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 | Dec 31, 2008 | Disciplined Trader Series, Inside The Trader's Mind, Money Management, Planning A Trading Career, The Disciplined Forex Trader, Trading Strategies, Types of Traders
We get a lot of questions and comments about what this means. You should know by now that you will lose sometimes when trading. That does not mean you will lose all of your account unless you use poor money management techniques or none at all. It...
by Kirk Norwood | Dec 30, 2008 | Disciplined Trader Series, Planning A Trading Career, The Disciplined Forex Trader
I have never met a successful speculator. It is impossible to speculate and consistently have large wins. Don’t be a speculator. Be a trader. Trading in the direction of the trend on a 1 hr or 4 hr chart is always a good way to trade. Use good money management...
by Kirk Norwood | Dec 29, 2008 | Disciplined Trader Series, Planning A Trading Career, The Disciplined Forex Trader
Don’t worry about the news by the time you read it, it is history. Early in my trading career I was told to not listen to and TV or radio financial news. Stop reading Magazines, and newspapers about the financial markets. Learn to trade with what the...
by Kirk Norwood | Dec 19, 2008 | Disciplined Trader Series, Inside The Trader's Mind, Planning A Trading Career
You always want to be able to trade another day. If you really want to trade then you should never put yourself in the position where you have lost your trading capital. One of the most frustrating feelings is when you want to trade and you can’t because...
by Kirk Norwood | Dec 17, 2008 | Disciplined Trader Series, Planning A Trading Career
Develop a trading plan and Stick with it. Do not change your trading plan from day to day Just like a business needs a plan a trader needs a plan. Write down the specific market prerequisites (setups) that must take place in order for you to make a...
