by Kirk Norwood | Mar 25, 2008 | Trading Strategies
Some people say you should not risk any more than 2 percent of your account on any one trade, while others say between 3-4% is max. One thing is for sure, you should be conservative. We feel you should never risk any more than 5 percent of your account on any one...
by Kirk Norwood | Mar 24, 2008 | Money Management
One of the best ways to lose your money is to try and trade when you need the money to pay bills. You do not have any room for a draw down. If you have a loss then you try harder to make it up to reach your required objective. When you do not reach it you start to...
by Kirk Norwood | Mar 21, 2008 | Planning A Trading Career, The Disciplined Forex Trader
How many trades do you have to make to determine what you are dong right or wrong? If you do not keep a trade journal there is no telling how long it might take to uncover a good trading skill or a destructive trading habit. There are many people that just keep...
by Kirk Norwood | Mar 20, 2008 | Trading Strategies
When you open your live account decide on the amount of money you can and will lose before you stop trading and go back to learning. Better yet, learn to trade first. Do not decide to stay in the market until your first nest egg is gone. Experience shows that many who...
by Kirk Norwood | Mar 19, 2008 | Money Management, The Disciplined Forex Trader
What is noise? Noise is when the market is moving up and down in short moves. This can be seen in smaller time frames very easily. For example, on the 5-minute time frame you will see the market move in 10-15 pip cycles, then it moves for 20-25 in one direction or...
