by Kirk Norwood | Jan 12, 2009 | Disciplined Trader Series, Planning A Trading Career
If you have ever been around or seen manufacturing you know that the machines do the same thing all day long over and over again. Each machine is good at what it does and if you ask a filling machine to put on the lid or make a cut it does not work. Traders are...
by Kirk Norwood | Jan 9, 2009 | Money Management, The Disciplined Forex Trader
We hear all the time that a trade should be scaled out of by one half when you reach a profit target then set your stop loss to break even on the remaining portion of the trade and let it run to see if it will make more money. By scaling out of a trade means to...
by Kirk Norwood | Jan 8, 2009 | Disciplined Trader Series, Inside The Trader's Mind, The Disciplined Forex Trader
Knowing you can do it BUILDS CONFIDENCE AND CONTROL. How nice would it to be to turn on your computer in the morning knowing that if you play by the Rules, trade with discipline and stick to your methodology, the probability of a successful day is high. Knowing...
by Kirk Norwood | Jan 6, 2009 | Disciplined Trader Series, Money Management, Planning A Trading Career, The Disciplined Forex Trader
Make a little bit everyday. Make a pile of money. Don’t and make a money pit. When you can do this illustration in a demo account then start trading live. Lets take a $1000 account for example: Make $5 a day for 250 days a year = $1250 ...
by Kirk Norwood | Jan 2, 2009 | Disciplined Trader Series, Money Management, The Disciplined Forex Trader, Trading Strategies
You can determine that you will get out of a trade before a news announcement or you will not carry a trade over a weekend. These are good ideas if you are in a trade that is going against the trend. Many times the market will move because of news, then...
