Archives of “winners and losers” tag

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The Perfect Trader

  
  Education
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The Perfect Trader is patient with entries and exits, they are focused on what works not personal opinions. They do not worry about missed trades, the Perfect Trader does not boast while winning and does not become depressed while losing. They are never too proud to admit when they are wrong and exit their trade.  They do not give unsolicited advice to other traders because they know everyone trades their own system and their own plan.  They are not angered by the market action with losses because they take full responsibility for all their trades. They keep a detailed record of all their trades to learn from winners and losers.  They love trading and never stop learning and getting better. The Perfect Trader always protects their capital through risk management, always trusts in their methods, always has faith in themselves and method,  and always perseveres.

 

Daily Trading Plan

  
  Education
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Risk: your loss limit in per trade and the total dollar loss per day. What you will do after x number of losses in a row. Your strategy for increasing and decreasing your trading size.

Goals: how many R’s you are trying to make today. How many trades do you plan to make. How long do you plan to hold winners and losers 

Reporting: your plan for writing a brief narrative of the day’s trading your plan to keep statistics of your trades (hold times, results, et cetera). How you will mark your trades on the same charts you use to trade. 

Contingencies: what phone number do you call to get out of trades should your system crash. Who can you contact to troubleshoot or repair your computer. Who do you call to get your Internet connection checked and fixed, if needed.

 With a well developed, clear plan you will be ahead of the majority of traders and, through this detailed planning, you can concentrate on achieving your stated goals.

What does Money Management do for a Trader?

  
  Education
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Money management keeps them in the game of trading. It is a game and there are winners and losers. The vast majority are losers. More than 90%! Once traders realize they need an exact plan…traders retool their approach, once they analyzed their trading system with money management concepts. Money management keeps traders …trading…

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts, commodity options or forex can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

100 TRADING TIPS

  
  Education
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experience2

1)Nobody is bigger than the market.

 2)The challenge is not to be the market, but to read the market. Riding the  wave is much more rewarding than being hit by it.
 
 3)Trade with the trends, rather than trying to pick tops and bottoms. 
    
 4)There are at least three types of markets: up trending, range bound, and  down. Have different trading strategies for each.
 
 5)In uptrends, buy the dips ;in downtrends, sell bounces. 
    
 6)In a Bull market, never sell a dull market, in Bear market, never buy a dull  market. 

    7)Up market and down market patterns are ALWAYS present, merely one is  more dominant. In an up market, for example, it is very easy to take sell  signal after sell signal, only to be stopped out time and again. Select trades  with the trend. 
  
 
 8)A buy signal that fails is a sell signal. A sell signal that fails is a buy signal. 
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Daily Trading Plan

  
  Education
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Risk: your loss limit in per trade and the total dollar loss per day. What you will do after x number of losses in a row. Your strategy for increasing and decreasing your trading size.

Goals: how many R’s you are trying to make today. How many trades do you plan to make. How long do you plan to hold winners and losers 

Reporting: your plan for writing a brief narrative of the day’s trading your plan to keep statistics of your trades (hold times, results, et cetera). How you will mark your trades on the same charts you use to trade. 

Contingencies: what phone number do you call to get out of trades should your system crash. Who can you contact to troubleshoot or repair your computer. Who do you call to get your Internet connection checked and fixed, if needed. 

With a well developed, clear plan you will be ahead of the majority of traders and, through this detailed planning, you can concentrate

Trading Commandments

  
  Education
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Trading Commandments

 

“Opportunities are made up easier than losses”: Trade-Ideas’ alerts show hundreds of opportunites from which to choose every day. Take your time and find the right ones using The Odds Maker. There is no reason to rush or force anything – every trade arms you with an informational edge.

“Emotion is the enemy when trading”: Trading is ruled by fear and greed. Those two sinners thrive on a lack of enough information or trade expectations. The Odds Maker readout collars these guys by revealing a strategy’s odds of success (%) as well as average winners and losers and net gains or losses.

“Adapt your style to the market”: It is so important to know what kind of foe you are facing. Do breakouts follow through or do they pull back? Are you in a trending or range bound market?

“Keep Your Eye on the Bigger Picture” :No matter what time frame you are trading on, it’s good to know what is happening on the daily charts. Understanding the larger trends in the markets will allow you to be more decisive about your trades in the lower time frames and will help you maintain a more clear perspective. Trading with the overall trends will increase your odds for success.

 

Be Proactive and Not Reactive

  
  Education
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If you want to stay positive even after some losing trades, then it’s also worth taking a proactive approach to losing -as oppose to being reactive to it.

For many, they use the visualising technique. This involves relaxing and trying to see yourself already having lost the trade before it happens. This is some what similar to having no expectations but you make an effort to mentally rehearse the lost. By rehearsing it, you will include your emotions in the rehearsal and start to anticipate how you will feel so that you will not react to it if it does happen.

Many Master Traders probably do not use this technique but they have gone through enough winners and losers to know how they feel. In my view, that is an reactive approach and that is in line with my next point below.

Don’t get me wrong, I’m not saying that visualisation is the best way. But I’m suggesting that you should find the method that best fits your personality. And, to me, that is being proactive.

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