via IFTTT PAPER TRADING AFTER A LOSS My good friend gave me this little tip a short time ago, and I think every trader can learn from it. He is a successful trader. One of the main reasons he is successful (when others are not) is because he uses some excellent techniques to keep him…
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BEING AN ACTIVE WINNER AND LOSER via IFTTT Some people believe trading is like gambling. It’s not. In a gambling game, you have to participate to lose and do absolutely nothing to stop losing. If, after one bet, you don’t put another bet on the table, you will not lose. There is also no way…
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BEING OBJECTIVE via IFTTT Do you believe anything can happen in the market at any time? This is what being objective is all about. You need to constantly be thinking that the market can do whatever it wants whenever it wants at any time. Many people get into trouble by thinking the market can’t or…
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HOW TO DEAL WITH THE MARKET WHEN IT NEVER STOPS MOVING via IFTTT The market is always moving. It never stops. It may slow down and pause for a little while, but it never stops moving. Even when the markets are closed, the prices are still moving, as they can certainly open up at a…
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via IFTTT THE USE OF STOP ORDERS I think any trader, no matter how good their discipline is, should be using stop loss. In all my years, I’ve never met a successful trader who didn’t use stop loss. It will definitely help you act in your own best interest more often than not. Whenever I…
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via IFTTT FLAWLESS EXECUTION Many people get confused and think that flawless execution means always selling near the high and buying near the low. It doesn’t mean that at all. No, in fact I think it will be very rare in almost all of your trades for you to buy near the low and sell…
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via IFTTT TRADING RULES It’s kind of strange in a world with no rules (like trading) that it’s so important to have a specific set of rules that you follow religiously. I mean let’s be honest, trading really doesn’t have any rules. You can get in whenever you want. You can get out whenever you…
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via IFTTT DO YOU DESERVE TO MAKE MONEY? Like we talked about in previous episodes, many people have a certain idea of how long and how much effort it takes to make a certain amount of money. Most job situations offer an unchanging reward regardless of effort. This is very different than trading the…
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via IFTTT REMAINING FLEXIBLE Years ago, I got some advice from a fellow trader. He told me to never get married to a trade. If you don’t remain flexible and stay detached from your trades, you will not become successful in this business. Basically, what this means is very simple. No matter how strongly you…
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via IFTTT TIME HAS NO BEARING ON MONEY Most of us have ideas about the amount of time it takes to make a certain amount of money. These ideas do not apply to trading the markets. A trader can literally make thousands of dollars in a matter of minutes or even seconds with very little…
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