The Secrets of the Super-Traders
The first and perhaps most important "secret" is to realize
that your methodology or approach (no matter how good) is only
part of being a highly successful trader. This applies to any
trading style including, day trading, swing trading or position
The simple fact is that a bad trader can screw up a fantastic
trading system. Conversely a talented trader can take a mediocre
strategy and make money with it.
Why? Please read on and I will explain.
Many traders/investors that I have talked with think that to
be a "Super-Trader" that they must possess some type of highly
advanced trading techniques or software along with nerves of
steel and a highly developed intuitive feel for the markets. In
addition they think that these elite group, have some "inside
information" that they don't.
You will be relieved to know that the above is not necessary.
There are actually only a few things that separate traders who
consistently make money and those who don't.
And here they are?
* Skilled traders find a strategy or market pattern that
offers a high probability for success. They make money by
exploiting this edge over and over again.
* Skilled traders never deviate from their methodology or
* Skilled traders never enter a trade without a entry and exit
strategy. They know exactly when and where to cut their losses as
well as taking profits.
* Skilled traders never ever let a winning trade turn into a
losing one. The easiest way to ensure that this doesn't happen is
to place a protective stop at or a few ticks in the money once
your position is up several points.
* Skilled traders never hope, pray or wish that their stock
would go up. They understand that when they are wrong they are
wrong and the best thing to do is cut their losses short.
* Skilled traders never trade with their emotions. They don't
allow themselves to get caught up in the latest and greatest
* Skilled traders always have one goal in mind: To preserve
their capital at all costs. They do this by never taking on too
large of a position. A good rule of thumb to adhere to is never
use more than 5% of your funds on any one trade. This way in the
worst-case scenario the stock could drop to zero and your account
would not be severely affected.
* Skilled traders never get too greedy. There is an old saying
that "Pigs gets fed and hogs get slaughtered". These traders
don't try to make one big trade that will turn them into instant
millionaires. They don't try to hit home runs, instead they
understand that it is better to keep hitting singles and making
smaller consistent profits.
* Skilled traders enter and exit trades swiftly and
* Skilled traders listen to no one else's opinion concerning
the market or particular trade they are in.
* Skilled traders are often contrarians. They will be buying
when others are too scared to and sell when the crowd starts
That's it, the secrets to making big money in the markets.
Perhaps that is a bit of a let down as you were hoping for
something a bit more esoteric and complicated.
Let me assure you that if you follow the above principles that
you will take your trading skills and profits to a level that you
never thought possible!
This article is courtesy of Dr. Jeffrey Wilde, a trading
veteran with 15 years of experience in all major markets. He is a
trading coach to over 1400 traders in 38 countries.
For additional info: http://www.win-at-trading.com
forex currency trading news
Fri. April / 26 / 2019
Forex Currency Trading tips Information
How To Handle A String Of
Everybody hates to lose and unfortunately no one is blessed
with the ability of foresight, therefore losses are an
unavoidable part of trading. When we enter a trade we will
either be right, or wrong, and even if we broke-even we'd
still be classed as being wrong - as nobody enters into a
trade just to break-even! When unsuccessful traders
encounter a string of losses they begin to engage in
self-destructive patterns that help them escape the pain
they are experiencing.
What are Forex signals? Forex signals are paid services
offered by some brokers and independent Forex annalists.
Companies that offer forex signals monitor and analyze the
market for you, providing you with their data via desktop
alerts, email or even SMS and pager alerts.
Forex Made Easy for
Forex made easy is as simple as you would want it to be.
The foreign exchange market is a worldwide market and
according to some estimates is almost as big as thirty
times the turnover of the US Equity markets.
An Evaluation of the
A Minister of Finance is morally right to lie about a
forthcoming devaluation and a woman has the right to lie
about her age. This is the common wisdom.
The foreign exchange currency market is the largest market
in the world because it trades up to $1.9 trillion daily.
New Opportunities with
The simplest definition of currency trading is the practice
of exchanging one country's currency for another country's
currency. Basically, currency trading involves four main
variables: currencies, exchange rate, time, and interest
Be a Smarter FOREX
Currency Trader: Three Basic Principles
Below I will describe three basic principles that may come
in handy for currency traders. They are very easy to
implement and potentially take advantage of as you will
What is Forex
Forex, or Foreign Exchange, is the simultaneous exchange of
one country's currency for that of another. The way it works
is an investor who wishes to purchase or sell one currency
for another with the hope of making a profit when the value
of the currencies change in favor of the investor.
The Seven Most Traded
Currencies in FOREX.
Currencies are traded in dollar amounts called "lots". One
lot is equal to $1,000, which controls $100,000 in
Why Forex Traders Plan To
Fail Before They Even Place Their First Trade & How You
Can Know It & ...
Have you heard the wise saying that a trader who fails to
plan, plans to fail? I have, and I was once that trader!
However, did you know that even though traders who have
constructed a plan, which incorporates their trading
strategy (their "edge"), they have a plan that is likely to
fail? If we look at all traders who participate in the
market: we have one group that fails to plan and therefore
plans to fail; another group whose plan is failed; and a
third group who properly plans and therefore does not
fail. Is it any wonder that the success rate for forex
traders is so slim? Well it doesn't have to be.
Trading Tips No 1: Learn
How to Trade The Moment of Truth
So you have learned how to trade the markets by mastering a
few trading tools like Moving Averages, Channels,
Stochastics, MACD, or RSI - that is a great accomplishment
achieved by only a few. However, having the tools and rules
to trade markets successfully, year in and year out, is
only half of the challenge.
Forex Options Market
The forex options market started as an over-the-counter
(OTC) financial vehicle for large banks, financial
institutions and large international corporations to hedge
against foreign currency exposure. Like the forex spot
market, the forex options market is considered an
Two Timeless Rules in
RULE #1) ~ Cut your losers; let your winners ride. One
important thing that every new trader must know before
entering this highly profitable business is that life is
not perfect, even in FOREX land, and you should always know
one fact: YOU WILL HAVE LOSING TRADES.
A Look at Online Forex
An online forex broker is a firm that facilitates retail
trading using Internet technologies. Global Forex Trading
(GFT), one of the popular online forex brokers.
Forex Broker Involvement
To trade on the forex market, the largest financial market
on the planet, one must use a forex broker. Not unlike a
stock broker, a forex broker can also makes suggestions
about which moves to make when exchanging foreign currency.
6 Critical Factors For
Success in any profession can be broken down into a number
of critical factors. Trading is no different.
Trading Profitably on
the Foreign Exchange Market
You may be asking yourself "how does one begin to trade
profitably as a currency trader?" First, it is important to
closely monitor foreign equity markets to attempt to
predict or model how their respective currencies will
perform against other currencies, ideally, currencies that
are not very closely related, nor proportional, to the
Chinas New Currency
The base unit for the renminbi is the yuan, which is how
the Chinese currency is most commonly referred to. The
official ISO abbreviation for the yuan is CNY, but it is
also commonly abbreviated in the forex industry as RMB.
Crisis of Confidence in
The European Union (EU) constitution was dealt a double
blow, first by a French "no" vote on 29-May and then by a
follow on "no" from the Netherlands on 01-Jun. To add
insult to injury, one low level Italian diplomat quickly
called for a referendum in Italy to decide if a return to
the lira was warranted.
Choosing A Forex
With currency trading becoming ever more popular, the
number of brokers is growing at a rapid rate. What should
one look at when deciding which broker to open an account
with? These are the important points to consider.
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