The One Thing Every Trader Should Have In Their Trading
The One Thing Every Trader Should Have In Their Trading
Back on January 17th, 2008, we posted a blog about the 6 things to leave out of the market. They are:
Emotion: Wanting the market to go a certain way.
Revenge: Some people think they will get even with the market…
Anger: People will get angry with themselves and [...]
5. Create a magnificent trading picture. 5 of 12
This entry is part 5 of 8 in the series Create Trading PlanLet your trading journal teach you what you need to do more of. Create collateral (a pile of good trades in your
trade journal) that educates you and compels you to see the way you should trade. Make sure your trading journal
include tons of [...]
4. Develop your core strengths. 4 of 12
This entry is part 4 of 8 in the series Create Trading PlanIdentify the top three compelling strengths, you have uncovered for trading the currency market. Your strengths
should be easy to spot. Then make those strengths the core foundation that you use when trading. You may be good
at picking entry points. You may be good [...]
Big Gain, Little Gain = Big Loss, Little Loss Which Is For You?
There are forex traders that make livings by making large gains with large losses. Then there are
traders that make a living with small gains and small losses.
Which ever style a trader uses they must be aware of what they are doing and keep the size of the
wins and the size of the losses in relation [...]
Drawdown’s Against Profits And Confidence
(1 of 2)
Kirk and Jed,
I wish not to make this eloquent or excessive in verbiage. With this being said, let me continue.
This week was a difficult week. Trading was down as were my emotions and confidence. In times past, I would not let any given loss disrupt that which I was trying to obtain. However, [...]
Become Good at Losing (16 of 26)
This entry is part 16 of 26 in the series The Disciplined Forex TraderWe get a lot of questions and comments about what this means. You should know by now that you will lose sometimes when trading. That does not mean you will lose all of your account unless you use poor money management techniques [...]
October 10th, 2008“Ham and Eggs: A days work for a chicken, a life lost commitment for a pig.”
For the record I love ham and eggs. This is not a plea for pita. I saw this quote and had Awe ha! Moment, I wanted to share.
Let me ask a personal question. How do you trade? Like a pig or like a chicken? A pig trader is one who jumps into the market unaware [...]
Successful Traders Summaries
Here are some thought by some of the best stock traders. Good trading principles apply in all markets.
Also, everyone who is truly interested in Forex should read as widely as possible.
Jesse Livermore: The World’s Greatest Stock Trader by Richard Smitten
1. Don’t lose money
2. Always Establish a Stop
3. Keep Cash in reserve
4. Let the (Successful) [...]
Personality And Trading Style
Much of a trader’s success has to do with his personality matching up with the trading style he chose. No matter what the approach is you must plan your trades and trade your plans. If not, your strategy is no better than random, and that is hardly a stable platform for long-term success.
If a trader [...]
Are You A Trade Rusher?
There are traders that lose money month after month, and the reason is that they always rush into trades without studying them carefully and seeing which way the trend is going or waiting for any sort of retracement before entering the trade. They see a breakout on a currency pair and put in orders to [...]
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