There’s no doubt about it, good trade management is a skill that can only develop through conscious practice. There’s no real short cut other than to expose yourself to the feelings and emotions you’ll go through as you put real money on the line....
I’d like to talk a bit about ‘scalping’ today. Especially since the meaning of the word has shifted somewhat in recent years. “Scalping” can sound a bit intimidating, like you need to be some kind of psychopathic mercenary to do it. And...
I’d keep doing this just for the hell of it… Even if there was nothing to ‘gain’ in the end. It’s a mental workout so satisfying when all the clues fall into place, and I get that first glimpse of clarity, that I’d probably pay to...
An email arrives from trader ‘Ian B’… And, unbeknownst to Ian, he’s actually unravelled the hidden code used when I developed my own flagship end-of-day strategy! Let me tell you how and why it happened… When you start a project you have...
Shhh! Don’t tell anyone, but I’m about to give you something very valuable. You might think it’s ‘only’ an idea. But this concept has been responsible for creating serious fortunes. And it’s particularly well suited for making new...
It’s that time of year again already… The markets wind-down, the big players jet off to sunnier climes (or to their Alpine retreats) and we’re left with what can be treacherous trading conditions. So will you be taking a well earned break over Christmas? The final...
I know metals aren’t exactly ‘of-the-moment,’ what with all this talk of Cryptocoins lighting up your inbox, but Gold headlines have been catching my eye… “Korean threat sparks Gold gains” “Gold could reach $1,400 as drums of war grow louder” “Gold bearish reversal...
Last week’s email about Crypto coins and Initial Coin Offerings (ICOs) got a few people hot under the collar… One reader is even in the process of launching his own coin and wrote in to tell me how he found my comments a bit ‘out of order.’ Here’s what he said: I read...
Back in the olden days, before iPhones and social media took over the world, the best way to chat to other traders was through internet forums. Now these forums were a bit hit and miss. Some of them were plagued with bullying and name-calling, some of them...
A question comes in from a client… “I particular love the _______ approach but find that certain important market factors are out of the ________ analysis such as Volume and Currency strength. Don’t you think these two factors somehow should be...
I was at a breakfast meeting once, and this ex-special forces guy gave a presentation on applying hardcore tactics to everyday business. One thing that really stuck in my mind – and immediately changed how I approached my trading – was the way they stay...
Today, I thought I’d walk you through a nice and simple Swing Trading technique. It’s a handy one to have in your arsenal if you can’t watch the screen because it uses the bigger timeframes… You can use it on the daily charts (handy if you like to...
If you capture a record of all your trading activities faithfully and with complete honesty it will become THE most valuable trading tool you have in your possession. Here’s why: It will let you clearly see your strengths and weaknesses at a glance. Once...
Let me remind you of the 7 Habits of Highly Incompetent Traders, we first looked at them last week: 7 Habits of Highly Incompetent Traders 1) They don’t respect the market 2) They trade for accuracy instead of consistency 3) They have unrealistic expectations 4)...
So, over the next few weeks we’re going to be looking at effective habits for traders. Any long term result in life – including successful trading – will almost certainly come from a build-up of the many small steps and actions you take along the...
Once upon a time I made myself a ‘million-pound spreadsheet’. It was a beauty to behold. I plotted a graph projecting a rapidly growing trading bank and I virtually worshiped the thing. I could probably dig it up on an old hard drive somewhere. And you...
I’ve just spent an entertaining evening teaching the evils of gambling to my two boys… At the weekend my eldest asked what a casino was. There had been something on TV about Caesar’s Palace in Las Vegas that caught his eye. And then after dinner last night we were...
I’ve just been reading about a fascinating trading experiment… It all started when Austrian financier Michael Marcovici kicked off his weird art project. He intended to show how highly paid jobs could eventually be replaced by machines but I think even he...
Liverpool’s famous waterside skyline Did you know Liverpool had one of the very first futures exchanges in the world? You probably knew that importing and exporting was a big part of the city’s success in the nineteenth century. And sadly, the slave trade played...
Remember the ‘Pyramiding’ lesson from Jesse Livermore I covered in last week’s issue? Well, it’s just about THE best way to build a long term trading position that offers huge potential profits from tiny initial risk. It’s a...
As soon a trade starts to show nice profits do you get an urge to cash-in? Today, I’m going to show you two little tricks my mentors taught that helped me overcome this problem. They’ll be useful for you to know because cutting profits short is something almost...
At the weekend I watched this film about a crazy horse race in Italy… It was recorded in Italian with English subtitles but it had me hooked from start to finish (and since I speak barely a word of Italian beyond ‘ciao’ this was quite something). Twice a year,...
“The trend is your friend (until the bend at the end)”… Have you ever heard that bit of old trading wisdom? It’s a bit tongue-in-cheek, I know. But isn’t it a thrill when you catch a reversal point in the market and watch the others...
My family all went to the Cheshire Game and Country fair yesterday. It’s the kind of place where they have gundog displays, ferret racing, and – my favourite – the falconry display. And this was particularly good timing because I did want a quick...
