Letting 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 [...]
August 15th, 2008Types 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 [...]
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