Online Trading Academy Don Dawson wrote a very good article on updating your trading plan - "Is it Time for a Checkup?".
In this article he mentioned how keeping a trading journal helps in fine tuning your plan. Boy, did I learn my lesson about keeping journal.
Check out the article - "Is it Time for a Checkup?".
Tuesday, June 30, 2009
Friday, June 12, 2009
FREE Trading and Investing Seminars
INO.com would like to give you a FREE preview of its newest service, INO TV.
The preview gives you access to 4 full length seminars by Jack Schwager, John Murphy, Jake Bernstein, and Ron Ianieri. All experts, all well recognized, and highly trafficked by our current members.
The best part is that you can view these free seminars anytime you want from the comfort of your own home! No more traveling and paying hundreds even thousands of dollars for trading knowledge. INO.com puts knowledge right at your fingertips!
http://www.ino.com/info/36/CD3393/&dp=0&l=0&campaignid=9
The preview gives you access to 4 full length seminars by Jack Schwager, John Murphy, Jake Bernstein, and Ron Ianieri. All experts, all well recognized, and highly trafficked by our current members.
The best part is that you can view these free seminars anytime you want from the comfort of your own home! No more traveling and paying hundreds even thousands of dollars for trading knowledge. INO.com puts knowledge right at your fingertips!
http://www.ino.com/info/36/CD3393/&dp=0&l=0&campaignid=9
100K+ profit, 2weeks No clue how: Keep a Journal
It's true. With an account starting with 100K (demo of course), trading currencies,
I doubled the account in 2 weeks. I was gunning for 1 million in the next 6 weeks.
I was determined to be number one and win the contest.
Unfortunately, my emotions got the best of me and I started to make stupid trades. I started losing. I started to make revenge trades trying to recoup losses. The account continued down. I went from 214K down to 12K in a few days. What went wrong?
You may think my emotions got the best of me but the real reason for failure is that I did not keep a journal in which, if reviewed, I would had known what was working and what wasn't. And based on what was working I could had modify my trading plan. And most important, I would have had a reference to go back to because when my emotions had kicked in I had forgot what I was doing right and for the life of me could not remember.
So part of your trading plan should be to keep a journal, and review it at the end of
each trading day. Below are two resources on trading journals.
Doug Hirschhorn Video on CNBC.com, The Traders Journal
Brett Steenbarger Blog article
How to Keep a Trading Journal: Trader Perspectives
I doubled the account in 2 weeks. I was gunning for 1 million in the next 6 weeks.
I was determined to be number one and win the contest.
Unfortunately, my emotions got the best of me and I started to make stupid trades. I started losing. I started to make revenge trades trying to recoup losses. The account continued down. I went from 214K down to 12K in a few days. What went wrong?
You may think my emotions got the best of me but the real reason for failure is that I did not keep a journal in which, if reviewed, I would had known what was working and what wasn't. And based on what was working I could had modify my trading plan. And most important, I would have had a reference to go back to because when my emotions had kicked in I had forgot what I was doing right and for the life of me could not remember.
So part of your trading plan should be to keep a journal, and review it at the end of
each trading day. Below are two resources on trading journals.
Doug Hirschhorn Video on CNBC.com, The Traders Journal
Brett Steenbarger Blog article
How to Keep a Trading Journal: Trader Perspectives
Monday, June 1, 2009
FXSTREET VIDEO: Low Risk Breakout Trading in Forex
Sam Seiden explains the proper way traders should trade breakouts in this FXSTREET.COM video. The goal as always is to get into low risk high probability trade. It's a very informative video. Check it out.
http://transcripts.fxstreet.com/2009/03/low-risk-breakout-trading-in-forex.html
Happy Trading
http://transcripts.fxstreet.com/2009/03/low-risk-breakout-trading-in-forex.html
Happy Trading
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