Money management is probably the most important and most overlooked part of building a successful career in trading. I often say that a successful trader is actually a risk manager, and although we all think it is about entering a trade, managing it is far more important. However, you must have confidence in your trading system… Read More »
Source Timmy and Tammy loved playing the piano. They both practiced hard and were getting better and better each week. One day, their teacher had some exciting news. There was a concert coming up and they both had the opportunity to play in public for the first time. Timmy and Tammy looked wide-eyed at each… Read More »
A great excerpt from “Trading Rules: Strategies for Success” by William Eng. It’s a great reminder that market prediction is a fool’s errand: When you buy something, you want it to go up. When you sell something, you want it to go down. The chance of entering the trade correctly is small, but the chance… Read More »
One day Solomon decided to humble Benaiah ben Yehoyada, his most trusted minister. He said to him, “Benaiah, there is a certain ring that I want you to bring to me. I wish to wear it for Sukkot & i give you six months to find it.” “If it exists anywhere on earth, your majesty,”replied… Read More »
How can a professional take the same trade as an amateur yet end the trade at a profit or be in a better position psychologically after taking a loss? Every trader experiences losing trades. Professionals and amateurs may have similar outlooks on a market, but oftentimes they end up with different results.So lets discuss the… Read More »
An elementary school science teacher had done with her dinner and started evaluating assignment notes done by a colleague’s class students. Her husband is strolling around with a smart phone playing his favorite ‘Candy Crush Saga’ game. Meanwhile silent tears started rolling on her cheeks after reading the last sentence of one of the student’s… Read More »
Most of us want to be as perfect as we can. We do not want to experience failure or setbacks or roadblocks. In fact, most of us have been raised that failure, in any case and at any time, is ‘bad’ and success is ‘good’. So if that is the case, then thinking in a very simplistic and… Read More »
What a difference an idea makes! In his book, Brainstorming: How to Create Successful Ideas, Professor Charles Clark writes: “You will see the difference an idea makes in the men and women who move ahead. You will see it in the products which make sales records. You will see it in the business which prospers.… Read More »
Every traders wants to trade Big with a well funded trading capital of at least 20 lakh but very few are able to achieve this feat. Its often said Making the First Million is the most difficult thing once achieved money will flow in your coffers. Trading small account is very difficult when compared to… Read More »
When the great library of Alexandria burned, the story goes, one book was saved. But it was not a valuable book; and so a poor man, who could read a little, bought it for a few coppers. The book wasn’t very interesting, but between its pages there was something very interesting indeed. It was a… Read More »