by Kirk Norwood | Dec 12, 2008 | Disciplined Trader Series, Emotions, Inside The Trader's Mind, Trading Tips
Have you ever done let a winner turn into a loser? We all probably have especially in the beginning of our trading careers. This is one of the first steps in learning how to manage a trade and use good money management techniques. When you let a...
by Kirk Norwood | Dec 11, 2008 | Disciplined Trader Series, Emotions, The Disciplined Forex Trader, Trading Tips
When things are not working out for you cut down on the size of the lots you trade until you get back on track again. All good traders will follow this rule. Why continue to lose on five lot trades when you could save yourself a lot of money by lowering...
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...
by Kirk Norwood | Dec 9, 2008 | Disciplined Trader Series, Emotions, Exit Signals, Money Management
When you are waiting for the market to set up and give you the proper entry or exit signals you are showing discipline. When you exercise discipline you will make more money and lose less money. There is one constant truth about the markets and that is discipline...
by Kirk Norwood | Dec 8, 2008 | Disciplined Trader Series, Planning A Trading Career, Topics To Study
The first tool is your trading system or the methodology you use to enter an exit the market, your trading system. You need to be very good at the trading system before you can enjoy any success as a trader. Once you have mastered your trading system it is like...
by Kirk Norwood | Dec 5, 2008 | Disciplined Trader Series, Money Management, Planning A Trading Career, The Disciplined Forex Trader
A big win can take care of many small losses and a big loss can wipe out many small wins. It all boils down to money management, following some trading rules, and being disciplined. Enter a trade put on a stop loss take a small loss. -$8 Enter...
