by Kirk Norwood | Feb 20, 2010 | Mentor's Corner, MT4 Tips, Topics To Study, Trading Strategies
Do you know what these terms mean? Waiting for Update Trade Context is Busy Bid – Ask MT4 charts are bid charts Margin Waiting for Update “Waiting for Update†is a common message with a new account or when switching between a mini and a standard accounts. There...
by Kirk Norwood | Jan 14, 2010 | Inside The Trader's Mind, Mentor's Corner, Topics To Study, Trading Tips
There is no system that can prevent the market from whipsawing. There will be times when you will have a loss. By learning how to manage trades to minimize your losses your account can grow. This is the way we like to take the higher probability trades. When we...
by Kirk Norwood | Mar 27, 2009 | Topics To Study, Trading Strategies
Traders can get caught up in thinking that shorter time frames can reduce risk. They think they can get out of bad trades sooner but they also get out of good trades sooner. If a trader is looking at the smaller time frames like the 1- and 5- minute they will...
by Kirk Norwood | Mar 20, 2009 | Topics To Study, Trends
Try this exercise it is a good way to understand trading the trend. Go to a 5-minute chart and find a trade by only looking at the 5-miinute time frame. Now expand your outlook and look at the charts on the1 hr or 4 hr time frames, you may see something...
by Kirk Norwood | Mar 18, 2009 | Topics To Study, Trends
When fighting the trend and insisting that the market is due to reverse itself is a sure sign that a trader will not be in the market very long. If a trader tries to catch short-term countermoves trying to make a few pips or always looking for the tops and...
by Kirk Norwood | Feb 27, 2009 | Topics To Study
The Rain Man Alert gave the signal that this trade was ready to go. The trade was entered and closed out by management decision because of the speed and distance it had gone up. The trade was closed with 105 pips. The trade was taken while day...
