Controlling Emotions – No#1 barrier to trading success

When trading markets we are all thought to create exit strategies to be able to minimize risk and get maximum profit. This is the reason why you have to have a level to exit whether the market goes up or down.

Once you have identified this, stick to it. Don’t be swayed by your emotion, be it fear or greed to step out of your plan. If you plan to exit at 3 points below your entry, don’t exit at 1 point because your scared to lose.

Always plan to lose small and gain big. Likewise do not exit before your target gain is achieved nor wait for it to go higher. Once it is reached get out not sooner or later.

There are ways of identifying whether the market is going up or down, whether to go short or long. Learn this and stick to your plan. The probability of in Eminis trading is almost 50:50 because the market can only go up or down and the cost is very minimal.

Therefore if you simply flip a coin to choose which way to go, the worst is you simply break even