by Kirk Norwood | Jan 26, 2009 | Emotions, Mentor's Corner, The Disciplined Forex Trader
I had a marvelous morning Wednesday morning trading the New York open. Traded both the EUR and EURJPY and profited 200 pips, which took my account up to $7,000 profit since Monday night. Then, I let my emotions get to me, and the nerves set in. I went...
by Kirk Norwood | Jan 20, 2009 | Inside The Trader's Mind, Money Management, The Disciplined Forex Trader
When we first start trading all of us have big dreams of how much money we will be making. We dream of the new life we will be having. All the places we will travel to and the things we will have. What happens to those dreams? Many of us are so excited to get...
by Kirk Norwood | Jan 16, 2009 | Money Management, The Disciplined Forex Trader
We have all probably heard of the trader who turned $10,000 into over $1,000,000 in one year. Well it has been done but do you really believe you can do it? You've also probably seen the ads and websites, which claim big returns with minimal work. Ask yourself, is...
by Kirk Norwood | Jan 14, 2009 | Inside The Trader's Mind, The Disciplined Forex Trader
Each day when we start to trade we have a chance to win or lose. The deterring factor is how we play the game. How we have prepared ourselves physically, mentally, and emotionally. Did we sleep well, did we eat well, and are we in harmony with those...
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...
