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SIMPLE TRADING PLAN

SIMPLE Components To Your TRADING PLAN

A trading plan is a tool that you can use to clearly define your trading objectives and help you achieve them. Developing a Trading Plan and sticking to it are the two main ingredients of trading discipline. A trading plan defines what is supposed to be done, why, when, and how. It covers your trader personality, personal expectations, risk…

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TRADER PETER BRANDT Book Reviews

Peter Brandt has probably been the one person who has had the single biggest impact on my trading career more than any other person. I bought Peter’s book Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading a few years ago. I read through it and thought to myself, this is “old school,”…

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FOCUS On ONE GOOD TRADE At A Time

FOCUS On ONE GOOD TRADE At A Time

Focus on one good trade at a time. This is something I learned from Mike Bellafiore in his book One Good Trade. It’s critical for us as retail traders to be focused on constant improvement and flawless execution of your trading system. Looking for ONLY your best trade setups and taking one good trade at…

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SIMPLE TRADING Can Be HARD And COMPLEX

SIMPLE TRADING Can Be HARD And COMPLEX

SIMPLE TRADING Can Be HARD And COMPLEX. It’s a very common problem with traders making strategies far more complex than they need to be. Complex strategies generally start from a simple trading strategy which works well for the trader, but then that strategy is tweaked and re-tweaked in an attempt to make it even more profitable.…

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master forex trading with micro lots

Use Micro Lots To MASTER The FOREX Trading Process

Micro lots usually is the smallest position size that you can trade with. As new traders often do not have much in the way of starting capital, trading micro lots is a good way to keep the overall exposure of their trading account small. In forex, micro lots equals 1/100th of a lot or 1,000 units…

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Understanding MAXIMUM MARKET ADVERSITY

Understanding MAXIMUM MARKET ADVERSITY

Maximum market adversity is a term I first learned from Brent Penfold. It refers to the discipline the market imposes on all participants. It goes like this: the market will do whatever it has to to disappoint the most traders. Maximum market adversity will ensure that your life as a trader will be pure hell at times! Yes,…

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END OF DAY trading daily setups

WHY I Am Focused On TRADING DAILY SETUPS

Daily setups means to be trading end of day data. For me that means trading the New York 5pm closing price as my price data. My trading day starts at 5pm NY EST and ends at 5pm NY EST in teerms of my price charts for daily setups. Trading end-of-day removes a lot of knee…

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trading setups playbook

Build A PLAYBOOK Of Your BEST Forex Trading SETUPS

Trading setups are what we as traders are constantly searching for. Building a playbook of your best trades can help traders stay focused on the highest possibility trades. Often boredom, impatience, overconfidence and other trading emotions can be the death of a trader. If you have read Mike Bellafiore’s The PlayBook: An Inside Look at How to…

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How To DEAL WITH Trading EMOTIONS

Trading emotions are one of the hardest things a new trader has to learn to master. When I first got exposed to trading, I was obsessed with finding the “Holy Grail” of entry and exit trading systems. I would trade certain setups, get a few winners, then go into a choppy market and lose money.…

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IMPROVE Your Trading

5 Ways To IMPROVE Your TRADING

Today we are going to go over 5 ways to improve your trading. For many traders the battle is to become a consistent trader. A lot of traders tend to focus on their P/L and this can often be a big interference to becoming consistent because the real focus should be on improving their performance and…

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