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How to Prepare for the Best, Worst, and Everything in Between–What Traders Need to Consider Before Opening a Trade

Released on Tuesday, June 11, 2024TRADING

In trading everything is possible… When planning a trade, traders usually care for the entry, stop loss, and take profit. Fair enough, as these are the main elements of a proper strategy. But what happens DURING the trade? Most traders are unprepared for all the moves within the trade. They are unprepared for losses turning into profits and vice versa. And while watching their accounts grow and decrease within a second the subconscious mind kicks in and brings all the fear and doubt with it. As a result, traders tend to make severe mistakes in trade management, which leads to unplanned losses instead of the desired profits. 

Wieland Arlt, Professional Trader, Bestselling Author, and IFTA President

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