December 29th, 2008

Don’t Worry About the News (14 of 26)

Don’t worry about the news by the time you read it, it is history. Early in my trading career I was told to not listen to and TV or radio financial news.  Stop reading Magazines, and newspapers about the financial markets.  Learn to trade with what the market is give.  Trade with what the market [...]

December 26th, 2008

Don’t Turn Your Trades into Religious Trades (13 of 26)

If you think about it if you are praying for a trade to go one way there are others praying for it to go the other way. So the divine intervention you are seeking never seems to materialize.  If you are using the praying method of trading you are not being disciplined and following a [...]

December 24th, 2008

The First Loss (12 of 26)

The first loss is usually the smallest and least painful. When you know that the trade is no good it is best to get out ASAP, do not hesitate or delay or try to think It through just close the trade.  It has been said that it is never a loser until you get out.  [...]

December 23rd, 2008

Stop The Pain Close the Losing Trades (11 of 26)

You are not a loser because you have a losing trade on. You are, however, a loser if you do not get out of the losing trade once you recognize that the trade is not going to come back.  It’s interesting to note how accurate your instinct is as a market indicator. If, you have [...]

December 22nd, 2008

Develop the Skills to Trade Bigger (10 of 26)

You need to develop the skills to trade bigger. New traders should trade at their skill level not their pocketbook or trading account level.  The new trader should not trade with 10-20 lots per trade just because they have the money.  If you can’t trade one lot successfully, what makes them think that they have [...]

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