Saturday, June 13, 2009

Preparation and Review: Remember this is a job

It's Saturday morning here. I have been lazy lately and I have not been creating my support levels for the upcoming week on my charts. I took a look at some of my levels over the last week and I see over 60 trades from these levels. To be successful at this you have to put in the preparation and review time. I think a lot of traders just shoot from the hip, which can lead to a win some lose more account total.

Obviously S&R trades are not always simple to read and they can harm your trading if you allow yourself to "assume" something is going to happen at any given level. If however you utilize them to explain why your entry signals are appearing near a level, then they can give you a positive reinforcement to enter a trade and possibly relieve some of the stress of trading.

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