July 17th, 2009

Patience

Once you know what to expect from your system, you must have the patience to wait for the price to reach the levels that your system indicates for either the point of entry or exit. While you are waiting for the indicators to give you the entry sign you can look at other currencies and [...]

January 15th, 2009

The Market Does Not Care If We Win Or Lose (26 of 26)

The market will move up, down, and sideways.  It does not care about any one trader or any one institution.  It does not show favoritism in any one direction it just goes up and down just like it should do.  It does not discriminate. It does not intentionally harm any one individual.  The market is [...]

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 8th, 2009

Confidence & Control (21 of 26)

Knowing you can do it BUILDS CONFIDENCE AND CONTROL. How nice would it to be to turn on your computer in the morning knowing that if you play by the Rules, trade with discipline and stick to your methodology, the probability of a successful day is high.  Knowing that you can grow your account even [...]

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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