Tuesday, August 15, 2006

Impulse Trades

Three things to know about Impulse trades for scalpers:
  • Impulse Trades are a strict No-No
  • If you do take it by mistake, don't do it again if you want to be a serious profit-making trader
  • Ok, you did take an impulse trade ? Do the following:

Watch it more carefully than you would do with a normal trade that follows your system.

Keep a stop loss in mind immediately and no matter what, GET OUT at that level. If it moves in your direction, trail it with the same rigourous discipline.


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