Become Good at Losing (16 of 26)
We get a lot of questions and comments about what this means. You should know by now that you will lose sometimes when trading. That does not mean you will lose all of your account unless you use poor money management techniques or none at all. It means don’t get all emotional about a loss [...]
December 16th, 2008Keep things in perspective (6 of 26)
Keep 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 a loss to exceed your biggest gain then, effectively, what you have when you [...]
December 5th, 2008Only take little losses (18 of 26)
A big win can take care of many small losses and a big loss can wipe out many small wins. It all boils down to money management, following some trading rules, and being disciplined. Enter a trade put on a stop loss take a small loss. -$8 Enter a trade put on a stop loss [...]
November 24th, 20082 of 10: Trading The Big Dollar Moves
Awareness #1- Trading The Big Dollar Moves When trading, how does a trader know which move is going to be the big move. They don’t. Trying to catch the big trades alone to get rich quick is a destructive habit. A trader should take all good signal trades. By doing this, they will make a [...]
November 18th, 2008Understanding Margin, Leverage, and Margin Calls
In the following illustrations you will see the equity level change and the Margin Level % change. There are several views of the change in a positive direction and one view with a negative direction. The Margin Level % is calculated by dividing the equity by the margin. In the illustration below we take the [...]
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