About Sk Trader

Website: https://satkitrader.wixsite.com/website/blog (Do follow for latest post and analysis) (Please do your due dilligence all posts are not BUY or SELL calls but personal analysis and thoughts)

Don’t trust your own opinion and back your judgment until the action of the market itself confirms your opinion.
Markets are never wrong – opinions often are.
Jesse Livermore

As the saying goes, if you fail to plan, you plan to fail, as a trader it is important to plan for every trade as if he was going for a war. A trader will need an entry price just like how troops need an incision point to infiltrate the enemies. A trader will also need a stop loss price, which is the trader’s escape route should things turn against him/her. Also, the trader needs to know where his/her target is, just like how troops need to know what is their mission objective. Last but not least, the trader will also have to be like a commander, assessing the risk taken for every trade and the possible reward one can get from the trade.