Be Able to Trade Another Day (9 of 26)
You always want to be able to trade another day. If you really want to trade then you should never put yourself in the position where you have lost your trading capital. One of the most frustrating feelings is when you want to trade and you can’t because you lost most of your trading account. [...]
December 17th, 2008Develop a trading plan and Stick with it (7 of 26)
Develop a trading plan and Stick with it. Do not change your trading plan from day to day Just like a business needs a plan a trader needs a plan. Write down the specific market prerequisites (setups) that must take place in order for you to make a trade. List the time of day the [...]
December 8th, 2008Two Big Trading tools (1 of 26)
The first tool is your trading system or the methodology you use to enter an exit the market, your trading system. You need to be very good at the trading system before you can enjoy any success as a trader. Once you have mastered your trading system it is like riding a bike or driving [...]
December 5th, 2008Only take little losses (18 of 26)
A big win can take care of many small losses and a big loss can wipe out many small wins. It all boils down to money management, following some trading rules, and being disciplined. Enter a trade put on a stop loss take a small loss. -$8 Enter a trade put on a stop loss [...]
October 28th, 2008Setting Sail Without A Plan Is A Sunken Ship!
Every mariner knows that he must plan his voyage in advance in every detail. He must determine what currents will take him to his destination. What current conditions will be present or possible during the voyage. What supplies he will stock his ship with. Who his crew will be and what skills sets they bring [...]
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