A lot of traders struggle with confidence, doubt their trades, are scared to pull the trigger, and too quickly close their winning trades out of fear.
A lack of confidence is often caused by too much uncertainty.
It is possible to improve confidence by removing uncertainty. In trading, we can do that by defining our general approach (what we did in the last lesson) and also be establishing clear rules for your trades.
We recommend setting up a new note in Edgewonk for each setup that you trade and defining it as much as possible. Write down your rules, the criteria for entries, exit and stops, and how you manage trades.
Those rules will be your guides and help you establish a more consistent trading approach.
8 – Trading plan
Edgewonk 3 is an online trading journal for Forex, stocks, crypto, Futures, CFD and commodity trading.
© 2023 Quantum Trade Solutions GmbH. All rights reserved
Cookie | Duration | Description |
---|---|---|
cookielawinfo-checbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |