Chin UP!
"Thrice happy is the man that has a glorious history. Far better it is to dare mighty things, to win glorious triumphs, even though checkered by failure, than to take rank with those poor spirits who neither enjoy much nor suffer much, because they live in the gray twilight that knows neither victory nor defeat." [...]
October 3rd, 2008Trading With Emotion
Here is a comment from a trader that is trading with price movement rather than the trend.
“This really reminds me of my experience as of late. Every time the market moves against me, I wait until I just can’t take any more unrealized loss, then reverse the position hoping that the momentum will help me [...]
Great Success, Small Success
Can anyone be trained to trade for a living? I would say a LOUD yes…. and no.
A great deal can be “taught” like a working strategy. But a lot cannot be taught. One trader will have great success and another just a little success trading the same strategy.
There is something that some [...]
Market Guessing Game
I found this amusing. I was asked to go to this chat forum and see what they were saying about the market. Here are four of the comments I saw.
Hi, I join the tread started by ……. and ask you guys the same question about GBPUSD the coming week, any views on where we are [...]
Traders Don’t Change Because… Traders Can Change If…
I came across a couple of quotes I want to share with you:
“Wall Street never changes, the pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes” Jesse Livermore
“In order to make a success, the trader must act in a way to overcome the weak points that [...]
Which Is Best: Trading on Offense or Defense?
We have all been told that we should only trade with money we can afford to lose. This does not mean to be wild and care free with your trading money. So we do not want to think of our trading account as money you can afford to lose. We just have to know that [...]
August 8th, 2008The Importance of Losing when Trading
In real estate the three most important things to an investor are location, location, location. In trading the three most important things are: money management, timing your exits and timing your entries; in that order. More important than how much you make on a trade is how little you lose on the losses. When you [...]
July 31st, 2008TEN: Must Have Trading Tools
A trader must see the big picture in trading to survive and prosper. If you only look at the small time frames you are only seeing the foothills of a tall mountain. It is necessary to look at the larger time frames and trade in the direction of the larger trend.
If a trader is going [...]
EIGHT: Trade Less Make More
Everyone needs to find the time of day that is best for them be it emotionally, time restraints, or alertness (when you are not tired of fatigued). Once you find that magic time for you then build your trading around your schedule not what works for others.
Once you have the time to trade, decide [...]
July 28th, 2008SEVEN: Call It What It Is
If you take trading seriously you will think of trading as a business. Not just a hobby, or a way to get a quick rush, or a way to escape life’s problems, or a way of spending some of your extra time. You can think of trading, as a lot of things but to make [...]
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