One trade is meaningless outside a trading system. A trading system can not be implemented without a trading plan. Entries are just the beginning; the exit is what determines if a trade is profitable or not. Here is the structure all traders need for long term success: We have to create a trading system that […]
10 Steps to Successful Trading Read More »
Most traders that make money from the markets get hooked early on winning trades. Many that chose trading as their career, made life changing profits early and got the trading bug. The inspiration to trade comes from the game itself and the opportunity to be rewarded monetarily for making the right decisions. Once you have tasted success, it’s
Why New Traders Quit Read More »
“The markets are the same now as they were five to ten years ago because they keep changing – just like they did then.” – Ed Seykota New traders make the mistake of looking for the perfect trading system with the perfect entries and exits that work every time. Unfortunately, there is no such thing. If
Why There is No Holy Grail in Trading Read More »
“A trader who didn’t make mistakes would own the whole world in a month.” – Jesse Livermore If you see a trader on social media who never loses on a trade, then run from them. They are not being honest. Even the best traders generally have 60% – 70% win rates. Some of the best day traders
Losing Trades Suck Read More »
Traders may be waiting for the market to settle down and give them more clarity about the trend. For the moving average to hold, for volatility to decrease, for the economic numbers to be more positive, for oil prices to find a range, for your bad luck with entries to end…. The reality is, the market action will NEVER give you the perfect time. That right moment for entry never
Good Trades are Never Easy Read More »
Good trading is very basic; it’s trading with an edge to capture a trend in your own time frame, while managing your risk exposure carefully with the right position sizing and stop loss. There are endless ways to trade badly. You can change these if you make an effort and become self-aware. Be on the lookout
20 Terrible Ways to Trade Read More »
You will definitely lose money in the stock market. The only questions are when and how much? The best strategies lead to small losses when they occur. A better question might be, “After I lose money, then what?” Then you will have learned lessons that better prepare you to make money in the future. Well, if
But What If I Lose Money? Read More »
Guest post by Michelle Custodio Top 5 Considerations to Find the Best Trading System for You Start the new year off the right way by finding the best trading system for your own particular needs. Taking the time to pinpoint this sometimes-elusive arrangement can reduce the amount of time you spend bumbling through your trades.
Finding the Best Trading System for You Read More »
This book is in the Market Wizard format as the author interviews successful and profitable traders at many stages of their journey. Most traders in the book trade six figure accounts and some are millionaires. Many of them trade penny stocks, but are sensitive to the volume and understand the dangers involved in that market,
Book Review: Momo Traders Read More »
This is a GUEST POST by Steve LeMoine @Turtle_Follower One of the biggest steps I took in becoming a more robust trader was learning how to deal with uncertainty. I wrote a post about something I call the Uncertainty Principle which I urge you to check out…after reading this post of course. In a nutshell
Take the Guesswork out of Trading with this Technique Read More »