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Trading By Day, Sleeping By Night - By Paul Handfo
This article has been formatted in Courier font set at55 caractors per line. 526 words. If you require a different format or wish a shorter article please submit your request to Laurette Trudeau at: mailto:l.trudeau@netzero.com?subject=re_sleeping_by_night_submissionThanking you for your time, Laurette TrudeauArticle Publication Manager for Paul Handforth of "The-Way-To-Trade.Com".ARTICLETrading by day, sleeping by night - by Paul HandforthTrading is without doubt one of the most challenging, rewarding but elusive skills you can ever undertake to master. The highs and lows of the market can take you from the peak of joy to the depths of despair in minutes.I've heard many true stories of traders so wrapped up in the buzz of the market they are unable to sleep at night. Indeed that was my own experience in the early days. So, in this energetic atmosphere how do you switch off from trading and take a good night's rest? I'll let you know in a minute…First of all it is important to realize the damage being caused by loss of sleep. To trade effectively you must maintain peak mental awareness. During sleep the body and mind renews itself, fresh for the start of another day. Lack of sleep leads to reduced mental capacity and poor decision making. Mix these two deficiencies into the highly charged trading arena and you will be hit where it hurts the most - with losses in the market.An inability to sleep at night is usually the result of stress about a part of our lives we cannot control. So to reduce sleeplessness you must focus your attentions on how to reduce the stress involved with trading. Stress arising from trading is the result of the mistaken belief that we can somehow control the market. You cannot control what the
market does but you can have 100% control over how you react to what the market does. If you fully understand the implications of this statement you are well on your way to successful trading.Stress can be wiped out by operating in the market under a fixed set of winning rules - you may want to call this a system. These rules are common to trading over any timeframe and should cover no less than the following:· When to enter a trade· What size of position to take· When to exit a trade· When and where to move a stop· When to add to a position· When to reduce a positionIf you can follow your own rules (and many cannot), then no longer do you feel as though the market has worked out how "it" can take your cash from the moment you place a trade. Each and every action you take in the market will be the result of a pre-determined reason for that action. Once you reach this stage the stress the market can cause you is at an absolute minimum and you are ahead of 95% of traders in the world. Then the profits should begin to flow and sleeping is peaceful.If you follow the above guidelines, but your lack of sleep remains due to thoughts about positions you are holding overnight, then there is only one answer:Sell down to the sleeping point!!This applies to trading in any market but is espeacially helpful to those traders who are trading for profits in futures, e-mini, stocks, options or forex, whether swing trading, day trading, position trading or trend trading.Happy Trading To All. Author Paul Handforth., Reveals the "Inside Secrets" of effective trading in any financial markets to those who want to succeed at trading and are willing to do what it takes. To learn more click here:mailto:ebookinfo@the-way-to-trade.com.
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