Speculators Always Lose (15 of 26)
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 [...]
December 29th, 2008Don’t Worry About the News (14 of 26)
Don’t worry about the news by the time you read it, it is history. Early in my trading career I was told to not listen to and TV or radio financial news. Stop reading Magazines, and newspapers about the financial markets. Learn to trade with what the market is give. Trade with what the market [...]
December 26th, 2008Don’t Turn Your Trades into Religious Trades (13 of 26)
If you think about it if you are praying for a trade to go one way there are others praying for it to go the other way. So the divine intervention you are seeking never seems to materialize. If you are using the praying method of trading you are not being disciplined and following a [...]
December 23rd, 2008Stop The Pain Close the Losing Trades (11 of 26)
You are not a loser because you have a losing trade on. You are, however, a loser if you do not get out of the losing trade once you recognize that the trade is not going to come back. It’s interesting to note how accurate your instinct is as a market indicator. If, you have [...]
December 22nd, 2008Develop the Skills to Trade Bigger (10 of 26)
You need to develop the skills to trade bigger. New traders should trade at their skill level not their pocketbook or trading account level. The new trader should not trade with 10-20 lots per trade just because they have the money. If you can’t trade one lot successfully, what makes them think that they have [...]
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