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Stocks & Commodities V. 25:11 (60): Futures For You by Dan O'Neil
Stocks & Commodities V. 25:11 (60): Futures For You by Dan O'Neil
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Futures For You by Dan ONeil
DONT BE A SORE LOSER
Ive been trading futures for a while now, and Ive followed all of the standard advice about doing my research and setting up a trading plan. However, Ive found it difficult to sit by when the market starts to turn against my position. My instinct tells me to take emergency action and do whatever it takes to get right again, but most of the experts seem to agree thats a recipe for disaster. In general, what is the best way to handle a losing streak when youre right in the middle of it?
Welcome to the club. Every successful veteran trader has experienced an occasional run or two of poor performance in the futures markets; you cant expect to operate in these markets without a few valleys to go along with the peaks. In truth, plenty of traders wind up with more losing trades than winners. So how do they survive to trade another day? Its a simple, unglamorous answer by maximizing profits on their winning trades and minimizing losses on the losers.
DONT BE A SORE LOSER
Ive been trading futures for a while now, and Ive followed all of the standard advice about doing my research and setting up a trading plan. However, Ive found it difficult to sit by when the market starts to turn against my position. My instinct tells me to take emergency action and do whatever it takes to get right again, but most of the experts seem to agree thats a recipe for disaster. In general, what is the best way to handle a losing streak when youre right in the middle of it?
Welcome to the club. Every successful veteran trader has experienced an occasional run or two of poor performance in the futures markets; you cant expect to operate in these markets without a few valleys to go along with the peaks. In truth, plenty of traders wind up with more losing trades than winners. So how do they survive to trade another day? Its a simple, unglamorous answer by maximizing profits on their winning trades and minimizing losses on the losers.
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