January 20th, 2009

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 [...]

January 16th, 2009

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, 2009

Know When to Hold ‘em Know When to Fold ‘em (22 of 26)

We 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 see if it will make more money.  By scaling out of a trade [...]

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 [...]

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