Hidden Biases Can Affect Your Trading – Here’s How
Hidden Biases Can Affect Your Trading – Here’s How
Don’t let your hidden bias dictate the way you look at the charts.
Look at the charts with an open mind and make sure the market proves to you what it wants to do.
In this week’s Ninja Trader’s Charting Edge, we have the Bitcoin with the same old indicators we use almost every week. We have a lot of people talking about this market and asking when its trend will stop. We never know when a market’s going to stop moving. Let the market prove to you to get in, and let the market prove to you to get out.
Your hidden bias on the market can hurt your ability to trade with a clear mind. It is causing you to fight the market instead of going with it. Focus on seeing the market for what it is.
I’ll take you to something I tweeted this week, ” Cut your losers and let your winners ride sounds good and easy, but this as a blanket statement will hurt many traders because they’ll over trade and spend a ton on commissions and fees.
The focus should be on recognizing the environment and conditions that tell you to cut your losers or hold your winners.
Final thoughts for today “Traders, remember, don’t let your hidden biases get in the way of the way you’re looking at the charts in the market.”
Develop Your Edge is a weekly talk show hosted by 22-year futures veteran and CME member Anthony Crudele, an ex-pit trader and one of the first to trade the E-Mini S&P. Past performance is not indicative of future results. Neither Anthony Crudele nor his guest’s guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed on this website or on the show. Strategies or investments discussed may fluctuate in price or value. Investors may get back less than invested. Investments or strategies mentioned on this website or on the show may not be suitable for you. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. You must make an independent decision regarding investments or strategies mentioned on this website or on the show. Before acting on information on this website or on the show, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.
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