We force the market to come into our zone or level before taking a trade. We wait. It is worth it.
Joe Ross posted a link on twitter with title ‘A simple Idea to improve your trading’. I thought it is a good reminder to all my readers here. And I certainly agree with the quote below, and being disciplined in trading methodology execution was and is the key of my consistency. I feel certain that […]
Here is an important note quoted from Van. Tharp’s Trade Your Way To Financial Freedom, 2nd Edition. Just to note it down here, and hopefully it helps some of the 12 readers. Given your goals in terms of returns and drawdowns, what kind of initial risk stop do you want? If it’s close, will you […]
It is time to read some rules again. While working on my Forex trading strategies, I visit forums regularly. There are indeed some brilliant people out there sharing their work and ideas (though there are garbage and nonsense as well). In Forex Factory, user lever70 caught my attention when he/she shared his/her own compilation/e-book freely. […]
Tony Saliba discussed the elements of good trading in Market Wizards: Interviews with Top Traders. Clear thinking, ability to stay focused, and extreme discipline. Discipline is number one: Take a theory and stick with it. But you also have to be open-minded enough to switch tracks if you feel that your theory has been proven […]
In The New Market Wizards: Conversations with America’s Top Traders, Monroe Trout mentioned the trading rules that he lives by. Make sure you have the edge. Know what your edge is. Have rigid risk control rules … Basically, when you get down to it, to make money, you need to have an edge and employ […]