Trading Systems

When to Close a Position

With all the literature out there, it’s easy to find trade set-ups and entry strategies, but the real money is often made with proper exit logic/strategies. What did classical thinker Richard Wyckoff say about closing a trading position? In his book Studies in Tape Reading, Wyckoff identifies four specific reasons… Read More

3 Tricks to Stick to Your Stops

  Being good at taking losses is the hallmark of a good trader. That may sound fishy, but bear with me… You see, some of the most successful traders I know are also the most psychologically prepared to cut their losses and… Read More

Three Rules For Trading Breakout Stocks

It’s no secret that a choppy market can rob traders of their hard-earned gains. Anyone with market experience will tell you that scalping meager profits from a market with no easily identifiable trend is an effective way to drain… Read More

The Perception Of A Loss And Trading Psychology

Sports and trading often go hand in hand in terms of psychology. I’m a huge football fan, and I can’t remember the last time I missed a Chicago Bears game. Last season the Bears almost made it all the way to the Superbowl, however all season long sports analysts were… Read More

Do Forex Brokers Really Take Out Stop Orders?

Whenever I talk to a Forex trader they almost always complain about their broker “taking out their stop” or “stop running”. For those who aren’t familiar with this concept, traders believe that they place their stop loss at a given level, and… Read More

5 Tips for Traders With A Full Time Job

It is possible to trade with a full time job? Most certainly yes, but challenges will arise for those that want to devote their limited time to two full time professions. In this article, we’re going to address the debate over whether or not you can be a successful trader… Read More

Change Poor Trading Habits in 3 Easy Steps

There are two types of stock traders: those that make money consistently and gamblers. As you’ve probably already guessed, the gamblers outnumber the consistent winners 10-to-one. Sure, gamblers can make a significant profit on just one big bet. And a gambler might… Read More