Trading in Larger Time Frames
There are three main trading styles.
They are:
Day traders 1-5-15 minute time frames
Swing traders 30 minute to 4 hour time frames
Position traders 1day and longer
(These are general rankings for the time frames of the trading styles)
Day traders go for smaller numbers of pips and large number of lots. They are in and out of the [...]
When Adding Positions Follow These Guidelines
a. Add only to winning positions.
b. Never add to a losing position. One of the most important money management rules that a trader should never break is ‘Never add to a losing trade’.Trades are split into winners and losers, and if a trade is a loser, the chances of it turning right around and becoming [...]
Holding Trades For A Few Minutes or a Few Days
We hear the pros and cons of trading short term vs. long. If a traders wants to sit in front of their computer for long hours day after day then they can trade short term. If traders love to trade and want to have a life in addition to trading they should look [...]
June 19th, 2008Trading Smart vs. Trading Hard
Have you ever heard that a change is as good as a rest? Have you noticed that you can get more done after having an extra day off, i.e. a vacation or holiday?
There was a study done with some men that were unloading heavy objects from railroad cars. The first group would unload one item [...]
A Conversation I Had
I was talking to another trader about what a currency pair was setting up to do. We both came to the same conclusion. We were waiting for the 4 hour chart to create its next candle to see what the market was saying. What we were looking for was the changes in direction on the [...]
June 13th, 2008Trending Markets
How to benefit from the trend:
Know what the trend is.
More good trades are made in the direction of the trend.
To get the overall picture of the market use multiple time frames.
Get the trend on a large time frame.
Wait for a pullback on a small time frame.
Wait for the market to come to you.
Let the market [...]
Thoughts On Trading With The Trend
If you want to become a better trader you must trade with the overall trend of the market. This alone will increase your chances of success dramatically. The difference between being a winning and a losing trader is trading with the trend. The overall trend is longer than the sum of the counter trends, so [...]
June 9th, 2008The Magic of Money Management
When most traders start to trade they think of entering and exiting trades as the most important part of trading. Then one day it dawns on them that there is more to trading; it is called Money Management. By controlling losses and protecting profits, a consistent building of your account becomes a reality.
Trading is just [...]
Two Trades on the 5 Min. Chart
In this video I show 2 trades I made based on the Jump Start strategy on the 5 minute chart.
June 5th, 2008Important Points about Trading Systems
You May Make Money With Trading Systems If:
You use a system that has a greater chance of winning over losing.
You have back tested the system properly.
You use a system that will work in different markets.
It has solid rules to trade by.
You work just as hard at the exits as you do on the entry.
You use [...]
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