Some Things Successful Traders Posses
1. They have a trading method or system
2. They have a set of rules for when to get in and out of the market.
3. They have discipline to follow through with these rules
Trading is about making money, not about being correct in market analysis. If you are trading for
any other reason than making money your [...]
Lower Time Frames May Cause Over Trading
Traders can get caught up in thinking that shorter time frames can reduce risk. They think they can get out of bad trades sooner but they also get out of good trades sooner.
If a trader is looking at the smaller time frames like the 1- and 5- minute they will get more signals. They [...]
Is Trend Trading Right For You
Trading the trend can be profitable, that is if you can identify the trend in a timely manner and then manage the risk along the way. The good thing is that trading the trend can apply to any currency pair or time frame. Here is some more good information the trend can help you systematically [...]
January 23rd, 2009When The Lights Go On
For a couple of years my wife has wanted to learn how to trade. I showed her the platform and how to open demo accounts, and place trades in a demo account. I then suggested that she go to babypips.com and read about the market. I showed her the Launch Pad Trading system and she [...]
January 16th, 2009Setting And Accomplishing Realistic Goals
We have all probably heard of the trader who turned $10,000 into over $1,000,000 in one year. Well it has been done but do you really believe you can do it? You’ve also probably seen the ads and websites, which claim big returns with minimal work. Ask yourself, is this the norm or is it [...]
November 19th, 2008How To Win At Trading
The inspiration for this article came from the famous football coach Vince Lombardi.
Put your faith in the basics. You don’t have to have great entries and exits but you do have to have good money management. Good money management will win more often than not and preserve capital. Every trade boils down to doing the [...]
Staying On the Fresh Trail
I heard a very interesting story this weekend from a very good friend of mine while sitting around a late autumn campfire. He told of a time when he was younger and was on a mountain lion hunt in southern Utah. The group had chased two large cats down into a canyon. From his vantage [...]
October 23rd, 2008Trading With or Without Indicators
Everyone has a preference of how to trade and what works for them. I find it interesting when others say this is the best way or that is by far the only way to trade. I know traders that use only price action to trade with. We all know traders that only use indicators. My [...]
September 23rd, 2008BUSINESS INSURANCE… When Trading?
When you have a typical business you buy all kinds of insurance. Examples might be:
1. Workers compensation
2. Property Insurance
3. General Liability Coverage
4. Business owners policies
5. Vehicle insurance
6. Employment Practice Liability Insurance
7. Business Interruption Insurance
8. Key man Insurance
9. Errors and Omissions Insurance
10. Directors and Officers Liability
Making a claim:
Here are some tips for making sure you come [...]
Another Way To Stay In Control
I once heard a trader say that after he made some money in his account he would take out the original investment. Then he was only playing with money he didn’t originally have making the losses not hurt as much. It became easier to make money because he had taken the pressure off himself.
By doing [...]
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