The Eleventh Cardinal Mistake:
CHANGING YOUR STRATEGY
DURING MARKET HOURS
During market hours you are subject to emotional reactions of fear and greed much more than you are when the market is closed. Have you ever noticed that when you sit down in the quiet of the night before the trading day you can very calmly figure out what you want to do the next day; yet, shortly after the market opens you do exactly the opposite of what you had planned.
With rare exception, the best approach is to not change your trading strategy during market hours unless there is an unexpected news event or market reaction.
Overcome this mistake by developing your trading strategy before the market opens and having the discipline to not change your game plan during the day.
Next: The Twelfth Cardinal Mistake: Lack of Patience
Back to Cardinal Mistake #10
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