by Kirk Norwood | Jul 29, 2009 | Create Trading Plan - Series, Trading Program, Trading Strategies, Trading Tips
New traders try to learn how to do everything and never become good at anything. You must narrow your trading focus to grow. Look at your current personal schedule. What time do you have available to trade? Why are you trading in the first place? You'll...
by Kirk Norwood | Jul 27, 2009 | Create Trading Plan - Series, Trading Program, Trading Strategies, Trading Tips
The single most powerful trading tool on the planet is a trading plan. Now before you roll your eyes and run for the hills, let me clarify. I am not referring to an academic exercise from a book. I'm talking about a simple plan that details who you are, what you are...
by Kirk Norwood | Jul 24, 2009 | The Disciplined Forex Trader, Trading Strategies, Trading Tips, Trends
Discipline is the ability to be patient – to sit on your hands until your system triggers an action point. Sometimes the price won't reach your anticipated price point. At this time you must have the discipline to believe in your system and not to second-guess...
by Kirk Norwood | Jul 22, 2009 | Emotions, Entry Signals, Exit Signals, Inside The Trader's Mind, The Disciplined Forex Trader, Trading Strategies, Trading Tips
Objectivity or "emotional detachment" also depends on the reliability of your system or methodology. If you have a system that provides entry and exit levels that you know have a high reliability factor, then you don’t need to become emotional or allow...
by Kirk Norwood | Jul 20, 2009 | Trading Strategies, Trading Tips
We have all heard of the get rich quick advertisements or the stories about people that made millions in a short period of time trading the foreign currency market. Taking this information seriously will cause you heart burn when it does not happen to you. ...
by Kirk Norwood | Jul 17, 2009 | Inside The Trader's Mind, Trading Strategies, Trading Tips, Trends
Once you know what to expect from your system, you must have the patience to wait for the price to reach the levels that your system indicates for either the point of entry or exit. While you are waiting for the indicators to give you the entry sign you can look at...
