January 13th, 2009

Be a Trade Taker Not a Trade Watcher (24 of 26)

Traders can get depressed because they knew the market was going one way or another; however, they failed to enter the market. Usually the response as to why they did not put on a trade is that they were waiting to be filled at the absolute best possible price (and never got filled), or only [...]

January 12th, 2009

Be a Trading Machine (23 of 26)

If you have ever been around or seen manufacturing you know that the machines do the same thing all day long over and over again.  Each machine is good at what it does and if you ask a filling machine to put on the lid or make a cut it does not work. Traders are [...]

January 9th, 2009

Know When to Hold ‘em Know When to Fold ‘em (22 of 26)

We hear all the time that a trade should be scaled out of by one half when you reach a profit target then set your stop loss to break even on the remaining portion of the trade and let it run to see if it will make more money.  By scaling out of a trade [...]

January 8th, 2009

Confidence & Control (21 of 26)

Knowing you can do it BUILDS CONFIDENCE AND CONTROL. How nice would it to be to turn on your computer in the morning knowing that if you play by the Rules, trade with discipline and stick to your methodology, the probability of a successful day is high.  Knowing that you can grow your account even [...]

January 6th, 2009

The Money Pile (19 of 26)

Make a little bit everyday.  Make a pile of money.  Don’t and make a money pit. When you can do this illustration in a demo account then start trading live. Lets take a $1000 account for example: Make $5 a day for 250 days a year = $1250      .005% per day Make $10 a [...]

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