by Kirk Norwood | Aug 20, 2008 | Inside The Trader's Mind, The Disciplined Forex Trader, Trading Tips
There is an old saying that says you should “let your profits runâ€. In regards to this there are two schools of thought. One: this is good advice and it should be followed. Two: it is better to be consistent and follow your system and take several trades out...
by Kirk Norwood | Aug 19, 2008 | Trading Strategies, Trading Tips
We feel that there is only one thing worse than not using a stop loss and that is setting the stop to close to the entry price. We really get frustrated when we set our stop the market moves against us, stops us out then moves in the direction we had originally...
by Kirk Norwood | Aug 15, 2008 | Exit Signals
When exiting a trade, you can do so under four different assumptions. In the best of worlds, exit technique number one is the profit target.   Exit technique number two is the trailing stop, which comes into play when the market is starting to move against you...
by Kirk Norwood | Aug 14, 2008 | Inside The Trader's Mind, Money Management, Trading Tips
We have all been told that we should only trade with money we can afford to lose.  This does not mean to be wild and care free with your trading money. So we do not want to think of our trading account as money you can afford to lose. We just have to know that...
by Kirk Norwood | Aug 13, 2008 | Emotions, Exit Signals, The Disciplined Forex Trader, Trading Tips
One bad thing trader’s fall into the habit of doing is to try and get every last tick out of a trade. We have all experienced a trade that started off great then turned out to be a looser. Then there is the trade that starts out with a small loss and turns out...
