Eventually there comes a time when you have gathered up all the information. You have read all the books. You have watched all the videos. You have read all the articles. But in order to take the next leap in your development as a trader you need to actually apply what you have learned. …
Here are the various elements and part of your trading strategy you can tweak in order to make more money trading the financial markets: 1. Increase Leverage and Risk Per Trade If you have a system that has extremely high win rates and has a respectable reward risk ratio, then trading such a system …
Some people are scared to trade live. You can never make the big money, and not even begin to comprehend how to make the big money or even the small money unless you get out there and trade live, even with a small size and small percent risk per trade. Jim Rogers used to …
There are various tracks of progress that you need to be succeed at and be progressing at a solid pace. To be a successful, profitable order flow trader and reach the highest point on the trading profit ladder you should be able to master every single track of progress. Knowledge Accumulation The first step is …
The real estate people like to talk about “location, location, location.” As traders you should almost always be constantly thinking about “liquidity, liquidity, liquidity.” Most traders, especially retail traders don’t think about liquidity. They believe they don’t have a need for it. After all, if they are placing small orders of 100,000 or 300,000 currency …
There are times when a chart pattern or price pattern “catches” a big trading move. Meaning that there was a chart pattern or price pattern that formed, and for the people watching those patterns and took the trade, then they take the signal and profit from it. The chart pattern or price pattern didn’t “cause” …
You hear all sorts of great traders say that risk control and money management are the pillars of trading success. After you have a trading system that has an edge this is of course very true. You hear them talking in cliches about how you should cut your losses and let profits run. They talk …
One of the problems I used to have is that I dwelled on a missed trading move. I would see the currency pair move hundred of pips and I would miss out on it. Then I would bang my head against the wall. I would kick myself for missing out on the move. Sometimes that …
Here is a question you can ponder, especially for those skeptical of news trading, global macro, or some sort of fundamental analysis. Why is there this whole infrastructure surrounding disseminating and publishing information about the financial markets, economies, securities, etc? You have Bloomberg, Reuters, CNBC, Wall Street Journal, and countless other news sources out there. Then you …
Michael Steinhardt, the now retired billionaire hedge fund manager said about the one quality he valued in people: Very wise words indeed, as there are many traders are paralyzed from taking a position. They are afraid to enter the game. They are afraid to have a particular view or bias on a financial instrument. …