Written by admin on August 28th, 2009
Dealing With Market Uncertainty
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, [...]
Continue Reading...Written by admin on June 29th, 2009
Education in Forex
Finding the best resources in order to learn forex trading is not as simple and straightforward as many of us would think, but it is still possible to get a good education if you know how to filter the information you’re bombarded with every day. Even if the teacher may not be perfect himself (and [...]
Continue Reading...Written by admin on April 7th, 2009
Transitioning From Part-Time to Full-Time Daytrading: Ensuring Sufficient Income
One of the toughest times of my life – that threatened my own psychological wellbeing as well as the potential safety and security of my family – was in early 2004, when I first made the leap from part-time to full-time trading.
I had the required knowledge. I had the required skills. I was a great [...]
Written by admin on April 1st, 2009
Using Technical Indicators: Bollinger Bands & MACD
A good understanding of the basic tenets of technical analysis can vastly improve one’s trading skills.
When using technical analysis, price is the primary tool. Simply put, “everything is already in the rate.” However, technical analysis involves a bit more than simply staring at price charts hoping to find a “yellow brick road” to a bonanza [...]
Written by admin on March 24th, 2009
An Unspoken Rational Approach
If you put on a trade and your heart starts pounding, you are *not* ready to trade yet…Some people who aren’t ready to trade have other problems as well:
1. Pulling the trigger to get in
2. Staying with one trading strategy long enough to judge it
3. Letting good trades go bad
Day trading psychology plays a [...]
Written by admin on March 13th, 2009
Why Traders Knowingly Make Bad Decisions
“To Err is Human”, but in trading it often happens that traders will knowingly make decisions that create losing trades. Now we’re not talking about losses that come about because of testing out a trading plan or a specific indicator. Nor are we looking at simple errors committed purely by accident. If our goal is [...]
Continue Reading...Written by admin on March 10th, 2009
What Are the Differences Between Trading and Gambling?
Many people think that trading is similar to gambling. Is this really the case? For example, let’s take a look at Black Jack. If you start with $10,000 gambling capital, placing bets of $100 per hand and play 100 hands per day, how long will you last?
In the game of Black Jack, with Las Vegas [...]
Written by admin on March 4th, 2009
Richard Rhodes’ Trading Rules
I must admit, I am not smart enough to have devised these ridiculously simple trading rules. A great trader gave them to me some 15 years ago. However, I will tell you, they work. If you follow these rules, breaking them as infrequently as possible, you will make money year in and year out, some [...]
Continue Reading...Written by admin on February 25th, 2009
The Flaw In Our Emotions
As humans we have a natural tendency to try and influence our surroundings and events we take part in. This is one reason as a species we have succeeded but it is also one of the fundamental flaws we all have when trying to achieve success as a trader. As traders we have to realize [...]
Continue Reading...Written by admin on February 23rd, 2009
Pivot Point Trading
You are going to love this lesson. Using pivot points as a trading strategy has been around for a long time and was originally used by floor traders. This was a nice simple way for floor traders to have some idea of where the market was heading during the course of the day with only [...]
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