This is a Guest Post by @LoneStockTrader which was posted originally here: “Stop Focusing On The Money” and is reposted here with permission. I think I can affirm quite confidently that we all started trading for the money. We all had this idea that unlike most regular jobs, trading is a way for us to reach the […]
Traders Focus on this, Not the Money Read More »
This is a Guest Post by @LoneStockTrader which was posted originally here: “How To Be Patient In Trading” and is reposted here with permission. I used to think I was a patient man. That is until I started trading. Patience is a virtue that is vital to success in trading. A large amount of patience is required
Patient Trader, Rich Trader Read More »
I do not think traders start making money until they mature and understand the big picture. I have been on this journey myself and went through the wild excitement of the internet bubble, day trading and the experience of making a few hundred dollars in a few minutes the first time and the delusion of
How To Be A Grown Up Trader Read More »
This is a Guest Post by: Colibri Trader @priceinaction. This article is used here with permission and originally appeared here on ColibriTrader.com. A lot has been written on “trading mistakes” and the temptation to overtrade. I have not seen a practical advice on how to battle the temptation to overtrade. Most of the sources I have
How to Battle the Temptation to Overtrade Read More »
This is a Guest Post by Alex @MacroOps which was posted originally here: Exploit Errors To Find Your Edge and is reposted here with permission. Market speculation is a zero-sum game. In order for someone to win, someone else needs to lose. You can think of the market as a collection of players… some weak, some
Exploit Errors To Find Your Edge Read More »
This is a Guest Post by: Colibri Trader @priceinaction. This article is used here with permission and originally appeared here on ColibriTrader.com. I am currently in a losing trade. I have bought NZDUSD at 0.6972. The price is 0.6955 an hour later. I am patiently waiting for the price to curve up and come back in
The Zen of Trading Read More »
Trading is not all fun and games. Traders do not make money on every trade, most don’t even make money on half their trades. It is not like other careers, jobs, or hobbies where you work and then get paid automatically for your time regardless of performance. A trader’s pursuit is more like the life
The Top 10 Pains of Trading Read More »
Anger – Leads to revenge trading and trying to get even after a losing trade. Fear – The inability to take an entry or hold a winner in a trend due to the fear of a loss after entry or a winning trade giving back profits. Disgust – Can lead to a loss of confidence
The Dangers of Emotional Trading Read More »
In trading more action and time spent watching screens is not necessarily rewarded with more profits. The majority of the time trading every day and watching every tick in price is not rewarded by making more money. Ed Seykota had some of the best annual returns for decades and traded strictly with end of day data. Nicolas Darvas
Trading: When Less is More Read More »
“The game taught me the game. And it didn’t spare the rod while teaching.” -Jesse Livermore Trading Losses: There are two types of losses, one loss is caused by the market simply not being conducive to the profitability of your system. The other loss is due to your lack of discipline, causing your system to
5 Things That Educate Traders Read More »