Taking Profit
There are several approaches to taking profit. For example some traders will put on several lots on a trade then when the market reaches a predetermined level they will close a small portion of the trade. They leave on the remainder lots so they can continue to be in the market and gain [...]
January 4th, 2010How To Become A Smart Loser 3 of 7
If you have learned a good trading system and know the mechanics of entering and exiting trades and you
can make money on a demo account, this does not meant you have the temperament to trade successfully.
Most people can learn the mechanics of trading and talk the talk but they cannot walk the walk because
they do [...]
A Hole New World; Moving From Demo To Live Trading 2 of 7
Trading is not a natural endeavor for us. We have no basic skills or understanding of how it works when
we first start out. We have to learn from scratch. Everyone has to start somewhere. Some new traders
have the all or nothing attitude with little or no training and soon lose some of their trades. Once [...]
A Trading Plan and Discipline = Keys To success
“Only a trader with a solid, tested trading plan and the total discipline to execute that plan,
in all its aspects, will be equipped to take advantage of market opportunities and be a
consistently successful trader. All others will fail.”
Now ask yourself a couple of questions.
QUESTION 1:
How many times have you done a little chart [...]
Answer To A Question # 17
Question:
Your site looks great and seems very informative. I was wondering what the difference is between
the Jump Start and Launch pad system that costs money? I’m sure there is value in spending the
money on the system, I am just looking for some more details. Also, can you map out an average
day for [...]
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 [...]
You get paid to wait (2 of 26)
This entry is part 2 of 26 in the series The Disciplined Forex TraderWhen you are waiting for the market to set up and give you the proper entry or exit signals you are showing discipline. When you exercise discipline you will make more money and lose less money. There is one constant truth about [...]
December 2nd, 20088 of 10: “A Go-for-Broke” Attitude
Awareness # 7- “A Go-for-Broke” Attitude
Demo trading can be fun and we believe it definitely has its place when you are learning to trade the Forex markets. It’s also appropriate when practicing your entry and exit signals.
BUT trading forex in a demo account is NOT a video game where the entire purpose is all “fun [...]
False Sense Of Security May Cost You
A trader can be in a trade that goes down but is only a little against him. He has his stop on at a comfortable level but he knows the trade is wrong but stays in because the stop has not been hit. Since he has not been stopped out he holds on thinking it [...]
August 15th, 2008Types of Exits
When exiting a trade, you can do so under four different assumptions. In the best of worlds, exit technique number one is the profit target. Exit technique number two is the trailing stop, which comes into play when the market is starting to move against you after you have accumulated an open profit. Number three [...]
keep looking »Social Links
