Right now as I sit and write this article, it’s coming up to the end of 2008 and I’ll be shortly taking a well-deserved break from the markets and my website. Of course, as an admission that I’m addicted to trading, this won’t be a total break. I have some trading books to read and…
As we come to the end of year you’re all hopefully spending some time to review the prior year and plan the upcoming year. Maybe you’ll even make some New Years trading resolutions! The following five steps will assist in making better plans and resolutions; hopefully allowing you to stick to them beyond the 2nd…
Last week we discussed my thoughts on trading a small account with one contract. See here if you missed the article – https://yourtradingcoach.org/trading-business/trading-a-small-account-with-one-contract-part-one/ We finished up by stating the following: It doesn’t matter which management style you choose; a higher probability smaller win target (like my “part oneâ€) or a lower probability larger win target…
In a previous article we discussed the various levels you need to pass through on the way to achieving your long-term trading goals: See here if you wish to explore this path in greater detail – https://yourtradingcoach.org/trading-business/its-time-to-fight-to-get-to-the-next-level/ And we also discussed the process required to drive your development through each of these levels: This has…
I receive a LOT of requests to review people’s trades. Rarely winning trades. Almost always a trade which either lost or was scratched at or near breakeven. “Was this a good trade?” “Was I right to take this trade?” “Should I have (entered earlier / entered later)?” Or any other variation of these type of…
(click here to see a video version of this article) I want to talk about a common theme that’s in many of the email questions I get through my website. Many people have bought a trading system, or a couple of books, or attended a seminar, and just not achieved the success they thought they’d…
Too many people are just spinning wheels and getting nowhere. Here’s what I think. Many of you have sufficient knowledge and skill to achieve success. But your focus is on trading rather than on making money. And the end result of this is too many low probability trades in really bad environments. Let’s fix this…
I had an interesting email exchange with a trader a couple of weeks ago, who is struggling with occasional massive losses. I’ve had the opportunity to speak to a LOT of traders over the last 8 years of writing these articles. You’d be surprised at how common this problem is. We discussed several options…
The nature of the markets is uncertainty. Human beings do not like uncertainty. In fact we fear it at the very depths of our soul. Much of our society has evolved in an effort to reduce the uncertainty we face in day to day life, through controlling the environment, and implementing a structure of laws,…
Despite all the hype from the internet marketers who try to sell you the latest trading ‘secrets’, the fact is there are NO secrets. Identify setups which provide the potential for lower risk and/or higher probability trades. Enter and manage those trades in a consistent and disciplined manner. Minimize risk. Manage your money. Manage your emotions. Journal…
