Which trading practice will help you the most in managing your open positions?
I need ALL of them, of course. Otherwise my “perfect” trading plan will result in chaos.
Updating my stop losses and adjusting my position size is important too. It can spell the difference between a losing trade and a break even trade.
Being flexible is the key to a winning trade. There’s no such thing as a perfect initial trading plan, so I’ll need to adjust pretty often while my trade is open.
Keeping in touch with the market is the most important. Even technical purists know what’s going on in the markets at all times.
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