Regularly I receive requests from members of my market trading group to give my perspectives on technical research of stocks theyre watching. In the course of discourse, I discovered one common factor which separates the winning traders from the losing traders.
Generally, both group of traders like to scan their tallies of active stocks to expose possible trading applicants. But the traders in the winning group are precise about their trading, and have their exit and entry points well spelt out in a particular trading plan.
In their trading,they have exact exit and entry pointsso the trade is impassive. After they have entered a trade, either theyre correct and ride the trend or they are wrong and you exit with a loss which has been destined. Theres nothing obscure in their trading.
Against this, those that are losing cash in their trades usually dont have a trading plan, or at the very least a semblance of a trading plan.