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Money is something that affects people’s emotions and your natural instincts with money will often encourage you to break some of the time tested risk management rules, for example ‘cutting your losse...
It is well accepted that this is a characteristic of the best traders in the world. They have a passion for their trading and will often and periodically review all of the trades that they have conduc...
Having high expectations of yourself is a good thing however, unrealistic expectations is not. Many traders when presented with the wonderful opportunities that the market offers can be very easily le...
One of the things that separates successful traders from the majority of market participants is that they have a detailed plan that guides them when to close trades. For them, this is essential.
Interestingly, many studies suggest that humans are naturally inclined to fail at trading. People are naturally inclined to break all of the time tested trading rules. Probably the biggest reason for ...
Undoubtedly however, trading can be a taxing experience on your mental health. You are constantly faced with decisions that need to be made and can easily go through the swing of emotions described ea...
Trading is like running a business and anyone who has run a business successfully will tell you that emotions should have little place in your decision making. Although because of money and your natur...
For example, if you used a standard 10% stop, this would be a tighter stop (i.e. closer) for some securities than for others. If a security moves 5% a day on average, then a 10% stop would be tighter ...
Importantly, the outcome of every trade is dependent on the exit. If you enter in a timely manner and then exit poorly, the trade could very easily be a loss. If your entry happens to be poor but your...
I believe a lot of people think that the more time that can spend developing and refining their entry signal, the better off they will be – sometimes to the detriment of more important areas.
Furthermore, you would have thought previously about why some people are so successful in life and others are not. How many books have been written about having a positive attitude and taking action t...
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