As a Professional Stock Trading Coach and Founder of Winner’s Edge Stock Trading with over 10 Years of trading full time, I can attest to the emotional toll that stocks and options trading has on an individuals mind and emotional well-being.
I have found that if we can train ourselves to operate within a strict framework of rules, we will increase our success exponentially.
Success is not just defined by our wins. Success is also defined by reducing our loss. We reduce our loss by:
- cutting a trade quickly when we are wrong
- taking profits without giving a large percentage back to the markets
Operating within a set of firm rules starts with creating a firm plan BEFORE taking the trade and Sticking to it no matter what. Institutions program their algos to function within certain parameters, however these machines are void of the emotional variable. We as retail traders are not, underscoring the importance of creating and operating within a strict framework!
To Your Success,
Kevin Michaels, Founder
Winner’s Edge Stock Trading