Does anyone have any suggestions on what kind of mind set you need in executing an order successfully? When people analysis too much, they cannot execute any order, thinking too much is the barrier on execution during trading.
Does anyone have any suggestions on what you have in mind if you are an execellent trader in executing an order during trading? Any magic words will make me feel good on execution with a clear mind set?
Thanks in advance for any suggestions
Eric
Mind set in executing an order successfully?
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"thinking too much is the barrier on execution during trading"
There should be no "thinking" involved during execution of a trade. Your method has dictated what to buy/sell, when to buy/sell it, what price to buy/sell it at, how much to buy/sell, when to add to a position, when to exit a position.
Execution is simply implementation of your trading plan. As previously mentioned the important aspect is doing exactly what your plan dictates - no more, no less, no thinking, no analysis, no procrastination, no worrying; just well-defined, pre-determined, accurate, action.
Hope this helps
Paul
There should be no "thinking" involved during execution of a trade. Your method has dictated what to buy/sell, when to buy/sell it, what price to buy/sell it at, how much to buy/sell, when to add to a position, when to exit a position.
Execution is simply implementation of your trading plan. As previously mentioned the important aspect is doing exactly what your plan dictates - no more, no less, no thinking, no analysis, no procrastination, no worrying; just well-defined, pre-determined, accurate, action.
Hope this helps
Paul
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As I see it, assuming you are trading a 100% mechanical system, there should be no need for trade execution other than placing orders with a broker thereby removing the emotional aspect from the equation. In the ideal world, even order generation would be fully automatic, and one could leave the system well alone apart from periodic checking of account equity.