After our article on preparations before live trading, we have come to the part that truly matters, live trading. In this article, we will be going through what are the things to do and not to do during trading. With a well thought out trading plan, it is time for the execution.
Monitor Your Trades
While watching over your positions is necessary, how closely should you monitor them is a tricky question. Some would say to let the position play out on its own while others say to monitor your position closely. I would say the answer to this is it depends on what time frame you are trading and how tight your stop-loss is.
Many new traders like to watch over their trades very intently. Instead of letting their trades being taken out by the market, new traders like to manually exit the positions before their profit