December 30th, 2008

Speculators Always Lose (15 of 26)

Written by Kirk | Leave a Comment

Topics: Disciplined Trader Series, Planning A Trading Career, The Disciplined Forex Trader

I have never met a successful speculator. It is impossible to speculate and consistently have large wins. Don’t be a speculator. Be a trader.

Trading in the direction of the trend on a 1 hr or 4 hr chart is always a good way to trade.  Use good money management techniques with proper stop loss settings and you will be way ahead of the speculators.  Most traders that do scalping are not profitable.  There are some that can do it but they learned at great expense.

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