Develop a trading plan and Stick with it (7 of 26)
Develop a trading plan and Stick with it. Do not change your trading plan from day to day Just like a business needs a plan a trader needs a plan. Write down the specific market prerequisites (setups) that must take place in order for you to make a trade. List the time of day the [...]
December 16th, 2008Keep things in perspective (6 of 26)
Keep a trade log or journal of your trades for the day or week. If you know that your biggest winner is 50 pips then do not allow a losing trade to be larger than 50 pips. If you do allow a loss to exceed your biggest gain then, effectively, what you have when you [...]
December 15th, 2008Forex Christmas Contest: Win Launch Pad!
Whether or not you celebrate Christmas we hope you will join in and benefit from our excitement for the holiday season. We are holding a Christmas contest to bring in the holidays and want to give one lucky participant the chance to learn Forex Trading for free. The contest runs for 7 days (from Dec. [...]
December 12th, 2008Never Turn a Winner into a Loser (5 of 26)
Have you ever done let a winner turn into a loser? We all probably have especially in the beginning of our trading careers. This is one of the first steps in learning how to manage a trade and use good money management techniques. When you let a trade move against you that means that it [...]
December 11th, 2008Always Scale Back When You are Trading Poorly (4 of 26)
When things are not working out for you cut down on the size of the lots you trade until you get back on track again. All good traders will follow this rule. Why continue to lose on five lot trades when you could save yourself a lot of money by lowering your trade size down [...]
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