August 28th, 2009

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 [...]

July 29th, 2009

2. Define your ideal trade. 2 of 12

This entry is part 2 of 8 in the series Create Trading PlanNew traders try to learn how to do everything and never become good at anything.  You must narrow your trading
focus to grow.  Look at your current personal schedule.  What time do you have available to trade?  Why are you
trading in the first place?  [...]

July 24th, 2009

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 [...]

July 22nd, 2009

Objectivity

Objectivity or "emotional detachment" also depends on the reliability of your system or methodology. If you have a
system that provides entry and exit levels that you know have a high reliability factor, then you don’t need to
become emotional or allow yourself to be influenced by the opinion of others and outside sources who [...]

July 20th, 2009

Realistic Expectations

We have all heard of the get rich quick advertisements or the stories about people that made millions in a short
period of time trading the foreign currency market.  Taking this information seriously will cause you heart burn
when it does not happen to you. 
Everyone has to learn how to trade and it does not happen overnight.  [...]

July 17th, 2009

Patience

Once you know what to expect from your system, you must have the patience to wait for the price to reach the
levels that your system indicates for either the point of entry or exit. While you are waiting for the indicators
to give you the entry sign you can look at other currencies and [...]

May 22nd, 2009

Buy Into Motion = Chasing A Trade

When a trader sees the market take off, then decides to place a trade, just because the market
moved a little bit in one direction or another he/she is chasing a trade thus buying into motion.
Never buy into motion. The reason is you see the motion, get excited, enter a position, and then
try to decide what [...]

November 14th, 2008

Part 2 of 2

This is the second part of a great article we introduced yesterday 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 Are you currently experiencing unusually large gains? Here are some thoughts. There is nothing quite [...]

November 13th, 2008

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, 2008

Part 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 [...]

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