How does one deal with FOE (Fear of Entry)? | Psychology and Money Management


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How does one deal with FOE (Fear of Entry)?

  #15 (permalink)

Detroit michigan usa
 
 
Posts: 8 since Aug 2013
Thanks: 0 given, 7 received

Great advice

Mark Douglas basically says to not depend on ONE SINGLE TRADE, rather focus on the success of 20 trades. This is due to the fact that your EDGE will not work every time and that you should evaluate your EDGE with a SERIES OF TRADES to evaluate the effectiveness of the strategy.

As of March 2019, I am investigating Interactive Brokers "iBOT" technology for execution. It is a Voice Command interface that allows you to use a HEADSET to enter and exit trades ( gets rid of the time / shaking when uising a mouse).

I agree with the above advice about having confidence in your strategy, If you have tested your strategy out with sim trading, you will find it easier to trade.

Another tip : Switch to the mini DOW / mini SP since they are only 5$ per tick; wont freak you out as much when it is running against you.

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