|
| |
 | |
|
|
Currency Trading Information Channel |
 |
|
|
| |
|
| |
|
|
Currency Trading Information Channel |
|
|
|
|
|
Day Trading Success- The Key Is SurvivalMost new traders tend to focus just about all their time and energy on finding nearly perfect "setups", but trade setups, even very good ones, are *not* the key to successful trading. It's the *way* you trade your setups that keeps your losses smaller than your gains. And this is the single most essential key to trading success. To me, the process of limiting losses is more than just money management...it is survival. I can't give you a list of mechanical survival rules that will take the place of experience and make you a successful trader overnight, but if you stick to the following principles in your trading, you'll be on track. You'll be doing just about the opposite of the crowd, and you'll eventually learn to limit your losses. Limiting your losses is the only way I know to make money in this business. The following guidelines will sound radical, but they have guided me in making my living from trading for many years. 1. If a trade doesn't go your way within the first one
to five minutes, get out. I usually get out within one or two
minutes as soon as my perceived edge is gone. 2. If a trade goes against you in the first few
seconds, begin drawing in your hard stop and/ or your target,
trying to get out of the trade at break even. 3. Never let your hard stops get hit. When it happens,
you may want to take a break and get some fresh air. 4. Hard stops are adjusted to market conditions. At the
moment (July 6,2005) I am using 1.50 point hard stops on the SP
futures. 5. Never move your hard stop away from your entry
point, hoping that a bad trade will turn around. 6. If you find yourself *hoping* as you trade, it is a clear sign that you are not following good survival (money management) principles. It will be impossible to put these principles together without a set of high-probability setups. Without good setups, trading is just a flip of the coin. Mike Reed is author of TradeStalker's RBI Trader's Updates. He has been trading the Market for 23 years. When he got his start as a trader, Mike was plotting prices on paper tape as the internet had not yet been "born" as we know it today. Years of experience have really given him a feel for the Market action. His support and resistance numbers have been published on the internet since 1996. He has a wide readership that includes day traders, floor traders, locals and hedge fund managers. Mike's nightly support and resistance zones are specific and incredibly accurate. He offers an unlimited free trial of his nightly TradeStalker RBI Trader's Updates. http://www.TradeStalker.com
 MORE RESOURCES updated Sat. July / 02 / 2022The Best Forex Brokers and FX Trading Platforms in 2022 ABC Action News Tampa Bay What are the Benefits of Currency Trading for Corporate Leaders? Analytics Insight 4 Ways COVID Boosted Currency Trading Yonkers Tribune. 10 Best Forex Brokers Australia in 2022 - High Leverage ASIC Sites Business 2 Community 4 Reasons Environmentalists Care About Forex Trading Green Prophet Yuan-Ruble trades rise in China as easing curbs boost exports American Journal of Transportation Latest Trends Of Bitcoin Trading In North Korea – Harlem World Magazine Harlem World Magazine Rupee weakens to a new low; traders see currency breaching 79/$ soon Business Standard Find out how to calculate exchange rates with Clear Currency Eastern Daily Press CFTC Charges South African Pool Operator and CEO with $1.7 Billion Fraud Involving Bitcoin | CFTC Commodity Futures Trading Commission Stocks open slightly lower, continuing dismal start to year The Sun Chronicle Form 424B2 CITIGROUP INC StreetInsider.com Wealthsimple review 2022 MoneySense Bullish Japanese Yen - Peak Rates and Oil to Benefit Battered JPY: Top Trading Opportunities DailyFX Trading Support and Resistance DailyForex.com What is forex trading? Bankrate.com Basics of Forex Trading - Part 1 FX Empire What are the Pros and Cons of Forex Trading? RealtyBizNews Moscow Limits Foreign-Currency Trading to Shore Up Struggling Ruble The Wall Street Journal What is forex trading and how does it work? The European Sting Forex Trading for Beginners: The Essentials Business Insider Africa How to Know Which Currency Pair to Trade Startup.info Currency Definition | US News U.S News & World Report Money 10 Best Forex Brokers for July 2022 - Trading Business 2 Community BC: Tips for Success in Forex Trading Punch Newspapers Is forex trading a way to make a living? Nairametrics The Most Common Warning Signs of a Forex Scam Finance Monthly RBI hits hard on Bitcoin, DeFi, crypto trading platforms Investing.com India Trading Forex vs Futures: Key Differences IG International Currency trading in overdrive with dollar at highest level in two decades (NYSEARCA:UUP) Seeking Alpha CEO Of Cryptocurrency And Forex Trading Platform Charged With Fraudulent Scheme Involving Over $59 Million Department of Justice FX trading: A loser's game? ETF Stream What is Hedging and how can it be used in Forex Trading? Deccan Herald Best books to learn Forex Trading from scratch Free Press Journal Forex Trading Hours: Limitless Trading in an Endless Market The Coin Republic How to Trade Forex TD Ameritrade Even the Foreign-Exchange Market Is Getting Kind of Crazy The Wall Street Journal Forex Trading TD Ameritrade What Every Australian Forex Trader Needs to Know Analytics Insight Ukraine Central Bank Halts Currency Market, Limits Cash Withdrawals The Wall Street Journal How To Compare The Relative Strength Of Currencies Finance Monthly Why forex trading is not gambling Nairametrics Russian Authorities Crack Down on Illegal Currency Trading The Moscow Times AUD/USD Forecast: Australian Dollar Bounces Hard DailyForex.com Currency Investing Makes a Comeback | RIAIntel RIAIntel.com Is forex trading halal or haram? The Armchair Trader FOREX.com Review | The Ascent The Motley Fool Five Important Facts About Online Forex Trading In New Zealand Otago Daily Times How Currency Trading Works Investopedia Changing the Top Global Currency Means Changing the Patterns of Global Trade Carnegie Endowment for International Peace Regulators tighten control on China’s US$30 trillion currency market South China Morning Post What Is Forex Trading? A Beginner's Guide Investopedia Analysis | How Sanctions Make the Ruble Harder to Trade or Value The Washington Post 15 Banks & Credit Unions That Exchange Foreign Currencies Business Insider
|
