by Kirk Norwood | Dec 23, 2008 | Disciplined Trader Series, Emotions, The Disciplined Forex Trader
You are not a loser because you have a losing trade on. You are, however, a loser if you do not get out of the losing trade once you recognize that the trade is not going to come back. It’s interesting to note how accurate your instinct is as a market...
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 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 4, 2008 | Demo Trading Series, Emotions, The Disciplined Forex Trader
Awareness # 9- Demo Trading To Feed A Trading Addiction Traders need to remind themselves of why they started to trade in the first place. If it is for fun then never open a live account for the market will take all of your money. I have seen traders literally...
by Kirk Norwood | Nov 28, 2008 | Demo Trading Series, Emotions, The Disciplined Forex Trader
Awareness #5- Lack of Psychological Preparation When a trader is using a live account he pays more attention to the results, the cause and effects, or at least he should. This gives psychological feedback to the trader. In demo accounts the ability to learn from...
