Correcting A Misguided Thought Process 7 of 7

by Kirk Norwood | Feb 27, 2010 | dominating the fear of loss series, Emotions, Money Management, Trading Strategies

We have gone over some guidelines to help keep our thoughts about trading clear and on track.  We have talked about: Having a trading system and a set of rules. Using trading capital that will not have an impact if it is lost. Develop a win-loss ratio Good money...

Meta Trader 4 Platform Quiz

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...

Is It The Market OR Are You The Problem?

by Kirk Norwood | Feb 6, 2010 | Inside The Trader's Mind, Mentor's Corner, My Trades, Trading Strategies, Trading Tips

Do you find yourself hesitating to pull the trigger on trades, and when you look back you say, I could have made a lot of pips on that one if I had only. Do you still leave trades on hoping they will come back.  You know the “blowout trades” that take all of the...

Money Management 5 of 7

by Kirk Norwood | Jan 29, 2010 | dominating the fear of loss series, Money Management, Trading Strategies

One of the basic laws to be used with the win-loss ratio is good money management.  A win-loss ratio can be improved with good money management. The first rule is to trade money you don’t need.  If you don’t need the money then you can be more in control of your...

Win-Loss Ratio 4 of 7

by Kirk Norwood | Jan 22, 2010 | dominating the fear of loss series, Inside The Trader's Mind, Trading Strategies, Trading Tips

How do you establish a win-loss ratio?  How many trades do you need to do?  The more trades the better but you will need at least 100.  We like to break in down in to groups of 20 trades and see what the ratio is on this small group of trades.  If your ratio gets...

How To Become A Smart Loser 3 of 7

by Kirk Norwood | Jan 4, 2010 | dominating the fear of loss series, Exit Signals, Mentor's Corner, Trading Strategies, Trading Tips

If you have learned a good trading system and know the mechanics of entering and exiting trades and you can make money on a demo account, this does not meant you have the temperament to trade successfully. Most people can learn the mechanics of trading and talk the...