What You Can and Cannot Control in Trading
12/10/2014 6:00 am EST
Frank Zorrilla of ZorTrades.com shares a list of the eight things the trader can control in his trading and why it is imperative to only worry over that list of eight, instead of the myriad of other things that the trader cannot control.. You can control how much money you put behind the idea.
. You can control which markets you trade in.
. You can control how much you are willing to risk per trade barring any gap downs or halt situations that might impact you negatively.
- You can control what type of stocks you buy, big-caps, only small-caps, only over $20, only under $10, etc.
- You can control what type of setups you buy.
- You can control when you get in or out, barring a halt.
- You can't control the outcome of the trade.
- You can't control how the market will react to news, so try not to impose your views too much.
The point is not to fret over what you can't control, once you put the trade in, along with your stop, for the most part, everything else is out of your control.
By Frank Zorilla of ZorTrades.com