June 22, 2017

I like to make the comparison between traders and pilots. Pilots have a checklist and a flight plan. Pilots often have to make adjustments during flight to compensate for weather/turbulence. Majority of professional traders have a checklist and a trading plan. Trade-able events suggest the direction of price. We enter the market when we have identified a trade-able event. If price continues in our favored direction then our profit take will be a desirable one. However, there are several instances where after entering into a trade long/short that price immediately moves against us and bring us into negative territory. Depending how price moves against u...

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