One must make it a practice to ask few questions to oneself before entering in a trade and these questions should become the second nature for an individual. The questions needs to be asked are as appended below:
(a) What is an individual thinking when he or she is entering in a said trade?
(b) The plan of action i.e. when the profits will be taken out of the trade.
(c) Establish a stop loss as it tells that friend the trade entry and timing was wrong and exiting is the best option.
(d) Where might you think of adding to the trade?

Try to make it a second nature to answer these questions and no sooner one will not be required to remind you and best friend in this scenario is to maintain a diary.
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