Why Having Rules Your Rules In Place Matters
Dave Landry typically uses the
phrase ‘No Tickee, No Tradee’ when
entering a trade, but it’s just as relevant when using stop losses. After you’ve
done the research, and you decide that a trade is worthy of putting on, manage
it with the same commitment. Too often, traders let every zig and zag get the
better of their well-thought-out triggers — by ‘micro-managing to $$%@#$ it up.’
13:16:16
Intraday Setup Alert
Comtech (CMTL)
has just established a
1,2,3 low off a retest of daily chart b/o levels. CMTL is down 1.38 at
35.35.
The moral of the story is this — don’t let every little wiggle get the best of
your plan, unless it physically stops you out with ‘real’ price action…not the
mental kind that might be going on in your head.