Personality And Trading Style
Much of a trader’s success has to do with his personality matching up with the trading style he chose. No matter what the approach is you must plan your trades and trade your plans. If not, your strategy is no better than random, and that is hardly a stable platform for long-term success.
If a trader [...]
O.P.L.P. Approach To Trading
Here are a couple of ideas of how to shorten the learning curve in foreign currency trading.
OBSERVE the good trading habits of others. You can get this information from some of the following areas
1. Personal observation
2. Seminars / webinars
3. Books / magazines
4. Reconstruct trades you hear about and see what the market was saying [...]
False Sense Of Security May Cost You
A trader can be in a trade that goes down but is only a little against him. He has his stop on at a comfortable level but he knows the trade is wrong but stays in because the stop has not been hit. Since he has not been stopped out he holds on thinking it [...]
August 22nd, 2008How Much Of My Account Should I Risk?
When a trader first starts to trade there are many things to learn like:
1. How to use the platform
2. Which trading style I should use
3. Which indicators should I use
4. What time frames best meet my life schedule
5. How much money should I trade with
6. How much should I place on each trade
7. How much [...]
How The Currency Market Stacks Up
I was reading an article in e-FOREX magazine. It was talking about a survey that was taken that highlights the activity of the foreign currency market. It said “Did you know that the market in daily Foreign Exchange volume is bigger than those of OTC Interest Rates, Us Treasuries, Us Equities and Europe, Middle East [...]
August 20th, 2008Letting Winners Run
There is an old saying that says you should “let your profits run”. In regards to this there are two schools of thought. One: this is good advice and it should be followed. Two: it is better to be consistent and follow your system and take several trades out of the long run. The down [...]
August 19th, 2008Setting Stops To Close
We feel that there is only one thing worse than not using a stop loss and that is setting the stop to close to the entry price. We really get frustrated when we set our stop the market moves against us, stops us out then moves in the direction we had originally planned. There is [...]
August 18th, 2008Best or Worst trader Or Be The Best You Can Be
When studying traders that seem to have it all together learn concepts do not try to copy exact. We want to know what they did and exactly what happened. That is good in trying to learn but do not compare yourself to other people; Just compare yourself to your own efforts.
Yoga students do not compare [...]
Types of Exits
When exiting a trade, you can do so under four different assumptions. In the best of worlds, exit technique number one is the profit target. Exit technique number two is the trailing stop, which comes into play when the market is starting to move against you after you have accumulated an open profit. Number three [...]
August 14th, 2008Which Is Best: Trading on Offense or Defense?
We have all been told that we should only trade with money we can afford to lose. This does not mean to be wild and care free with your trading money. So we do not want to think of our trading account as money you can afford to lose. We just have to know that [...]
keep looking »Social Links
