[Trading Psychology] A Commonly Disregarded Account Killer
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Today I want to share with you another practical aspect of trading psychology that often completely destroys accounts yet commonly gets disregarded. Now today’s message is directly related to yesterday’s, where I shared with you a valuable wisdom from one of my early mentors. Essentially it was that trading is tremendously competitive, basically everyone in the world against you, so …
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Are You Trading Or Gambling? How to Tell And What to Do
I just received this question this morning from a client and it seemed worth sharing with you. “I keep hearing trading is just gambling. Any thoughts on that?” And here is my perspective, “If you are placing trades WITHOUT a properly formulated and measured system, you are gambling. Here’s why: gambling by definition means a game of chance. A proper …
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Your 2013 "Last-Minute Trading Readiness Checklist"
Are you ready to go for 2013? Do you have everything in place to make sure that 2013 is a highly-fruitful year? Here’s a quick checklist, just to help you make sure that you’re giving yourself every advantage Your 2013 Last-Minute Trading Readiness Checklist Motivation – to carry you through the year and all its challenges Carrots and sticks to …
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How to Get the Most Out of Your Trading System
There are two primary steps you must take to really get the most out of your trading system. After all, the reason that you entered trading is to make money, so it only makes sense to maximize the effectiveness of your trading system, right? The first thing you must do is to have a clear and written trading system, preferably …
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Great News For Forex Traders Using Ninja Trader And Those That Would Like To
Have you ever been paid to ask a question? Well, my friend Adam Halpern is giving away $100 Gift Certificates to anyone who asks a question about Forex. This needs a little explanation. You probably already know you can now access THE premiere Forex broker, FXCM, through the NinjaTrader platform. But what you may not know, is how this partnership …
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Trading Psychology – Trouble Sticking To Your Trading System?
Do you find that sometimes you have trouble sticking to your system? If so, then you are not alone, and believe it or not, it probably isn’t your fault either. Many traders blame themselves for not being disciplined enough, when in truth the problem exists elsewhere. One such finding is certainly not what most expect. Is it possible that you …
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Learn Forex – Tale of Two Brothers And Why Only One Made It
[I hope you enjoy reading this story. I certainly had fun writing it!] There were two identical twin brothers and these two were identical in almost every way you can imagine. As Children Growing Up They had the same appearance: same hair cut, same voice, laugh, sense of humor. Even had the same body odor and breath. It was almost …
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Trading Psychology – How to Deal With This Depressing Time of Year
Make no mistake, I love the fall and I think it is absolutely beautiful. Problem is, it can be very challenging from an emotional standpoint though, making it difficult to stay positive, to keep momentum. It can also get downright depressing (which is counterproductive for sure, especially for traders). Besides having the summer vacation season over and now it’s just …
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Trading Psychology – Trouble Sticking To Your Trading System?
Having trouble sticking to your system? Is it possible that you are trying to trade without a real system? No, I’m not being sarcastic or funny. So many traders come to me looking for help with their confidence or discipline, just wanting to be able to stick to their system. But what we find rather quickly is that they don’t …
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5 Bad Assumptions Trader Make About Trading Systems
“The problem ain’t what we don’t know. It’s what we think we know that ain’t so.” – Will Rogers, Political Humorist of the early 20th Century There are a number of bad assumptions that are commonly held about trading systems. These create false-confidence that leads many good people to go ahead and trade thinking that they are okay when they …
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