Using Your Intuition Skilful traders know how to use their intuition to make quick, conclusive decisions. There are times when going with your “gut” instinct can be shrewdly accurate. There are also times, though, where your intuition can be dead wrong, and nothing more than wishful thinking. A seasoned, profitable trader knows the difference, and… 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 »
Have you ever lost yourself in a trade? You focus intensely on your screen and wait for the ideal time to enter. You’re fully attentive as you continue to watch your screen as the price creeps up to your profit objective. All your attention is channeled on your ongoing experience. Without even thinking, you exit… Read More »
Winning traders are courageous. They show courage when they risk their money, and face the possibility of losing it. They show courage when they follow their convictions, and possibly let their pride and ego get hurt. But courageous trading is a little more complicated than it appears at first glance. Courageous trading is not merely… Read More »
The fear of “pulling the trigger” stems mainly from the fear of loss. That same fear is responsible for 3 major actions or inactions that destroy traders: Cutting winners short. You take what you can and fear that if you don’t grab whatever small gains you have now, they would disappear. Keeping losers. You don’t… Read More »
Managing Risk as a trader is the most important consideration and if you answer NO to any of the following questions, then STOP TRADING until you can answer YES to all of them: Do you have a written trading plan that deals with risk management? Have you calculated the risk that you are comfortable with in every… 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 »
Many new traders deceive themselves. They celebrate small wins. They look for the magic solution to making money through a fail safe system. They believe a seminar or newsletter will change their life completely. The mistake trading for easy money and coaches and gurus for having that secret recipe for success. Well, there is none,… Read More »
As 2013 comes to an end, Many new traders will enter market, Seasoned traders would like to improve their trading performance and traders who would have lost would like to turn their account in positive. I wish each one of them, a very Profitable year ahead. My special thanks to my Readers, Wishing them and… Read More »
In continuation of Previous Article Trade in Private Never under any circumstances reveal your trading positions to anyone. Your mind must be in complete harmony with your trading positions. When you reveal your positions to someone, they will immediately start to question the trade and start to erode your confidence and concentration in the trade. You will… Read More »