Elaborate Pit

Bill had a bad day today. He lost $ 1000. He thinks: 'I can not finish the day with a net of $ 1000. I will try to return the money before the end of the day '. He continues to trade, despite the fact that his plan has broken down, he feels that the stress increases, which he is not in itself.

He makes a few mistakes in a row and lose another $ 5000. His account was subjected to severe shock. Bill realizes that he would have won the logistical, if stood aside and regained her composure before continuing trade. Instead, he dug a deeper hole than you can afford, and get out of it will be very difficult. Sound familiar? Many traders are afraid to take on limitations. Instead of looking facts in the face, they continue trading, despite heavy losses.

Successful traders, by contrast, continually monitor your moods, thoughts and experiences. If any of these factors are not in order, they take a break. For long-term success it is vital to develop a plan for self-control. Monitor your mood in general and certain emotions in particular. When you feel all right, stop trading. Systematic control of your mood is required. Some traders offer to assess the mood before the market opening on the 10-tiballnoy scale, from complete pessimism (1) to an energetic optimism (10). If they do not view themselves at 8 or above, then take off. They rest, relax and energize to return to the market.