Correcting A Misguided Thought Process 7 of 7
We have gone over some guidelines to help keep our thoughts about trading clear and on track. We have talked about:
Having a trading system and a set of rules.
Using trading capital that will not have an impact if it is lost.
Develop a win-loss ratio
Good money management
When we lose it can trigger negative emotions. You can [...]
When should I Review My Trading results? 6 of 7
How much of my account can I lose before I go back to demo trading and review what I am doing wrong.
We have heard from 10% to 35% draw down before you should stop trading and analyze what is happening.
We lean to the 10% area. You will have to decide what is right for you. [...]
Money Management 5 of 7
One of the basic laws to be used with the win-loss ratio is good money management. A win-loss ratio can
be improved with good money management.
The first rule is to trade money you don’t need. If you don’t need the money then you can be more in
control of your emotions and your trading. Make sure that [...]
DOMINATING THE FEAR OF LOSS A 7 PART SERIES
In this series of thoughts we are trying to point out some things to keep traders in the trading game.
The suggestions are not major changes; they are little adjustments to keep you on track. When a trader
starts out with a plan, and follows some rules he will be way ahead in the long run.
The foundation [...]
Safe Banking
We thought this was an interesting study on banks.
Hope you enjoy it.
Also if you are interested here is a quick link to some basic terms in investing that we found easy to follow
Tips for Beginners to Retirement Investing
Safe Banking in the United States
Excerpted from Bob Prechter’s Conquer the Crash
If you must bank in [...]
Small Wins vs. Large Losses
When we first start trading all of us have big dreams of how much money we will be making. We dream of the new life we will be having. All the places we will travel to and the things we will have. What happens to those dreams?
Many of us are so excited to get started [...]
Setting And Accomplishing Realistic Goals
We have all probably heard of the trader who turned $10,000 into over $1,000,000 in one year. Well it has been done but do you really believe you can do it? You’ve also probably seen the ads and websites, which claim big returns with minimal work. Ask yourself, is this the norm or is it [...]
January 9th, 2009Know When to Hold ‘em Know When to Fold ‘em (22 of 26)
This entry is part 22 of 26 in the series The Disciplined Forex TraderWe 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 [...]
January 6th, 2009The Money Pile (19 of 26)
This entry is part 19 of 26 in the series The Disciplined Forex TraderMake 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 [...]
Use Time to Monitor the Loss of a Trade (17 of 26)
This entry is part 17 of 26 in the series The Disciplined Forex TraderYou 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 [...]
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