Home > Market Set Up > managing the trade: patience

managing the trade: patience

Day trading requires focus, a lot of it. One of the most common questions we get from new traders is “how do I hold on to good trades?”

A better question would be how do I recognize when I SHOULD hold my trades longer! Every trade scenario is different. Chart patterns may be similar but the market environment leading into the entry signal must be considered for hold time or what we at Keystone trading call “trade expectation.”

In order to learn how to be patient during good trades you must have confidence you have an edge for the trade you are about to place. The more obvious the edge, the more confident you should be. The lower the edge the more anxious you will act.

In order to make bigger profits you must ask yourself this question and then trade the answer! All trade scenarios will have different expectation for follow through. Learn to recognize this and patience will be easy!

http://keystonetradinggroup.com/

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  1. andrew hawkins
    March 24, 2009 at 6:55 pm

    Well said Pete.

    andrew

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