Even though we can analyze very well, the market can be unfriendly to us and that makes our previous analysis messy. In a situation like this we need calm, as much as possible do not panic because it will cause us to do something that we should not do. Therefore, our mental readiness in the worst situation is very much needed, because we will not always be in a bad situation, especially this is a trade that we know ourselves how it is in it. The analysis we do will not give us a guarantee that it is what will happen, we still have to stay focused on paying attention to fluctuating market movements. If possible we can make some plans, so that when the first plan does not work we can use the second plan. A strategy like this will be very useful when facing the worst.
True, but this only concerns your strategy, in trading you can never be completely sure of any deal, the market can present unexpected surprises, so if we are talking about day trading, you need to be ready to react to the situation very quickly, in fact, this is a job that requires your full presence all the time while your deal is open.
With medium-term deals, everything is simpler, you can even use averaging, or other techniques that are acceptable for your strategy, here there are more opportunities to correct a mistake if you decide not to exit the deal but wait for the outcome. This once again shows how important it is to have the right strategy in addition to TA, in trading you can only succeed if you approach it comprehensively.