|
| |
 | |
|
|
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. June / 19 / 2021The History of Forex Trading Gary Skentelbery How to Make Money with Forex Trading for Beginners? State-Journal.com Is Forex Trading legal in Zimbabwe? Understanding the forex market and local regulations Zimbabwe Independent Forex Trading, All You Need to Know BusinessMole Must Read eBooks for Forex Trading in 2021 Good e-Reader Understanding and Learning How to Start Forex Trading in India Chiang Rai Times When to invest in forex trading Ripple Coin News Forex Trading, a Beginner’s Guide to the Basics News Anyway Forex vs Stocks Gary Skentelbery What Makes Forex Trading Attractive in 2021? Your Money Geek 4 sites to keep up to date with Forex news Business MattersBusiness Matters How to find the best Forex broker in the UK The Scotsman How To Choose The Right Currency Trading Indicate Company LA Canyon News Free Forex Trading Signal EUR/NZD Buy - 18 June 2021 Forex Crunch How to Predict the Forex Market with Trading Signals Smarter Analyst Forex vs Crypto Trading: What are the differences? Redditch Standard Did Presidential Hopeful Hemmati Successfully Defend Iran's Currency? — Bourse & Bazaar Bourse & Bazaar Natural Hedging: Does Matching of Currency Footprints Lower Risk? International Banker Currency trading made easy: Road to becoming a successful Forex trader - The Leader Newspaper Online Currency trading made easy: Road to becoming a successful Forex trader The Leader Newspaper Online Bitfarms to Commence Trading on Nasdaq on June 21st GlobeNewswire How to Trade Forex in 5 steps Pulse Nigeria Can Bitcoin become a real currency? Here's what's wrong with El Salvador's crypto plan The Conversation AU Japanese Yen Outperforms as USD/JPY Overlooks Dollar Bounce Pound Sterling Live 'I put my life savings in crypto': how a generation of amateurs got hooked on high-risk trading The Guardian What are the best forex trading strategies? Cape Business News Forex Trading – How Do I begin? - NuWireInvestor NuWire Investor US Cryptocurrency Trading Platform Gemini Lists Fantom bitcoinist.com GBP/EUR: Pound Hovers Around Two Week High Currency Live The 6 Best Online Forex Trading Classes of 2021 Investopedia Australian Trade Minister Tehan: To decide ‘very shortly’ on WTO action against wine tariffs with Beijing Forex Crunch Bitcoin traders using up to 100-to-1 leverage are driving the wild swings in cryptocurrencies - CNBC Things You Need To Know Before Entering Forex Trading NuWire Investor Forex Today: WTI Crude Oil Breaks $72.50 DailyForex.com USD/INR: Rupee Tanks To 6 Week Low Post Fed Currency Live What is Forex Trading? Investment U A Forex Trading Guide For Beginners | Sponsored | state-journal.com State-Journal.com What is Expected in the Foreign Exchange Market in 2021? Finance Magnates A beginner's guide to Forex trading BusinessMole Best Forex Trading Platforms In 2021 Yahoo Finance A comprehensive understanding of Forex trading The Portugal News Best Forex Trading Platform Choices of 2021 Fortunly News Can I Get Rich With Forex in 2021? Study Breaks is Forex Trading a Good Way to Make Money Online ? Love Belfast Owners of Foreign Currency Exchange Investment Company Indicted for $129 Million Wire Fraud and Conspiracy Department of Justice Next Forex Trading Terms You Need to Know Before Trading North Forty News COVID-19 and the Forex Market in 2021 Finance Magnates Best online brokers for forex trading in June 2021 Bankrate.com Previous article Top 10 Forex Mentors in 2021 Influencive The Currency-Market Snoozefest Might Not Last The Wall Street Journal How does the currency market work? - NuWireInvestor NuWire Investor Forex Brokers: Are They a Scam? | Investing | US News - U.S News & World Report Money U.S News & World Report Money
|
