Did you know that most beginner traders can't follow their rules for 7 days in a row? Unfortunately, they start overtrading or changing the rules of the system, entering random trades, overrisk, etc.
I've been there many many times myself, but then slowly started focusing on this part and made my first 7, then 10 days of rules following, broke with another tilt,...
Unlocking Opportunities: Maximizing December Gains Beyond Trading
Introduction:
As December unfolds and the year draws to a close, it's not uncommon for traders to take a step back and assess their performance. The trading landscape experiences a shift, with many prominent investors winding down for the year, paving the way for unique opportunities for those...
As our main goal as a trader is to "make money," in order to do that comes many other things that factor in to having an "edge" in the market.
In this post, I will breakdown 5 ways which could help improve your trading:
#1 Get a good full night sleep
As sleep plays a vital role in our lives for general well being, it also plays an important role in your...
You've probably heard statistic that 90% of traders lose their deposit in the first 3 months. Sometimes it's pocket money, sometimes salary, and sometimes life savings.
Once I saw a message in a traders group from a frustrated 55 year old man who had lost all of his savings of the last 20 years of working as a security guard in a supermarket just in ONE MONTH by...
Sunzi begins by establishing the importance of strategy. Although the word bing has been translated as "war" in most works in the west, once you approach the original Chinese manuscripts and the sense of Sunzi's work, you immediately come to understand that he was not talking about warefare, instead, Sunzi wants us to appreciate how important it is to develop...
In my earlier article, " Proving Your Trading System with Backtesting ", I demonstrated how, in the Futures market, you could backtest your trading system, see what works and what doesn't, change your variables, and rinse & repeat until you have a winning trading formula.
You GET this winning formula by torture-testing (ahem, *back*testing) your system under...
In my earlier article, " Proving Your Trading System with Backtesting ", I outlined the HOWs and WHYs of backtesting. Does your trading system work under all conditions? Under what conditions might it *not* work? Can you remove those instances from your plan? Under what conditions might you *improve* your win rate? In another article, " The Unexamined Trader ",...
Socrates famously said “The unexamined life is not worth living.” Why do we do what we do, why do we feel the way we feel about something, or what is our purpose in life? These questions brought about generation after generation of journals, diaries, and random thoughts from some of our greatest thinkers from Socrates himself, to Jonathan Edwards in early America,...
1. What is a trade journal?
A trade journal is a method which allows you to describe all the relevant details of every trade that you take.
2. Should I have a trade journal?
Every single trader MUST have a trading journal.
Without having a clear picture for each of your trades, it will be very hard to become a successful trader.
3. How does a trade...
