The Secrets of the Super-Traders
The first and perhaps most important "secret" is to realize that your methodology or approach (no matter how good) is only part of being a highly successful trader. This applies to any trading style including, day trading, swing trading or position trading.
The simple fact is that a bad trader can screw up a fantastic trading system. Conversely a talented trader can take a mediocre strategy and make money with it.
Why? Please read on and I will explain.
Many traders/investors that I have talked with think that to be a "Super-Trader" that they must possess some type of highly advanced trading techniques or software along with nerves of steel and a highly developed intuitive feel for the markets. In addition they think that these elite group, have some "inside information" that they don't.
You will be relieved to know that the above is not necessary. There are actually only a few things that separate traders who consistently make money and those who don't.
And here they are?
* Skilled traders find a strategy or market pattern that offers a high probability for success. They make money by exploiting this edge over and over again.
* Skilled traders never deviate from their methodology or "wing it".
* Skilled traders never enter a trade without a entry and exit strategy. They know exactly when and where to cut their losses as well as taking profits.
* Skilled traders never ever let a winning trade turn into a losing one. The easiest way to ensure that this doesn't happen is to place a protective stop at or a few ticks in the money once your position is up several points.
* Skilled traders never hope, pray or wish that their stock would go up. They understand that when they are wrong they are wrong and the best thing to do is cut their losses short.
* Skilled traders never trade with their emotions. They don't allow themselves to get caught up in the latest and greatest investment hype.
* Skilled traders always have one goal in mind: To preserve their capital at all costs. They do this by never taking on too large of a position. A good rule of thumb to adhere to is never use more than 5% of your funds on any one trade. This way in the worst-case scenario the stock could drop to zero and your account would not be severely affected.
* Skilled traders never get too greedy. There is an old saying that "Pigs gets fed and hogs get slaughtered". These traders don't try to make one big trade that will turn them into instant millionaires. They don't try to hit home runs, instead they understand that it is better to keep hitting singles and making smaller consistent profits.
* Skilled traders enter and exit trades swiftly and decisively.
* Skilled traders listen to no one else's opinion concerning the market or particular trade they are in.
* Skilled traders are often contrarians. They will be buying when others are too scared to and sell when the crowd starts buying.
That's it, the secrets to making big money in the markets. Perhaps that is a bit of a let down as you were hoping for something a bit more esoteric and complicated.
Let me assure you that if you follow the above principles that you will take your trading skills and profits to a level that you never thought possible!
This article is courtesy of Dr. Jeffrey Wilde, a trading veteran with 15 years of experience in all major markets. He is a trading coach to over 1400 traders in 38 countries.
For additional info: http://www.win-at-trading.com
 Google News Updated : Thu, 24 Jul 2008 12:51:51 GMT Day After, WNBA Untangles Brawl - New York Times
New York Times - By MIKE OGLE Some of the WNBA’s biggest stars commanded national attention Tuesday night and into Wednesday - but not in a way their teams or the league wanted. Don't count on fights becoming WNBA trend WNBA may have a fighting chance Publ.Date : Thu, 24 Jul 2008 05:06:48 GMT Obama to demand more from Europe in Berlin speech - Reuters
Reuters - By Caren Bohan and Noah Barkin BERLIN (Reuters) - US presidential candidate Barack Obama is expected to call on Europe to do more in hotspots like Afghanistan when he speaks in Berlin on Thursday in his only formal address of a week-long foreign tour. Berliners welcome Obama as they did JFK Obama Starts European Trip With Stop in Germany Publ.Date : Thu, 24 Jul 2008 12:25:11 GMT US cancer boss in mobiles warning - BBC News
BBC News - The director of a leading US cancer research institute has sent a memo to thousands of staff warning of possible higher risks from mobile phone use. Cell phones: The next cigarettes? Group sees possible link to brain cancer Publ.Date : Thu, 24 Jul 2008 10:35:11 GMT Aurilia, Vizquel help Giants rally for win - San Jose Mercury News
San Jose Mercury News - By Andrew Baggarly It would be difficult to claim that the Giants improved their playoff hopes when they rallied for a 6-4 victory over the Washington Nationals on Wednesday night. Aurilia gets key hit, makes pitch for old guys Giants rally in eighth to edge Nats Publ.Date : Thu, 24 Jul 2008 08:43:04 GMT Hunt begins for Karadzic helpers - BBC News
BBC News - Officials investigating captured Bosnian Serb ex-leader Radovan Karadzic say they will track down and punish those who aided his false identity. Video: Karadzic plans to defend himself in The Hague Kenya: Karadzic's Fate a Lesson Publ.Date : Thu, 24 Jul 2008 11:47:45 GMT Finding Bale's dark side - Chicago Sun-Times
Chicago Sun-Times - BY BILL ZWECKER Sun-Times Columnist 'The Dark Knight'' star Christian Bale's alleged ''assault'' in London against his mother and sister is part of a long-simmering family feud. Batman star stays silent in Spain Christian Bale's lady sidekick: Sibi Bale Publ.Date : Thu, 24 Jul 2008 09:08:50 GMT Sudan's president boogies on last Darfur pit stop - AFP
AFP - EL GENEINA, Sudan (AFP) - A dancing Sudanese President Omar al-Beshir paraded as a man of peace on Thursday during a heavily protected tour of Darfur defying accusations that he masterminded genocide in the region. Sudan counters charges with diplomacy Al-Bashir in Sudan peace pledge Publ.Date : Thu, 24 Jul 2008 12:15:43 GMT RSS Parser |
PARLOT::Ebooks, Scripts,
Websites, and more... A Forex broker is a broker dealing in foreign exchange,... Read More There is one very important factor that you should consider... Read More RULE #1) ~ Cut your losers; let your winners ride.One... Read More "FX" is an abbreviation of "forex" or "foreign exchange." Foreign... Read More Could it be possible that you are staring right into... Read More The Foreign Exchange Market ? better known as FOREX -... Read More Have you noticed that when someone's trying to sell you... Read More My father, who owns a small parts store and garage... Read More Foreign exchange trading is the trading of currencies. Most currencies... Read More What are Forex signals? Forex signals are paid services offered... Read More Long TermLong term traders will work from end of day... Read More Most traders tend to concentrate on pinpointing the perfect entry... Read More The business world is a complex web of supply and... Read More There is one aspect that is considered as one of... Read More An online forex broker is a firm that facilitates retail... Read More The simplest definition of currency trading is the practice of... Read More You may be asking yourself "how does one begin to... Read More So you have learned how to trade the markets by... Read More Cut your losses short and let your profits run. This... Read More Keen on starting FOREX trading? Why would you not be?... Read More For those of you who are interested in forex trading,... Read More During my first year as a local (independent trader) on... Read More Q1: When you consider that the foreign exchange market has... Read More FOREX is the world's largest and most liquid trading market.... Read More It is possible to buy and sell money from different... Read More
Adsense
websites
Forex Brokers - Helping to Maximize Your Success
The Meaning of FOREX Price Charts and How to Use Them
Two Timeless Rules in FOREX Investing
Forex Market Overview
Assessing the Opportunities Presented by the New Iraqi Currency
FOREX - Where Fortunes Are Made Everyday
Intrenet Marketing VS Forex Currency Trading
The Miracle of Forex
Reality of Online Forex Trading
Forex Signal Services
Trading Timeframes
Trade Entry Techniques
Business and the Forex
The Margin Advantages of Trading FOREX.
A Look at Online Forex Brokers
New Opportunities with Forex Trading
Trading Profitably on the Foreign Exchange Market
Trading Tips No 1: Learn How to Trade The Moment of Truth
Trade Exit - How To Cut Losses And Let Profits Run
FOREX Trading Philosophy
Where to Get Forex Training
What I Learnt Losing £60,000 My First Year as a Full-time Trader
Online Forex
A Short Introduction To FOREX
Forex Currency Trading
Affordable and Reliable Web Hosting Starting at $4.49/Month
How To Control Fear And Greed In Trading
There is an old saying that the market is driven... Read More
Internet and Computer Systems in the FOREX Business
With every passing year the interest in electronic trading is... Read More
Online Forex Trading
Foreign exchange currency trading is also known as Forex trading,... Read More
Forex Currency Trading
It is possible to buy and sell money from different... Read More
Forex Trading - Advantages and Disadvantages
What is Forex Trading?Forex, or Foreign Exchange, is the simultaneous... Read More
A Look at Forex Market Makers
The investor in the currency market takes for granted that... Read More
Why Demo Account Performance Is Often Better Than Real Account Performance
Over the past several years, the popularity of online currency... Read More
Forex Trading Systems
The foreign exchange currency market is the largest market in... Read More
Commodity Trading - Advantages and Disadvantages
What Is Commodity Trading?Commodity futures markets allow commercial producers and... Read More
Money Management - The Holy Grail Of Trading
Money management determines how much to risk on each individual... Read More
The Secrets of the Super-Traders
The first and perhaps most important "secret" is to realize... Read More
The Basics of Forex
Foreign exchange market is also known as Forex or FX... Read More
Online Futures Trading - Advantages and Disadvantages
What Is Online Futures Trading?A futures contract is an agreement... Read More
An Evaluation of the Devaluation
A Minister of Finance is morally right to lie about... Read More
Writing A Trading Plan
All professional traders have a trading plan. Trading futures is... Read More
Option Arbitrage in the Forex Market
What is arbitrage? Arbitrage is the simultaneous buying and selling... Read More
Where to Get Forex Training
For those of you who are interested in forex trading,... Read More
A Beginner?s Guide to FOREX
FOREX is the abbreviation for the Foreign Exchange market. FOREX... Read More
Day Trading - Moving Averages vs Support and Resistance
When day trading the SP and Nasdaq futures, do you... Read More
Stocks Trading - Advantages and Disadvantages
What is Stocks Trading?Companies throughout the world issue new stock... Read More
Trade Entry Techniques
Most traders tend to concentrate on pinpointing the perfect entry... Read More
Sending Signals for Trading in Forex
Forex signals are sent by a forex firm to their... Read More
Exploring the World of Day Trading
Are you looking into a career in day trading? In... Read More
How to Trade Currency
We all know when you go on a trip to... Read More
Crisis of Confidence in the EU
The European Union (EU) constitution was dealt a double blow,... Read More
Currency Trading |