The Top News Announcements You Should Be Aware Of
At the time of these announcements there is a high probability that the market will make a significant move. We do not trade the news, but we do trade after the news has been announced and when an entry signal appears.
Consumer Price Index for the USA
USA Non-Farm Payrolls
USA New Home sales
USA Existing Home Sales
International Trade [...]
Personality And Trading Style
Much of a trader’s success has to do with his personality matching up with the trading style he chose. No matter what the approach is you must plan your trades and trade your plans. If not, your strategy is no better than random, and that is hardly a stable platform for long-term success.
If a trader [...]
How Much Of My Account Should I Risk?
When a trader first starts to trade there are many things to learn like:
1. How to use the platform
2. Which trading style I should use
3. Which indicators should I use
4. What time frames best meet my life schedule
5. How much money should I trade with
6. How much should I place on each trade
7. How much [...]
Types of Exits
When exiting a trade, you can do so under four different assumptions. In the best of worlds, exit technique number one is the profit target. Exit technique number two is the trailing stop, which comes into play when the market is starting to move against you after you have accumulated an open profit. Number three [...]
August 13th, 2008What Is A Good Exit Worth?
One bad thing trader’s fall into the habit of doing is to try and get every last tick out of a trade. We have all experienced a trade that started off great then turned out to be a looser. Then there is the trade that starts out with a small loss and turns out to [...]
August 12th, 2008How To Have Two Trading Platforms Open At The Same Time
Having two or more versions of the trading platform can be helpful by putting different accounts or charts on each platform then watching both at the same time on different monitors (if you have two monitors). This way it is easier to track more stuff and have larger screen shots of what you are looking [...]
August 1st, 2008Are You A Trade Rusher?
There are traders that lose money month after month, and the reason is that they always rush into trades without studying them carefully and seeing which way the trend is going or waiting for any sort of retracement before entering the trade. They see a breakout on a currency pair and put in orders to [...]
July 29th, 2008EIGHT: Trade Less Make More
Everyone needs to find the time of day that is best for them be it emotionally, time restraints, or alertness (when you are not tired of fatigued). Once you find that magic time for you then build your trading around your schedule not what works for others.
Once you have the time to trade, decide [...]
July 24th, 2008Five: If You Can Picture It You Can Create It
By seeing a trade develop you can see in your mind a win or a loss. Also in the markets can be seen what self-destructive behavior may impair your trading. When the price is moving in front of you, you start to anticipate what the market will do.
When traders enter the market they need [...]
July 1st, 2008The Smart Way to Lose a Forex Trade
We have seen over the years traders will trade without a stop loss for fear of a small loss. When the market turns against them they let it run in the wrong direction rather than getting into the trade and trade with the move. Their total focus is set on wishing the market would turn [...]
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