When trading in the stock market one of the most important things that you can have is patience.
You want to be able to wait until the time is just right before you get in.
Anyone can create their own trading rules but actually following those rules is what sets apart the people who are making money and the ones who are not.
There are always times when you may look at a stock and really want to get into that position.
But if it is not giving you a buy signal based off of your own specific rules, then it is not a good trade.
It is also hard to want to sell at the right time.
Let's say you buy a stock at $50 and it goes up to $120.
That $70 profit is going to look really good and is going to want to force you to sell the stock.
But if your trading rules are telling you not to do it you have to follow them.
I admit it can be hard to be patient, but I have also learned from personal experience that not following your rules can work against you in a big way.
So what can you do to avoid jumping the gun and get into a stock before it gives you a trigger point? Well for one thing you can walk away.
I only look at the market a couple minutes a day and I think that helps me to not make mistakes I would have normally made.
If you are getting very emotional trading it is probably better to go concentrate on something completely different.