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 »
As the finale of 2013 approaches, we are each presented with an opportunity to reflect back while looking towards the future. The dawning of a new year is the perfect time to set new goals and embark down uncharted paths. Now is the time to plan your Resolution. What are our top trading resolutions for… Read More »
Eric Barker has a new article (link here) on how to win every argument. The article had a point which made me think whether the same situation happens in trading. So it quoted an experiment by psychologist Drew Westen, which showed to supporters, footage of their favorite candidates completely contradicting himself. The experiment found that as… Read More »
Trading successfully is not an easy game. Many people may think it is a difficult venture due to the fact that it is a complicated process and the markets move much too fast. There may be a little bit of truth to that, but in reality the downfall of most traders lies in the fact… Read More »
One of the most frustrating things a trader can experience is being dead on right about a trade, taking it, BUT.. still losing money! How can this be? This can happen in five different ways, each of the first four contain a lesson for better planning the fifth way to lose money in this list… Read More »