Principles For Money Management
When new traders start learning how to trade, most of them, think it is all about entering and exiting trades. Yes that is a big part of trading but you will become more successful if you learn how to manage your money. Here are a few tips about managing your money 1. Never trade without [...]
January 23rd, 2008How to Keep Emotion Out
Last week I posted 6 things that need to be kept out of your forex trading. With this post, I want to just focus on just one of them: Emotion. If you’ve been around the market long enough you have heard traders say that you must trade without emotion, but how do you do that? [...]
January 22nd, 2008How Much Should You Trade?
This is a common question I get. It will probably be different for everyone, but I would suggest that trading be kept small unless you are very well financed. That way, the way the market moves and not your own financial condition will influence how you trade. On the other hand, if you don’t start [...]
January 18th, 2008Start Out Small, Gain Experience
When you are just starting out, be a small trader. Even if you have a lot of risk capital you should start out with a mini account. At this time you need to learn the industry and it’s terminology, the way your brokers does things, the way the platform works, how to use some indicators, [...]
January 17th, 20086 Things That MUST Not Be Used In Your Trading
There are certain things that must be kept out of your trading, such as emotion, revenge, anger, your pocketbook, and fear. Every trader should follow a set of rules or guidelines in order to be a successful trader. When you trade without rules, you are essentially trading blindfolded. Emotion: Wanting the market to go a [...]
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