Finding Confidence in the Stop Loss Principle
Finding Confidence in the Stop Loss Principle
I spoke with one of our coaching students today. He has been through the product courses (Launch Pad and Nth Degree) a total of
three times each. He has been entering trades based on the signals and he told me he is finding great benefits from having the courses
as a [...]
Discipline
Discipline is the ability to be patient – to sit on your hands until your system triggers an action point.
Sometimes the price won’t reach your anticipated price point. At this time you must have the discipline to
believe in your system and not to second-guess it. Discipline is also the ability to pull the [...]
Develop a trading plan and Stick with it (7 of 26)
This entry is part 7 of 26 in the series The Disciplined Forex TraderDevelop a trading plan and Stick with it. Do not change your trading plan from day to day Just like a business needs a plan a trader needs a plan. Write down the specific market prerequisites (setups) that must take place [...]
December 16th, 2008Keep things in perspective (6 of 26)
This entry is part 6 of 26 in the series The Disciplined Forex TraderKeep a trade log or journal of your trades for the day or week. If you know that your biggest winner is 50 pips then do not allow a losing trade to be larger than 50 pips. If you do allow [...]
December 10th, 2008Chasing the Market (3 of 26)
This entry is part 3 of 26 in the series The Disciplined Forex TraderWait for the market to come to you 100% of the time to prove that you are disciplined. If you chase the market then you are not disciplined. If a trader says he waits for trades but anticipate the signals and [...]
November 21st, 2008Trade Journal Entry 11-21-08
This week has been a productive trading week. I have been spot on in my trades. I am up in all of my accounts for the week by the follow percentages: (1) 3%, (3) 5%, (1) 13%, (1) 23%.
It is Friday morning and I have been at the computer for a little over 30 minutes [...]
More PMA!
“History will be kind to me for I intend to write it.” -Sir Winston Churchill This is what we all should be doing! Taking charge of our own futures and not let the world decide for us what it will be. Pick five things in your live that you can change today, this week or [...]
November 12th, 2008Part 1 of 2
This is a great article about your emotions and the psychology of trading. Sometimes not trading is the best trade of all. Read on. The GotForex Weekly Newsletter by Rob Booker Trading currency is risky. You can sustain the total loss of your trading capital. In the midst of one of the most volatile [...]
November 11th, 2008More of What We All Need To Hear
Unless a person has given their all, and what I mean is everything they have in them and about them, should they ever think if quitting. Winston Churchill made it clear when he said, “We shall not fail or falter; we shall not weaken or tire. Neither the sudden shock of battle nor the long-drawn [...]
November 5th, 2008Chasing the Illusive Moby Dick!
What I have seen that is a problem in this day and age and especially in the trading world is the addictive pattern many find themselves in called “chasing Moby Dick”. This is a plague that gets more people in trouble than any other trading challenge. The signs are as follows. The trader is [...]
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