People who get into trading have taken the plunge that very few people dare to do. Most people are stuck and/or happy with whatever perceived job security they may have. They are not willing to learn something new, let alone risk capital in the markets. Most people never get started. And of the ones that do, many …
I get this question a lot: Is it worth it spending time trading when you only have a small account? They may only have $1,000 and think that even if they make 5% or 10% that is not a lot of money. Thus they may never get started trading and never gain the trading experience …
Someone once said: What is a trading philosophy? A trading philosophy is how you view the market to make your trading decisions. It is how you investigate the market in order to discover the truths and principles behind the price movement. A trading philosophy is critical to trading success as it forms a mental model …
The best traders and best order flow traders can catch themselves in the act of making a wrong trading decision. They can know when they are about to make a wrong trading decision and stop themselves before they make it. They are highly self aware. They know of the various scenarios that can play …
Consciously or subconsciously every trader involved in the financial markets and trading gets what they want. Great Quote by the Market Wizard, Ed Seykota: The quote rings true for all sorts of different traders and market participants. The markets, trading, the internet, they are all capable of giving you what you want out of …
The dreaded blowing up of an account blow up. Some people have experienced this – even multiple times. Others have not experienced it yet, but will soon. Others will never experience the trading blow up. First of all we need to define what is a blown trading account. Obviously if you lose 100% of the …
Not everyone can be a rich and wealthy trader. Certainly anyone can try to. There are a few that have to be rich, due to their work ethic, dedication, focus, and big trading edge and mindset that they developed. Some other people because of inner demons and psychological issues will be capped on how …
Having recently been to a Barnes and Noble, and visiting the investment/trading section, I can see how beginning traders can be overwhelmed. So many trading and investment books covering a wide arrange of topics. There were chart pattern, price pattern books, fibonnacci time and price clusters, technical indicators, fundamental stock investing, derivatives books. There were …
Back when I was learning order flow trading I would be skeptical about how much trading and market knowledge my brain could hold. I was reading all sorts of market articles, analysis, statistics, news, forum posts, interest rate announcements, speeches etc. It got a bit overwhelming at various points. I probably thought my brain …
There have been several discussions over the years about the similarities between forex traders and poker players. Whether there are on the trading forums, in articles, or even hedge fund managers play or have played poker in the past. Steve Cohen even said in an interview that poker taught him “how to take risks.” I …