April 13th, 2009

Failure To Cut Losses Or Take Profits

When a trader can’t pull the trigger to get into or out of a trade it is because they don’t fully understand what it take to be a successful trader.  A trader is gong to lose but he needs to win more than he loses and have the wins larger then the losses.   The object [...]

April 1st, 2009

Currency Trading Insurance

Here are some examples of Currency Trading Insurances: 1. Use a stop Loss 2. Only trading a small set % or your account 1%, 2%, 3%, 5% on any one trade 3. Only trading a total amount of your account at any one time. 5%, 10% … your choice 4. Keeping the Margin level % above 1000%     (you [...]

February 6th, 2009

Drawdown’s Against Profits and Confidence

(2 of 2) ….Yesterday afternoon, I closed down the platform, walked away from the computer and went for a walk with my little girl while my wife was still at work.  I returned about 4 p.m., put daughter down for a nap, and then meditated upon the wins and losses and tried to determine what [...]

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 [...]

October 6th, 2008

Cool Trading Tools

IBFX-Trade Analyzer We came across this very helpful tool. It will only work if you have a live account with Interbankfx. We are not promoting IBFX but if you use this brokerage firm this is a cool tool. Just for your information and enjoyment. What is IBFX-Trade Analyzer? Many traders measure their results based solely [...]

keep looking »