By learning how to hit singles you will be able to hit a home run once in a while. I don’t know of any trader who gets into a trade expecting to hit a home run every time. You should never approach a trade with the idea that it’s going to be a huge winner. Sometimes they turn out that way, be willing to take what the market is going to give. Go through the motions of trading each time you make a trade waiting for the entry signals, putting on a stop loss, add to the positions when there are add on signals, exit when you get exit signals, and look for the next trade. You will get stopped out sometimes (hopefully for small losses) you will win sometimes (Hopefully more than you lose) then along comes a big one. Do this and your account will most likely grow. Be mechanical about your trading do the things you do well over and over again.
How to Hit a Homerun (20 of 26)
by Kirk Norwood | Jan 7, 2008 | Disciplined Trader Series, Entry Signals, Exit Signals, The Disciplined Forex Trader | 0 comments