SEVEN: Call It What It Is

by Kirk Norwood | Jul 28, 2008 | Inside The Trader's Mind, Money Management, Planning A Trading Career, The Disciplined Forex Trader, Trading Strategies, Trading Tips

If you take trading seriously you will think of trading as a business. Not just a hobby, or a way to get a quick rush, or a way to escape life’s problems, or a way of spending some of your extra time. You can think of trading, as a lot of things but to make the big...

SIX: You Are In Charge

by Kirk Norwood | Jul 25, 2008 | Inside The Trader's Mind, Money Management, Planning A Trading Career, Topics To Study, Trading Strategies, Trading Tips

You are responsible for your success or failure as a trader.  You’re in charge of your trading, not the platform, not your broker, not your trading group Just you.  If something goes wrong you are the one that has to figure what to do to get out of any given...

Five: If You Can Picture It You Can Create It

by Kirk Norwood | Jul 24, 2008 | Inside The Trader's Mind, Money Management, Topics To Study, Trading Strategies

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...

Four: Think Of Trading As Points And Percentages

by Kirk Norwood | Jul 23, 2008 | Emotions, Inside The Trader's Mind, Money Management, Planning A Trading Career, Trading Strategies, Trading Tips

We talked about the amount of risk a trader has in the market now it is time to talk about how you feel about money. If you have a big attachment to money then it will cause a big emotional strain when you lose some of the money. One of the hardest things a new trader...

TWO: A Trading Plan, Having and Using

by Kirk Norwood | Jul 21, 2008 | Inside The Trader's Mind, Planning A Trading Career, Topics To Study, Trading Strategies, Trading Tips

Trading any of the financial markets is a one on one activity.  If someone is going to do it for you it is you.  You will need to follow a trading plan and guess who is going to have to write that trading plan.  You can get examples of how to construct a trading...

Prepare For Success

by Kirk Norwood | Jul 16, 2008 | Planning A Trading Career, Trading Strategies, Trading Tips

While on vacation over the 4th of July 2008 we visited Mt. Rushmore, South Dakota in the black hills. You know the place with the sculptures of the presidents of the USA. As we learned about what it took to make this monument I was amazed. It took years of work for...