Trader's Queries - How to avoid late entry & exit?
Query : Most of the time I take late entry & exit, how to over come it?
Answer : Everything starts with simply watching the market. Market is based on probabilities, still you need a plan for your trades You should know where the support/resistance is. When watching market with out an analysis, when you see a good trading opportunity, you wont get confidence about taking that trade at the right time. And you wont have clarity about where to book profit. Dont watch the market with out analysis or trading plan as it will lead to impulsive trades, which gives loss.
Have a strategy to trade, back test it. So you wont hesistate and take late entries. Know your risk tolerance, so that you will book profit in time. All new traders face this problem and the action you take to overcome it makes you a profitable trader.
Answer : Everything starts with simply watching the market. Market is based on probabilities, still you need a plan for your trades You should know where the support/resistance is. When watching market with out an analysis, when you see a good trading opportunity, you wont get confidence about taking that trade at the right time. And you wont have clarity about where to book profit. Dont watch the market with out analysis or trading plan as it will lead to impulsive trades, which gives loss.
Have a strategy to trade, back test it. So you wont hesistate and take late entries. Know your risk tolerance, so that you will book profit in time. All new traders face this problem and the action you take to overcome it makes you a profitable trader.
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