Questions for Quinto: Check Your Emotions At the Door

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Kevin Cook interviews the industry’s elite players on weekly trends in the market. Options investors must be cognizant of their surroundings for smart trading. Rely on ONN.tv’s Mark2Market for the important insight into energy and commodities.

Jeff Quinto provides insight on the importance of having a trading plan to maintain discipline, confidence and patience. But emotions can “send them on a domino,” Kevin Cook says. Quinto says, “When you trade emotionally, the emotions take over and the plan gets thrown out. Now if you’re really good at this, the plan is the most important thing and the plan goes forward.”

Quinto recalls traders following their plan, “and it worked beautifully.”

Quinto adds, “We’re so afraid we’re going to miss something that we jump in too early. Then the time we finally decide to wait, that’s a mistake as well.”

“In trading, the important thing to remember is the second mouse gets the cheese,” Quinto reminds viewers.

Cook says traders should “wait for confirmation.” Traders need proof that they’re doing the right thing. Quinto says jumping in too early is “fear-based.”

“The most important things is what are we doing right here in front of us,” Quinto remarks.

Futures trading involves risk and leverage and may not be suitable for all investors. Past performance is not indicative of future results. Be sure to consult the National Futures Association Web site at www.NFA.futures.org and the Commodities Futures Trading Commissions Web site at www.CFTC.gov to learn more about the risks associated with futures trading and managed futures.