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 [...]

January 2nd, 2009

Use Time to Monitor the Loss of a Trade (17 of 26)

You can determine that you will get out of a trade before a news announcement or you will not carry a trade over a weekend.  These are good ideas if you are in a trade that is going against the trend.  Many times the market will move because of news, then just return to the [...]

December 31st, 2008

Become Good at Losing (16 of 26)

We get a lot of questions and comments about what this means.  You should know by now that you will lose sometimes when trading.  That does not mean you will lose all of your account unless you use poor money management techniques or none at all.  It means don’t get all emotional about a loss [...]

December 30th, 2008

Speculators Always Lose (15 of 26)

I have never met a successful speculator. It is impossible to speculate and consistently have large wins. Don’t be a speculator. Be a trader. Trading in the direction of the trend on a 1 hr or 4 hr chart is always a good way to trade.  Use good money management techniques with proper stop loss [...]

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