Recently, a couple people I know packed up and quit trading after struggling for a long time to hold their heads above water. They didn’t make it. This isn’t unusual of course – this profession has a high failure rate – but it frustrated me. It frustrated me because I could see potential in them.… Read More »
In trading most new traders allow hope and fear to dictate their trading. They have a losing trade and instead of selling it and getting out they instead hope it will come back to even allowing the loss to grow. Another error for new traders is that when they have a winning trade they fear… Read More »
This is the message one of my students wrote to me “I don’t get it. I know there is good money to be made in trading (I see people doing it) and I’ve known success before. It’s not like I don’t know what a winning mindset is. I’ve proven myself before. Yet trading success still… Read More »
A solid trading plan is the cornerstone of your trading business. Unfortunately many traders think that all they need is a trading strategy. This is NOT the case! Let me explain the difference between a trading strategy and a trading plan. A trading strategy tells you when to enter and when to exit trades. A… Read More »
The fear of being wrong: Traders fear being wrong so much they will hold a small loss until it becomes a huge loss. Even adding to the loss in the hopes of it coming back and getting to even. Don’t do this, holding on to a loser after it hits your predetermined stop loss is… Read More »
We have RBI Policy tomorrow, markets are going to be volatile. Most of traders will be lured by the idea if one trade goes right i can make big money but one wrong trade can wipe off also. In trading activity alone does not make money, the right activity at the right time is what… Read More »
What is the difference between Sachin Tendulkar and Virendra Shewag, Both have class of their own, infact Shewag palying style is far better than Sachin instead of this Sachin is remembered as All time Greatest whereas Shewag has been forgotten by most of the Cricketing fraternity. The Big Difference is Consistency. This leads me to… Read More »
Trading is a war and there may be few battles which may get lost, Losing a battle does not means you have lost the war. Trading is not about one day, one week, or even one year. Trading is about taking money out of the markets over and over again, consistently. When I have bad… Read More »
A common problem that many futures traders run into is that they start trading, make some decent profits, then all of the sudden they encounter what seems to be an endless stream of losses. Eventually they end up losing their profits and eating away at their trading capital as they struggle to try and figure… Read More »
If you’re reading this blog post because you actually think there is some one thing that successful traders know that unsuccessful ones don’t, then let me first say: There is no single secret to successful trading! And by that I mean there is no secret wisdom passed down from master to pupil, or sacred texts… Read More »