enter button on your computer and buy immediately at whatever price the market is trading. I want to qualify this before getting too far down the road, I trade in a scalping style and run reasonably tight stops and try to let my winners run. Of course, who does not try to let their winners run? Many people, believe it or not, especially if they are to heavy on the number of contracts they are trading relative to their futures account balance, trade not to lose, as oppose to maximizing their profit potential. They are fearful, and trade defensively. It’s not unusual to see a fearful trader trade the ES contract and bail at one point, even though the market is signaling there is good potential for the trade to continue in the direction of the trade. They just want out before something bad happens. Needless to say, trading in a fearful condition is not an enjoyable experience and makes for a long day.
Continue reading How to Enter and Scale Out of an ES Emini Trade
Comments