That's the shot! This is a good practical article! Those 4 points you listed are something I've always used. The Stop use is variable pending conditions. Those outlier limit orders are like getting a bonus payout early. I don't expect them but if they happen then Cha-ching. People fear re-entry. Fear often reflects an insecure mindset right? So for people who want to "Trade" I feel the best thing to do is write down what a Trader is and what a Trader does. This won't be the same for everyone and that's fine. However, it has to be defined clearly in the mind of the individual.
That's the shot! This is a good practical article! Those 4 points you listed are something I've always used. The Stop use is variable pending conditions. Those outlier limit orders are like getting a bonus payout early. I don't expect them but if they happen then Cha-ching. People fear re-entry. Fear often reflects an insecure mindset right? So for people who want to "Trade" I feel the best thing to do is write down what a Trader is and what a Trader does. This won't be the same for everyone and that's fine. However, it has to be defined clearly in the mind of the individual.
Well said mate. Fear is definitely the root cause for majority of mistakes when starting out, imo.