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 [...]
June 27th, 2008When 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 [...]
June 26th, 2008Holding 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 at using [...]
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 [...]
June 16th, 2008A 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 [...]
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