by Kirk Norwood | Aug 28, 2009 | Launch Pad, Trading Courses, Trading Strategies, Trading Tips
Finding Confidence in the Stop Loss Principle I spoke with one of our coaching students today. He has been through the product courses (Launch Pad and Nth Degree) a total of three times each. He has been entering trades based on the signals and he told me he is...
by Kirk Norwood | Jul 24, 2009 | The Disciplined Forex Trader, Trading Strategies, Trading Tips, Trends
Discipline is the ability to be patient – to sit on your hands until your system triggers an action point. Sometimes the price won't reach your anticipated price point. At this time you must have the discipline to believe in your system and not to second-guess...
by Kirk Norwood | Dec 17, 2008 | Disciplined Trader Series, Planning A Trading Career
Develop a trading plan and Stick with it. Do not change your trading plan from day to day Just like a business needs a plan a trader needs a plan. Write down the specific market prerequisites (setups) that must take place in order for you to make a...
by Kirk Norwood | Dec 16, 2008 | Disciplined Trader Series, Money Management
Keep a trade log or journal of your trades for the day or week. If you know that your biggest winner is 50 pips then do not allow a losing trade to be larger than 50 pips. If you do allow a loss to exceed your biggest gain then, effectively, what you have when...
by Kirk Norwood | Dec 10, 2008 | Disciplined Trader Series, Indicators, The Disciplined Forex Trader, Trading Tips
Wait for the market to come to you 100% of the time to prove that you are disciplined. If you chase the market then you are not disciplined. If a trader says he waits for trades but anticipate the signals and jumps in the market then he in not a disciplined...
