Do you get trapped into this noise and make adjustments based on the current tape rather than looking at the big picture of the market and — more importantly — your strategy?
Just about the time you get tired of making adjustments because of noise, you decide to start sitting on your hands (ignoring adjustments that your strategy requires).
That’s about the time the next break out or the next overnight move becomes just the beginning of bigger move that lasts for several weeks.
So, how do you find the balance to consistently adjust when its required and ignore noise the rest of the time?
#1 — Know why your strategy has adjustment parameters and why anything more frequent is just going to drag your account down.
#2 — Mentally prepare yourself by visualizing the market hitting your adjustment point, and you calmly ignoring all the media, all the hype, and just taking the one necessary adjustment to get you back on track.
#3 — Watch the webinar recording (scroll to the bottom of that page) from April 23rd. In this webinar, John talked about his experience working with thousands of traders — and the one thing most traders simply are not willing to do that would allow them to make easy profits consistently.
Andrew Falde
SMBU
[email protected]
No relevant positions.
