Can You Learn The Forex Market
We visited Springfield Illinois where Abraham Lincoln lived and had a successful law practice. We were able to take a tour of the house where he lived when he ran for President of the United States. The guide shared with us that the house was small when they first moved in and as he became [...]
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 [...]
NINE: Balanced Life Trading
Trading is all about making money. If you are doing it for any other reason then you are doomed for failure. You need to trade from good old mechanical thinking, which is a mark of a good trader. You get a signal you make a trade you get another signal you exit a trade. Large [...]
July 29th, 2008EIGHT: 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 [...]
July 25th, 2008SIX: You Are In Charge
You are responsible for your success or failure as a trader. You’re in charge of your trading, not the platform, not your broker, not your trading group Just you. If something goes wrong you are the one that has to figure what to do to get out of any given trade.
One of the best things [...]
Five: If You Can Picture It You Can Create It
By seeing a trade develop you can see in your mind a win or a loss. Also in the markets can be seen what self-destructive behavior may impair your trading. When the price is moving in front of you, you start to anticipate what the market will do.
When traders enter the market they need [...]
July 23rd, 2008Four: Think Of Trading As Points And Percentages
We talked about the amount of risk a trader has in the market now it is time to talk about how you feel about money. If you have a big attachment to money then it will cause a big emotional strain when you lose some of the money.
One of the hardest things a new trader [...]
July 22nd, 2008THREE: Start Out Small Then Add On
One of the biggest mistakes a trader can make is to over trade their account. They can trade too much of their account or have two much on one trade. The more a trader puts on one trade the more emotional energy they use. Eventually they could blow up their account and have to start [...]
July 21st, 2008TWO: A Trading Plan, Having and Using
Trading any of the financial markets is a one on one activity. If someone is going to do it for you it is you. You will need to follow a trading plan and guess who is going to have to write that trading plan. You can get examples of how to construct a trading plan [...]
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