July 31st, 2009

3. Identify your remarkable strengths. 3 of 12

As part of you trading plan you should find out your win-loss ratio.  This can be done by using the “Trade Tracker”. When you purchase launch Pad you will find the “Trade Tracker” as one of the tools.  By tracking groups of say 20 trades at a time, and filling out the questions on each [...]

July 29th, 2009

2. Define your ideal trade. 2 of 12

New traders try to learn how to do everything and never become good at anything.  You must narrow your trading focus to grow.  Look at your current personal schedule.  What time do you have available to trade?  Why are you trading in the first place?  You’ll probably find that you can only trade a certain [...]

July 27th, 2009

Create a Stellar Trading Plan in 11 Easy Steps 1 of 12

The single most powerful trading tool on the planet is a trading plan. Now before you roll your eyes and run for the hills, let me clarify. I am not referring to an academic exercise from a book. I’m talking about a simple plan that details who you are, what you are going to do, [...]

July 24th, 2009

Discipline

Discipline is the ability to be patient – to sit on your hands until your system triggers an action point. Sometimes the price won’t reach your anticipated price point. At this time you must have the discipline to believe in your system and not to second-guess it. Discipline is also the ability to pull the [...]

July 22nd, 2009

Objectivity

Objectivity or "emotional detachment" also depends on the reliability of your system or methodology. If you have a system that provides entry and exit levels that you know have a high reliability factor, then you don’t need to become emotional or allow yourself to be influenced by the opinion of others and outside sources who [...]

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