A Tribute to All Those Trading the Markets
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Secrets of Successful Traders
The Secrets of the Successful Trader… The trading game is as much played psychologically as it is physically executing trades. After the markets are closed is where average traders turn into successful traders. To be a successful trader it takes a specific skill set, but more importantly the proper mindset. The techniques, strategies, and lingo can be readily learned, it’s the other side, the psychological aspect which turns an average trader into a successful trader. Create a Business Plan –…
The Missing Piece to Your Trading Journal
Keeping honest, detailed, and meticulous records of your trades is the only way to grow, and the best way to do this is by keeping a detailed trading journal. Van Tharp talks about this in his book Trade Your Way to Financial Freedom along with other ideas on trading for a living. If you’re not into keeping hand written journals and don’t quite get the whole excel coding thing another option are these Trading Spreadsheets. There are various options to…
EminiMind – Futures Trading for a Living
For those who are specifically interested in trading futures for a living I’ve put together a blog over at EminiMind.com
How to Evaluate Your Trades
One great way to track your trade performance and determine which setups are working and which are not is to evaluate your trades at the end of each day and week. This is the breakdown I use and is derived from John Carter’s book Mastering the Trade. 5 – Target reached 4 – Out for win (due to technical factor that signaled me to exit) 3 – Break even 2 – 1 target hit 0 – Full stop out I…
Becoming a Trader, Is it Right for You?
The road to consistently profiting from the market begins with the question, is becoming a trader right for you? Is it a career you’re looking for? A job? A lifestyle? Most people become or strive to become consistently profitable traders because they think it will bring them endless amounts of money and while this may be the case for a select few (less than 1% I would estimate) trading is a hard way to make an easy living. Really, what…