As we ring in another new year it’s important to keep in mind that nothing changes as much as it remains the same. For example, political power has changed, but the themes remain. Republicans will continue to attack the usual topics including the Dodd-Frank regulations that curtail the healthy financial industry. Democrats will continue to attempt to outmaneuver Republicans in an attempt to stop them.
The turbulence from the political battle will no doubt affect the market (another yearly constant) and cause angst for everyone involved. But, more likely than not, the five trading questions we’ve listed below is what’s really going to keep Joe Q. Trader awake at night in 2017. These trite realities will wreak more havoc on you than politics will on the market. At least it will if you don’t learn one simple thing – you can do nothing about the external realities affecting the market. But, you can do much about the internal forces keeping you awake at night. Nothing changes as much as it remains the same. So without further ado, here are five trading questions traders commonly ask and useful mottos to remember when facing your most common trading angst.
5 Common Trading Questions
Did I make the right trade?
Second guessing your trade is useless. If you researched with forecasts that highlight trend changes and set the trade up properly, you have a high-probability trade with a well-defined in and out based on a reasonable profit/loss. Let it ride. Motto: The trade is made, move on.
How could I have been wrong?
Trades go south. Figuring out what went wrong is important. Beating yourself up over it after the fact is not. Learn from those mistakes and protect yourself with the proper tools. VantagePoint provides a clear crossover on its charts indicating trend changes that can be used to improve your timing on entries and exits. Motto: The trade was made, move on.
Check out this video to see how VantagePoint identifies trend reversals before traditional traders even know what’s going on.
Why did I lose money?
Again, trades go south, which usually means a money loss. But, this is an integral and necessary part of the game. No one wins all the time. The trick is winning more than you lose. See your losses as learning opportunities, nothing more. Utilizing tools like VantagePoint’s Intelliscan will help find trades that are in a better position to move in a given direction. It can also help you identify markets with high volatility that you can avoid until the market becomes more favorable. The goal is to improve your win/loss ratio, not worry about your past losses. Motto: “Fogetta boud it …”
What will the market do tomorrow?
Truthfully, more pundits/analysts get this wrong than right. The market is the collective conscious of millions of humans, so consistently predicting with accuracy the daily behavior is unlikely. VantagePoint’s patented neural networks analyze intermarket relationships and predict market movements with up to 86% accuracy. Utilizing technology will help you sleep at night because it doesn’t have to. Motto: Technology is your friends, let it help you.
Should I even be trading?
For many beginner traders, this question will cause the most sleepless nights. Second guessing your trades, beating yourself up after a poor decision, fretting over losing trades, and betting on what others think the market will do tomorrow will all lead you here. Master the answers to trading questions 1-4 and you are less likely to end up contemplating this question. Something to also keep in mind; trading, like any other skill, it takes time to learn. Stay calm and learn from your losses. Utilize the tools available to maximize your potential. Do these things and the answer to question five will more than likely be yes. Motto: Do it right, sleep at night.
Trade confidently with the help of VantagePoint
Don’t leave yourself unprotected and answering these trading questions on your own. Sign up today to receive a free market forecast from VantagePoint and see how VantagePoint can help make 2017 your most profitable year yet!