by Kirk Norwood | Jan 16, 2008 | The Disciplined Forex Trader, Trading Tips
What does it mean to survive in forex trading? I think it means more than just trying to make a profit. To me it means sticking with it, learning reliable strategies and not quitting when you take a few losses. If you stay around long enough, follow your set trading...
by Kirk Norwood | Jan 15, 2008 | Trading Tips, Trends
Your smallest lost should be your first. If you decide to wait until the market turns to see if you will get out of it, you risk a good chance losing much more than you would like. Trade with a trading plan arrived at from a simple trading system. Learn the platform,...
by Kirk Norwood | Jan 14, 2008 | Trading Tips
You might wonder how I could put the words "profitable" and "losses" together and still make any sense. Well, let me explain: Most of my losses have been very profitable. Not in terms of money made (well, "lost" is the more accurate word here), but in terms of what I...
by Kirk Norwood | Jan 11, 2008 | Trading Tips
Many people say that different brokerages hunt for stops. However, that is just not true. Let me tell you what happens. Many people place their stops all in the same place, and doing so draws the market to that area. Some of these areas are at pivot points, Fibonacci...
by Kirk Norwood | Jan 10, 2008 | Money Management, The Disciplined Forex Trader, Trading Tips
Once you’ve made a nice profit start to look for your exit signals. Once you have made a lot of money on a trade it is tempting to try and milk a little more out of it. You need to watch your signals and trust them to tell you when it is time to close a trade. One...
by Kirk Norwood | Jan 9, 2008 | Trading Tips
Don't ever let your losses run. Always use stop-loss orders! Nearly ALL traders make the mistake of allowing their losses to run, hoping that the market will return in their favor. Most often this will lead to an even bigger loss. Everyone needs to learn how to cut...
