Thursday, May 15, 2008

Avoiding Bad Trading Habits


Reader Fan Mail Q&A-

Hi HPT,
I'm a good scalper, with most days being profitable, but when I get down X amount of dollars, the emotions turn on, and I go on tilt and have a big blow up. What do you recommend I do?
Thanks,
TraderJoe

Hi TraderJoe,
You are making the same mistakes that I have been making on this blog for years now. I would recommend setting a daily loss limit. Get a broker or software that has this feature. If you are not wise enough at setting daily loss limits then you will surely run into this bad habit again and eventually lose all your money.
Sincerely,
HPT

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