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Worden Discussion Forum » Members » ajaytc2000

Profile: ajaytc2000
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User Name: ajaytc2000
Groups: Member, TeleChart
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Joined: Monday, December 13, 2004
Last Visit: Wednesday, December 15, 2004 9:34:23 PM
Number of Posts: 1
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Topic: Willl it be a good or bad day to trade?
Posted: Tuesday, December 14, 2004 12:13:54 AM
Not really being a day trader, I can concentrate on a particular stock, and decide its entry point based on technical and/or fundamental analysis at the end of the day. Since my limit order decides my entry point, it does not matter if its an upday or a down day for me. The system automaticallly places me in an order or sometimes the stock runs beyond my reach and I just bid a farewell to that stock with no attempt to chase it.


Invariably after getting into the stock, I always feel that my entry point was wrong, but it has mostly turned into a winner when I control those emotions and just execute my predetermined plan for a stop loss and an exit point. If I stick to my plan irrespective of the market, I've been effective but whenever I have allowed my emotions to take over, those changes have penalized me dearly.