Control Your Urges

One of my personal rules is that I do not want to enter into any trades before 1015am, unless it is an extremely compelling situation at the 940am mark.

This is because I know that more often than not, there will be sudden reversals at the 945am and 10am mark. (Been burnt many times.) And the 15 minutes after 10am can also be tricky.

Hence my “no trading until 1015am” rule.

However, it can be extremely difficult to control my urges to want to jump into a trade especially when I see a stock moving strongly in a particular direction.

So therefore, the bottomline is:

I know that I will end up with more losses and frustration if I break the rule.

And a bad first trade may negatively affect my mood and temperament for the rest of that trading day, which is a very dangerous thing.