Showing posts with label Psycology. Show all posts
Showing posts with label Psycology. Show all posts
Building a trading mindset
These tips may be radical for the casual reader, but it has helped many successful traders in making their decisions in the market to trade.
The first point is to not confuse or listen to anyone. Markets for trade is also one of the tough competition. The success led to the downfall of others.
Trading is like gambling, do not show your cards, because those who are in the market did not need to put their cards for you.
This is the painful truth is that 90% of traders lose, so what is there to do for others, a win win?
The second point, no one knows better than you.
People tend to get or give advice for advice on everything and go to an expert about, mobile home or do-it-yourself crafts, but they are not competitive and tough market.
You know, or manage your risks, opportunities and benefits that are better than others to go, so that in your judgment wisely and well.
Maybe there are people who can teach you to trade and you will be education - but it ignores a large number of so-called experts who say that they can deliver success.
Everywhere there are experts who have never sell trade system to buy a new dealer, and I think it is about the rich, the truth, no one can give you success, you have to work for it and deserve it-it's an iron rule for the construction of your trading mentality.
In trading, you yourself, and you know best.
Make your own rules of trading, then you are a person who knows how to play your cards and move the work profitably for you.
People are used to a structured society, and we know what we need to be at work, so as not to drop litter in the community and to stop at a red light, but the commercial market does not have a rule that will make you better. It won a dog eat dog atmosphere, where, if you win, you have lost.
Rules apply to you, and you can do whatever you want - no one tells you what to do.
Finally, you need to know how to be firm in your decision. If you make decisions that will result in the loss can be, try not to beat yourself. Learn from, and where you do not set it as a benchmark to track your trades and the foundation for your trading mentality.
This can be a selfish approach to trade, but this is how it really looks like in the highly competitive world trading market and the best way to approach it is your brave decision to design, plan and map out your moves.
The fact is, trading mindset to be completely different from our normal day to day thinking about life and that is why so many traders lose - they can not change it.
Try to be different and make the most of this guide is helpful in mentally preparing your trading and if you can, enjoy the spectacular success of your trade.
SURE LOSS
"Who reads the same memorization going to be defeated, which would be defeated just memorize who understand, who know will still be defeated by that able to take advantage of understanding, and capable of it still going to lose by a willing and sincere to share understanding to others for the common good"
back to topic ...
this old topic, really old in my hangout in his kaskus FHI. I never make the claim of "loss is certain, a new profit possibilities" This sentence was much in use by my good friends and a few readers in some forums seem to "sue" the statement said.
I wrote again LOSS ... it must not have written a sequel .. because if the profit is certainly no events once again sue sue ... ahh ... LOSS IS SURE ... try and compare with a sentence like this .. SURE THAT LOSS ... equally composed of 3 words .. LOSS, WILL and IS ...
I write again ...
It SURE LOSS
and certainly LOSS
My statement about the loss was definitely on when we perform in the forex trading activity is primarily to give warning to my friends on there are his "Loss" .. do not believe it? ... Just try to make a new order .. gak pake have to think ... ... trus liat click on the column profit / loss minus its ... dah ... or put it this way .. it's seldom we really dapet profit within a second ... we often have to wait a few minutes .. hours .. days ... hihihhih ... plus it's new look .. what does it mean? in my eyes it means our chances to find a condition of loss is much greater than the opportunity to make a profit ...
sentence only .. "is definitely loss" ... if this is, why we plunge ourselves and our lives to the forex ... it is better to bank .. eh but the bank can go bankrupt and loss appear as well ... hihhiih ....
loss would have ... so every time we make an entry, we need to measure the 'ability' we face the loss ... how much we are able to feel a loss .. so it is not allowed, so there is the position of the MT4 eh .. its actually off .. so be on the back, the position of balance .. bla...bla.. incredible shrinking MC .. dah ..
Key of trader
The illustration above illustrates that with the right key, then Tom will be able to get into his house, could do what he wanted, taking a shower, eat, want to watch television or go to sleep though.
So it is with TRADING. To create success in this trading world, must strive to find "KEY" appropriate.
If you do not find the "Key’s, it is impossible you can be successful. You can only anxious or just guessing the contents, in such trading could "View Live" and became
part of trading itself.
The main key to success in the world of forex trading are:
1. Learn and Understand the trading terms
2. Learn and Understand why prices move
3. Learn and Understand to see patterns
4. Learning and Understanding to use the system
5. Learning and Understanding for the use of capital
6. Learning with the expert ...
The sixth key is the main capital of your success in this trading world .... look .... and see for yourself ... if successful.
Swing Trader, Day Trader and Scalper
Swing Trader
is they who decide in a way that the first trading. The Swing traders tend to hold their position until the precious days to many months. Some even hold the position until one year! Traders with this pattern tend to wait until prices are at their best position and then took aim with the opening of a number of lots and placing a large enough profit targets. Usually they open a position only on very extreme conditions where the prices are very high or very low prices according to the history of the movement in recent weeks. Because this condition does not happen very often so once they get the opportunity to pursue the targets are very large and well balanced with sufficient funds to keep the price movements because they usually specify a Stop Loss point which is also quite large. That's why the Swinger often start trading them with decent capital of about $ 3,000 for a mini trading.
The Swinger is more often used the daily time frame or 4h to determine their long-term trend. To buy and sell decisions, they usually just use graph 1h only. The point is this: when they want to find the right moment to open a position then they will open a 1D or 4H chart them. Then they determine whether a trend is happening when, in the 1D graph. If the trend indicates the situation to the uptrend then they will only seek the position of Buy and Sell positions will not open at all.
Next they will search for the right time to open a position. The trick is to wait for the graph H1 is in the same direction as the D1. This means that if D1 indicates the direction up the Swinger will wait the time when H1 is also showing up direction. Buy After that position was done. When they go then they will usually determine how much of their profit targets. Average trader with this type will pursue the target profit of more than 100 points, thus requiring several days to several weeks to achieve.
Another thing to note is the Swinger was not even hesitate to take action to counter the trend just took the opening position. For example, when the price has already reached saturated area (say overbought) then they are not afraid to take positions Sell although trend is not over. Assuming they are to save time because they mostly do not like their graphics monitor constantly. That's why they have sufficient capital to withstand large price movements so with the assumption that soon the price will go down even though at this moment is still in the rising trend.
The advantages of betting with a model like this are the first on the relatively easy analysis. Please note that the larger the time frame that we use the more easily for us to predict price movements. Conversely the smaller the time frame that is used it will be increasingly difficult for us to predict correctly movements. This is because with a smaller time frame charts are often more jagged (whipsaw) so difficult to read the main trend.
Another convenience is the psychological pressure on the side. Due to the Swinger using a fairly large time frame then they usually do not need to monitor the movement of the chart every hour or every minute. Quite simply once in a single day is not a problem. As a result they will be more psychologically comfortable and protected from market pressures in each movement. Well happier life, Is not it? And for the same reasons they were usually able to perform their daily activities in addition to trading well.
The downside ? Of course there is! The most fundamental deficiency in the betting with a pattern like this Swing is in the capital problem. You cannot do Swing trading only with authorized $ 500! Stop Loss Due worn long enough so they usually require no small amount of capital for trading. At least $ 2,000. It was already very least once. Not to mention if they are not enough to just play with a lot just for one time the opening position, which included the capital can reach several times the starting $ 4,000 and even up to tens of thousands of dollars.
The second issue in swing trading is that there are on occasion obtained. Swinger Often this cannot be opened while the trader's position other types such as Day Trader or can Scalper Profit on existing movements. The cause was an opportunity for Swinger far less than other types of traders. That's because they have to wait for prices to be at both extremes to open a position. When prices are playing on the median line (center line) then they cannot do anything but wait. A tedious job!
Day Trader
a trader with a daily model. Usually this type of trader's position will be opened and closed that day. Oldest in the range of only a few days and very rarely goes past week. That is as much as possible they will close their positions before the beginning of next week begins. So if they open a position on the Thursday before the Saturday morning they will close their positions because they do not like to wait until Monday, where patterns and trends are taking place.
Now the Day Traders usually use the time frame or 1H 4H as a determinant of long term trend. While for the execution of their daily time frame rather use 15m.
Due to the time frame and a short trading period, they were the target profit is not too large. Exist only in the range below 100 points. Most are around 30-50 points. But precisely because their profit targets are not too big so they can perform the opening position several times in one day. In fact I once met a day traders are betting on up to 13 lots in one day when he entered the initial deposit of $ 500 only! It belongs to a very active day traders.
There are many benefits to be gained when people do day traders. This is primarily done on the initial deposit. A day traders can start only with a capital of $ 1,000 only. Even some who have advanced trading is able to develop funds to hundreds of percent in recent months from when they start only at $ 500 only. Nevertheless it is not advisable to start trading with a capital of only $ 500 because the magnitude of risk that might occur if you are a beginner. How else do not be fooled capital. Do you agree with the teacher of children?
Another benefit when you make trades with the pattern day traders are the many opportunities that can be taken. Due to the profit objective being pursued is not more than 100 points, this opportunity could arise almost every day in different types of major currency pairs. If you are clever enough, when prices are in the wave up or down, a day trader is able to get profit from there. The day traders will not think much about long-term trends like a Swinger. This is due to their trading is today. By looking at the movement today then that is market conditions that could be taken. That's why they use the time frame is relatively short as 15m or 10M.
Shortfall in trading with this pattern of course there is. If there are advantages to a Swinger on the ease of controlling the position, this would become an obstacle a day traders. A day trader must be strong enough to monitor the price movement several times each day. If not so they could lose their chance in the opening position. This in impact on the possibility of a day traders experiencing psychological distress resulting from price changes in seconds into the second. You who have never opened a real account or real account is running out I mean. On a real account, psychological point plays a very important far beyond any pressure.
Another deficiency is in excess of a day traders is the degree of its activity. The more active a person to open a position also taken the risk will be greater. So instead of a profit, a day traders who are not adept at reading the charts often experienced loss in large enough quantities in a short time.
Scalper
Scalping is of English origin (Scalp), which means it is fleas. Now trading with the type of scalping is more or less adopts this. Without demeaning the Scalper mean the world, they often take advantage of the situation very small price movements, and have no meaning for a Swinger. For them, the advantage is 10-15 points a day is important enough stability.
The point is this: By taking the advantage that small, the Scalper view that it is much easier than chasing gains 100 points in a single trading. Often they also take the number of lots that much more for a one-time opening position compared to most traders. If the capital of $ 2,000 a Swinger opened the lot just as much as two lots in a single transaction, the Scalper can open the position up to five times that number! What if there a margin call? Well the point was for them a margin call is a Stop Loss point them! But on the contrary when the profit amounted to 10 points they get, just imagine 10 x 5 = 50 lots. Just not with a day trader? But this time is much easier because only after 10 points only. Not to mention the profit target due to only 10 points, they can open a position many times to tens of times in one day. Hmm ... how active they are!
A scalper typically using 1H and 5M time frame in their trading. 1H useful to determine the major trend is happening while the 5M is used as a determinant of execution.
O yes, for a scalper, spread a very important role for them. The scalper is often times find a broker with a very small spreads. The smaller the better for them because the only difference between 1-2 points is very important.
The advantages of trading with a model like this is easy We get the profit that we pursue. The movement of 10 points can be achieved even when the market is very, very quiet and London and New york stock exchange was closed! Activeness. We must also open a position much larger than a Day Trader moreover Swinger. Capital which is included also do not need very large. $ 1,000 was more than enough. Even $ 500 was not a problem.
The downside? There. The most major problem is determining the point of a Stop Loss that will be taken. With the target profit is only 10 points so if we want a balanced then SL but we also have the same size that is 10 points. But the problem is the same as the target 10 points can be achieved easily, the Stop Loss limit of 10 points no less easy.
Then how do we determine if SL for 30 points? Is not it easier to profit while the SL became much more loose? True. However 3 x your income in the only loss 1x everything is even.
Well if Scalping without SL how? It is also not less difficult. It will be much easier to achieve profit. But imagine you had to wait for days because of your position floating negative but when you take your profit is only just 10 Points! Is not that weird? We bear the risk of a Margin Call is up to the level where almost all the money we lost but the benefits that we take only 10 points! It really makes no sense.
Ok it is a variety of trading methods used by traders in the world. It should be understood here that no single trading method that has been mentioned above is better than other methods. Each method has its own success people who have tried this method for years. But there also are losing money because of it.
The key here is to find a trading method that's right for you. Try asking yourself how much time and capital you have? Are you a busy in their daily work? If yes then join the Swingers. Or if you're happy with the adventure, join the Scalpers. No problems at all. As long as it suits your personality then it would be really useful.
What should be emphasized here is the use of multiple time frame will greatly assist you in determining the current conditions in the market. One simple key in determining the time frame is: the smaller time frame will always obey the larger time frame. This is important for you to understand. If you find your H1 graph shows the opposite direction D1 down and you show up it is a good way to wait until both are unidirectional. Or if you were forced to open a position so follow the larger time frame! Because within the next few hours it will drop the price but within days the price will keep rising and rising!
Quantity or Pips ?
I agree with the results of a small quantity of large pips. Increasing the quantity of trade is synonymous with increasing risk.
For example there are two scenarios:
1. 10 times qty 100 20 pips profit without a loss so total profit = 20 000 units
2. Four times qty 10 50 pips loss and four times the profit qty 10 550 pips for a total profit = 20 000 units
Which do we choose?
If I choose the second scenario because it is more realistic to reach the second scenario than the first scenario. If the first scenario is taxable loss 20 pips then just once a loss position was difficult in 2000 units which is equivalent to the total loss of the second scenario.
In the long term adherents of a second scenario in my opinion more to survive.
Forex is the worst market
So the question now, whether we are now in the market is wrong or we're actually wrong enter market, a market in which we are against the broker was not a trader in another world, a market where liquidity that overlap (mean ane one pair will affect the entire pair existing), while the shares, such shares tumbled earth, would affect the movement of telecom stocks?
With such events in the forex to be random movements, for example: suppose that the EURUSD pair has touched Resistance strongest, form a triangle, but GBPUSD, EURUSD traders who'd sell first, not know GBPUSD traders more time to buy because they see action triangle break up a bit, and immediately increased the lead EURUSD GBPUSD also finished up, It's just a small example of where the movement of one pair is determined by some pair.
Let us compare with the stock, say Microsoft, trader always focus with charts microsoft, with its fundamental focus, when it touched Resistance chart, all microsoft stock traders around the world doing the same action that is sell. No other shares that will affect the decisions of this microsoft stock trader. So many who said that enough stock trading buy low sell high, because I'm sure profit.
Chart Analisys by Kang Gun sesion 1
"To be useful learning tonight ... I want to share a few tips on how to we can learn very effectively. The key is received intact and do not judge the first ... the point this way, accept everything that we received first round object by behaving as if something that we have received is a new thing ... even (perhaps) we already know or probably even understand it very well. "
Read more...
Comparing the two brokers
Some of us may still have thought to compare the charts from our brokers with a chart from another broker.
Look at the following picture above, left side and capture result from ikofx the right of local brokers futures international victory. Both the EUR/USD pair with a time frame M15, the candlestick different greatly. From here we may have a negative thinking X fraudulent brokers, connections slowed, and so forth. When in fact, each broker has its advantages and disadvantages of each. A true trader should be focused and consistent with his own decision. And do not want to receive lose and not greedy. Best wishes.
Train and Milling Patience
Lin Wei is the youngest college Shoulin monks in northern China. On one when a group attacked a rebel from the South Shoulin village near the university.
Because the enemy is too many, then some monks shoulin down helped drive the enemy from the village. Battle with empty hand and weapons so great, so many monks the wounded.
From the castle shoulin, Lin Wei could only watch his colleagues fighting. Lin Wei, clenching his hands and ran to retrieve war supplies such as bamboo and sword. He desperately wanted helping his friends in battle.
When the newly opened main gate, there was screaming loud Lin Wei echoed until the ear pain. It came from the teacher. He banned Lin Wei to fight, because the consideration of a case. Wei Lin pleaded with her teacher to take part in combat, but teachers said only. "At one time, when the learning is complete,
then I allow you to Lin Wei to fight. "
From the illustration above can be described as his case a "trader", to always introspection." What have I learned? or Is have enough knowledge to dive in the world in real forex trading this?.
Traders are "high-quality", will not go into the arena if not complete "weapons". Patient to continue practicing on a demo before entering the "real". Traders do not ignore the high-quality the demo. Demo for him is a guide of success, Every transaction of the demo is "recorded", the "print" and then back "The analysis" then on "check the profitability of his strength.
It does not matter whether the trader is already "old" or "new", if not diligent to "ask", if not diligent to "analyze" primarily "to make a demo deal", refused to "different" from Most traders will be TTS or logo affixed to the sea
aka "Just into the sea."
The patience to continue to explore the world of knowledge in this forex trading
is a prerequisite for long-term success. Sometimes many which asked "How long do I must Demo Account? usually I replied "
1. Until you feel comfortable with your own trading "
2. Comfortable with the security of your equity.
3. Comfortable when you grow and Equity
4. Comfortable also "do the right thing" when your Equity reduced.
Once again, patience holds the key to successful trading in this trading world.
Forex Class
Some people open a real account without sufficient practice time just because they made a few times their profits in the demo account! We will learn later what it is
demo account and why it's important. What is clear, open a real account without
good practice with the same fighting without a gun. Suicide.
To that end, Learn Forex understand the need for an educational module appropriate and targeted to all beginners in learning forex trading. The hope is no longer beginners forex confusion and asked: "Where I have to start learning forex
Me? " Yes of course the best place for you to learn is in school. We spent nearly one third of our lives with the school. Now, if there are schools for doctors, engineers, architects, and more. If so the right school for you and I to learn forex trading Forex School yes. This school is not a name. Still generic. So
we refer to this Forex School.
Each module is designed to make ordinary people understand the concept of trading.
Starting from the macro picture of the forex investment up to the smallest detail
though. Entering the higher levels, you will be given more in-depth knowledge about the psychology of forex and more money management.
Do not disconnect your forex schools middle of the road! Stay tuned based on the sequence, do not jump around and remain consistent studied. Each class had to pass though sometimes tedious. Ok, here's our forex class division. Classes will be divided into four levels.
1. Sitting Duck
In the first level is called Sitting Duck Class. Here You will learn the basics of investing and a little common sense forex. This class is for you who are still fairly common in investment world.
About why we call the "Sitting Duck", it is because the newbie is still classified as an investor Beginners can become easy targets as well as various types of fraud
market volatility. The forex market is not suitable for the "sitting duck".
They are a class of people who see the world of investing solely about profit without knowing they're there in the area dangerous and there are 'predators who lurk'. Danger in the form of risk market and the fact that the world of investing course. Just the same as any other business that is in it there is a good person
and evil people who are looking for prospective prey.
2. Walking Lamb
The second class is called "Walking Lamb. You already can be estimated Start walking and no longer sits like a duck (the target tender). Sheep can recognize a wolf and be away from him toward safer place. But however remains a sheep sheep. A sheep that runs remain a sheep. Do not have a enough ability to avoid enemy let alone repay. Learn things that are more advanced about forex here. You've started entering the forex from a practical side and no longer mention the concept the only real basis of well known and not needed anymore when you begin actively trading.
3. Running Pig
Yup, pig run. Somewhat vulgar but most forex traders are stuck here. A pigs can run fast but difficult to turn and no agile at all in his run. Fast indeed, but do not have enough the ability to see what was happening in front of them. Likewise
Most traders behave like this. They assume the know this and that theory and the theory was proven a few times in the past, they felt they had discovered the true key of the trading the truth and then entered in real trading with blind. Market forex trader is full of graves like this.
4. Fox Hunting
Well here it is the last class of our forex journey, Not in a hurry but that does not mean timid. Brave but not remiss. Know when to come in and attack, when to exit and when to shut up and continue to lurk patiently. No idealist but realistic. Quickly changed following the market movements cleverly and make the market as their quarry. May be a dangerous game but they have been preparing all possibilities that could happen so they deserve to be called fox hunting. Not much can reach this stage, to those who speculate and gain profit from the market consistently.
LOVE OF THE HOLY GRAIL EPISODE
Actually there's the Holy Grail ga. Opinion of every trader must berbeda2. some say no and there is also saying that it is a mere fairy tale ...
For myself, I believe the holy grail if it exists. It's just my opinion, every trader's holy grail is not the same.
Every trader has his holy grail masing2.
Then how do we get the holy grail of us ....
I tried to compile kira2 absolute terms what must possess a highly profitable system ....
Okay, we start aja.
I likened this process as people falling in love.
So we call aja
"LOVE OF THE HOLY GRAIL EPISODE"
There are too many indicators or systems that have been made by traders around the world. Maybe you'll find more than 1000 existing indicators so far. All these indicators are basically made to be able to generate an optimal profit. But remember, even though all indi profitable, but not necessarily fit your trading style.
There are 5 important points which I feel is absolutely necessary to have an indicator / systems (which eventually lead to the holy grail itself)
1. Falling in love at first sight
Like I said before, the holy grail of search process is similar to the process of people falling in love. When you are confronted by a group of women in front of you, and you are required to choose, what is the reference point you first. I am sure you will say, physical. So also when You have the hundreds or even thousands of individual. You should do is see it physically. forget his name, latarbelakangnya, origin. Forget all that. Simply look at him. How, please attach it to the individual chart. Then see how it looks. Elimination of all individual who are visually looks too meticulous. Ensure your success in this process eliminates 50% of the total individual that you have.
2. "Girls" is simple kudu
Imagine you get a beautiful girl but dressed menor abis. fashionable ga, ga understood how grooming, etc.. Wow really deh ga. As with the forex. After points 1 successful then the next sayarat, individual must be as simple as possible. There is some indication that use multiple lines to determine trend direction / movement. BB for example. Avoid individual like this. If 1 line / bar / point has been able to explain everything, why we should repot2. Examples of this individual, among others, BT2 (line), signal bar (the bar), awesome (point). Lho apologize for traders who use the BB.
3. Assessment
Tahap1 and 2 we have successfully passed. we are now stepping into the exploratory phase. Usually at this stage, those who are in love will try to find information about her partner masing2 sebanyak2nya. Applications in the forex. we must know the characteristics of each individual. When individual is giving the signal buy / sell. Learn the system with sungguh2.
4. In relationship
This phase is the most important. You shall be 100% melakukannya.Tujuannya what? So you're not too far, regret in the future. Ga dating people that are always sweet. there must be a tamarind sauce - it. (nano nano times). Understand the "pair" your. There are times when he likes a sulk, pout, uring2an, etc.. I likened this by practicing on a demo account.
5. Just married
This phase of the most anticipated. Once you are confident with the "partner" you, you have been through many trials together, like the grief passed along, now time for you to "apply" it .....
siapin prince, guardian of wedlock n witnesses. Happy Very
you have found your soul mate. it was he who during this holy grail of your search. defend and hold "Plow household" you. do not let you fall asleep and then with an obsession with another. rest assured that he created for you.
I finally close this thread with the word
"HAPPY a new life"
atuh pretentious, if there are going to add / correct. welcome to the progress of joint
Losing to win
There is a great scene in the movie Havana, where Robert Redford who plays a jaded poker hustler in the waning days of the Bastista regime leans over to a friend, who wonders why he folded when he had the upper hand and says, "In poker sometimes you have to lose in order to win."
The scene is fascinating on so many levels, because it shows that often the best way to defeat your enemy is to lull him into complacency. But when it comes to trading, I would amend that statement to say, "In trading you always have to lose in order to win." The reason is that trading is a business of risk. No matter how much we want to avoid that idea it's the fundamental essence of what we do.
If you don't want to lose don't trade. Why? Because avoidance of losses will always lead to complete and total bankruptcy. Every major trading disaster, from Barrings to LTCM to Soc Gen, is nothing more than the story of someone who didn't want to lose and as result lost everything.
This week was a bit of a bumpy ride at BKT, but we righted the ship and came through with the winner in the end which we discuss in this week's video. But the lesson of the week should stay with everyone for lifetime, so I'll repeat it again if you don't want to lose, don't trade. It's as much a part of this business, as Novocaine is part of a dentistry.
Holy Book Trading
1. The market will give you money if you're disciplined.
With the discipline of your money will grow every day.
2. Swerved soon, if not ACCIDENTS.
If you are again wrong position immediately swerved right then. Opportunities are always there every day. Love your loss as soon as possible! The First Loss Loss is the best!
3. Foxes do not alter the system every day.
Many system / forex tools out there, choose one that best suits your character. But remember that no system of profit on! If you already have a winning system and today the system loss not change this again you again, I assure you this loss today, tomorrow certainly profit 3-fold.
4. Do not hope and pray.
I used to pray, prostrate to a black forehead, so that God helps me, so my expectations turned position. This prayer is useless and you will definitely LOSS!
5. The market is moving arbitrarily, he does not care about you, do not care about other people.
No matter you are rich or poor. No matter you are bad people or good people. Do beranalisa too deep, do not think too deep, just follow where the market would stay with him and 5 of these rules, then you will profit!
6. Just follow your system is not an action outside the system.
Forex is a world without rules, no government, no police, judges, no justice, if you are robbed, dijaili, insulted, slandered, or even killed and died for nothing forex help includes the Lord will not help you, just all of them arbitrarily free with his own. Then make their own rules and obey these rules you must survive!
Translate from http://onde-onde.com/learning-center/psychology-trading/32-kitab-suci-trading.html
Basic Triange Arbitrage
1.Tidak all pairs in the Triangle can be used to arbitrage trading
2. Use the following pairs, others please test yourself
- Long EUR / USD&USD/CHF-----> basket 1
- Short EUR / USD&USD/CHF-----> basket 2
- Long GBP / USD&USD / CHF
- Short GBP / USD&USD / CHF
- Long EUR / USD&GBP / USD
- Short EUR / USD&GBP / USD
How to use:
1. OP single entry Long EUR / USD&USD / CHF unison, without SL
2. as Multiply entry
3. The third pair as a 'fire brigade'
============ ========= ========= ========= =======
Tracking correlation profit trade:
- 2 pair as a whole (at entry and at exit), not
SL needs to exist, having been protected by another pair though not
perfect hedging
- Pseudo hedging, pairs should follow the trend to unity as OP OP
usual (via the indicator masing2), another pair should resist the trend (one
red, one green) --- monitor P / L its course
- Entry strategy masing2 wear indicator which is very familiar, or
wear naked chart, pairs 2 pairs in MT4 Window, there will
look,,,,, pair a ride, the second pair also increases or vice versa
- Take profit strategy:
----- One red, one green ---- P / L may be harvested green ...
----- One red, one green ---- P / L red .... leave until the P / L green
2 pair red ----- if ?======= ===
---- How to help the 2 pairs of red:
Add a third Pairs OP (taken from the correlation triangle) for
interventions so that the P / L red to green or breakeven MINIMAL
- Added advantage of individual third pair, if P / L red and are willing buru2
Breakeven or harvest
Example:
Sell 0.1 lot EUR/USD------red
Sell 0.1 lot USD/CHF------red
--- Tsmbah to 3 positions
0.1 lot buy GBP / USD
Example:
Sell 0.1 lot of EUR / USD (1.5921) green ------
0.1 lot sell EUR / CHF (0.8886-red )----
------------ ------ P / L red
a few days later, plus 2 pair for Rescue
Sell 0.1 lot of EUR / USD (1.5468)
0.1 lot sell EUR / CHF (1.0528)
------- Total P / L will be green
Excerpted from Live Webinar: Correlation trading
PS. It's just dasar2 correlation trading to hunt and Pip
help position the 'sick'
Pair Correlation Tables List
> AUDCAD CADJPY AUDJPY
> AUDCAD EURCAD EURAUD
> AUDCAD GBPCAD GBPAUD
> AUDCAD AUDUSD USDCAD
> AUDCHF CHFJPY AUDJPY
> AUDCHF EURCHF EURAUD
> AUDCHF GBPCHF GBPAUD
> AUDCHF USDCHF AUDUSD
> AUDJPY CADJPY AUDCAD
> AUDJPY CHFJPY AUDCHF
> AUDJPY EURJPY EURAUD
> AUDJPY GBPJPY GBPAUD
> NZDJPY AUDJPY AUDNZD
> AUDJPY USDJPY AUDUSD
> EURNZD AUDNZD EURAUD
> AUDNZD GBPNZD GBPAUD
> AUDNZD NZDUSD AUDUSD
> EURUSD AUDUSD EURAUD
> GBPAUD GBPUSD AUDUSD
> AUDUSD USDCAD AUDCAD
> AUDCHF USDCHF AUDUSD
> USDJPY AUDUSD AUDJPY
> CADJPY AUDJPY AUDCAD
> CADJPY EURJPY EURCAD
> CADJPY GBPJPY GBPCAD
> CADJPY USDJPY USDCAD
> CHFJPY AUDJPY AUDCHF
> CHFJPY EURCHF EURJPY
> CHFJPY GBPJPY GBPCHF
> EURAUD AUDCAD EURCAD
> EURAUD AUDCHF EURCHF
> EURAUD AUDJPY EURJPY
> AUDNZD EURAUD EURNZD
> EURAUD EURUSD AUDUSD
> EURAUD GBPAUD EURGBP
> EURCAD AUDCAD EURAUD
> EURCAD CADJPY EURJPY
> EURCAD GBPCAD EURCAD
> EURCAD USDCAD EURUSD
> EURCHF AUDCHF EURAUD
> CHFJPY EURCHF EURJPY
> GBPCHF EURCHF EURGBP
> EURUSD USDCHF EURCHF
> EURGBP GBPAUD EURAUD
> EURGBP GBPCAD EURCAD
> GBPCHF EURGBP EURCHF
> EURGBP EURJPY GBPJPY
> EURGBP GBPNZD EURNZD
> EURUSD GBPUSD EURGBP
> EURJPY AUDJPY EURAUD
> EURJPY CADJPY EURCAD
> CHFJPY EURCHF EURJPY
> EURJPY GBPJPY EURGBP
> EURJPY NZDJPY EURNZD
> EURUSD USDJPY EURJPY
> EURNZD AUDNZD EURAUD
> EURNZD GBPNZD EURGBP
> EURNZD NZDJPY EURJPY
> EURNZD NZDUSD EURUSD
> EURUSD AUDUSD EURAUD
> EURUSD GBPUSD GBPUSD
> EURUSD NZDUSD EURNZD
> EURUSD USDCAD EURCAD
> EURUSD USDCHF EURCHF
> EURUSD USDDKK EURDKK
> EURUSD USDJPY EURJPY
> EURUSD USDNOK EURNOK
> EURUSD USDSEK EURSEK
> GBPAUD AUDCAD GBPCAD
> GBPAUD AUDCHF GBPCHF
> GBPAUD AUDJPY GBPJPY
> GBPAUD AUDNZD GBPNZD
> GBPAUD GBPUSD AUDUSD
> GBPAUD EURAUD EURGBP
> GBPCAD AUDCAD GBPAUD
> GBPCAD CADJPY GBPJPY
> GBPCAD EURCAD EURGBP
> GBPCAD USDCAD GBPUSD
> GBPCHF AUDCHF GBPAUD
> GBPCHF CHFJPY GBPCHF
> GBPCHF EURCHF EURGBP
> GBPCHF USDCHF GBPUSD
> GBPJPY AUDJPY GBPAUD
> GBPJPY CADJPY GBPCAD
> GBPJPY GBPCHF CHFJPY
> EURJPY GBPJPY EURGBP
> GBPJPY NZDJPY GBPNZD
> GBPJPY GBPUSD USDJPY
> GBPNZD AUDNZD GBPAUD
> GBPNZD EURNZD EURGBP
> GBPNZD NZDJPY GBPJPY
> GBPNZD NZDUSD GBPUSD
> GBPUSD AUDUSD GBPAUD
> EURUSD GBPUSD EURGBP
> GBPUSD NZDUSD GBPNZD
> GBPUSD USDCAD GBPCAD
> GBPUSD USDCHF GBPCHF
> GBPUSD USDJPY GBPJPY
> NZDJPY AUDJPY AUDNZD
> NZDJPY EURJPY EURNZD
> NZDJPY GBPJPY GBPNZD
> NZDJPY USDJPY NZDUSD
> NZDUSD AUDUSD AUDNZD
> NZDUSD EURUSD EURNZD
> NZDUSD GBPUSD GBPNZD
> NZDUSD NZDJPY USDJPY
> AUDUSD USDCAD AUDCAD
> CADJPY USDCAD USDJPY
> EURCAD USDCAD EURUSD
> GBPCAD USDCAD GBPUSD
> AUDCHF USDCHF AUDUSD
> CHFJPY USDCHF USDCHF
> EURUSD USDCHF EURCHF
> GBPCHF USDCHF GBPUSD
> USDDKK EURDKK EURUSD
> USDJPY AUDUSD AUDJPY
> CADJPY USDJPY USDCAD
> CHFJPY USDJPY USDCHF
> USDJPY EURJPY EURUSD
> USDJPY GBPJPY GBPUSD
> USDJPY NZDUSD NZDJPY
> USDNOK EURNOK EURUSD
> USDSEK EURSEK EURUSD
Attribution and Bias Among Traders
Much of how we process the world consists of attributions: qualities that we attribute to ourselves and explanations that we attribute to events. As human beings, we are driven to make sense of our world, and attributions are an important element of that sense-making.
One of the most basic attributions traders make is to their gains or losses. Are profits and drawdowns attributable to the self; the result of positive or negative actions that we take? Alternatively, do we attribute gains and losses to outside forces or to sheer chance? How we attribute the outcomes of our trading performances will necessarily play a large role in what we do about those performances. If, for instance, we tend to attribute gains to the self, but losses to bad luck, we might stick with faulty trade ideas, exacerbating initial losses.
In point of fact, research finds that people are reliably biased in their attributions, a situation that cannot help but affect traders. Football fans, for instance, tend to attribute their team's successes to skill, but their opponent's victories to luck. When CEOs successfully complete acquisitions and attribute the success to their own skill, they tend to become overconfident and make further acquisitions--which then realize lower returns. CEOs also tend to be paid more money when the share price for their firms increase, as boards (falsely) attribute the price move to the executive's skill. This, too, is reliably associated with subsequent CEO underperformance.
It is when we indulge in self-serving attributional biases, however, that trading results are put most at jeopardy. Social psychologists refer to the "fundamental attribution error", which is the tendency to over-emphasize personality-based explanations for other people's behaviors and minimize situational influences. When we're subject to the "actor-observer bias", we tend to attribute our own outcomes to situational forces, rather than to fundamental personality traits.
How does this affect traders? Traders with a self-serving bias tend to give themselves too much credit when trades go their way and rationalize situations that lose money. As a result, they are likely to become overconfident after a string of winning trades, raise their trading size/frequency, and place themselves at risk.
Indeed, a consistent predictor of trader failure in my own experience is the tendency to attribute losses to a shadowy "them": the large traders and institutions that supposedly manipulate the markets. In years of working with traders, I have never seen one succeed over the long haul who reliably blamed outside forces for losses. Those traders, in fact, are subject to considerable anger and frustration, which leads them to become impulsive--the well-known phenomenon of "revenge trading".
Reason dictates that there is a difference between a good trade (one placed with an edge in one's favor) and a winning trade (one that makes money), just as there is a difference between a bad trade (one that lacks an objective, positive set of expectations) and a trade that loses money. Sheer chance alone can create situations in which good trades lose money and bad ones happen to get lucky. The self-serving trader who overemphasizes the role of chance in losses creates a situation in which learning from experience becomes impossible.
But there is another kind of trader--one with an overinclusive attributional style--that tends to own losses and gains with equal fervor. By minimizing the role of chance, the trader attributes all outcomes to the self, feeling good when the profits are rolling in and becoming discouraged during (inevitable) periods of drawdown. This is the "illusion of control" documented in the research of a London Business School research team, who found that traders who thought they could predict markets shown to them (which were actually random price series) performed worse than less confident traders. The result is that you can reliably track traders' moods by their P/L statements.
Traders tend to blame their losses on such factors as "loss of discipline" and "overtrading" when, in fact, these are frequently the results of attributional biases. The majority of traders spend more time trying to understand market movements than trying to understand their own thinking about markets. An interesting line of research finds that individuals who experience increased emotion tend to shift their attributional styles, reducing their tendency to own negative outcomes. Successful traders not only need to be able to think about markets, but also think about their thinking. Awareness of a tendency toward bias can be a powerful antidote to biased decision-making.
Brett N. Steenbarger, Ph.D.
www.brettsteenbarger.com
Assessing Your Personal Strengths: What They Mean for Trading
It's only been fairly recently--with the rise of "positive psychology"--that research has taken a hard look at strengths and subjective well-being. One excellent compilation of this research is the large text "Character Strengths and Virtues" by Christopher Peterson and Martin E. P. Seligman. It is an attempt to pull together everything we know about such qualities as wisdom, courage, love, kindness, justice, leadership, modesty, optimism, spirituality, and much more.
Another effort to study strengths are the Values in Action questionnaires that evaluate 24 positive personal qualities. (Interested readers can register on the research site and take the questionnaires for themselves).
My experience is that many trading problems occur, not because of traders' weaknesses, but because their strengths do not align properly with their trading. In an upcoming post, I will update the Trading Coach project and illustrate this concept. Interestingly, very few trading coaches/psychologists seem to spend a great deal of time assessing specific trading and personal strengths. The assumption seems to be that, if you address a weakness, you'll then succeed.
The opposite approach is that, if you build strengths, you can work around your shortcomings.
Let's try a little exercise. Below is a list of strengths from the VIA survey. Identify what you consider to be your five greatest strengths from this list and jot them down:
creativity, curiosity, open-mindedness, love of learning, wisdom, bravery, persistence, integrity, vitality, love, kindness, social intelligence, citizenship, fairness, leadership, forgiveness, modesty, prudence, self-control, appreciation of beauty, gratitude, optimism, humor, spirituality
Once you've written down what you believe to be your five greatest strengths, now--next to each of these strengths--write down how you specifically employ that strength in your day to day trading.
What I find is that, sometimes, how a trader is trading does not make concrete use of his or her greatest strengths. As a result, the trader is pulled two ways: toward what he or she "should" do according to the chosen trading style and toward what comes most naturally as a personal interest and strength. This is not a problem with discipline per se; it is a problem of a lack of fit between trading approach and personal competencies.
It is not necessary for trading to actively engage all your strengths. If many of your top strengths are not regularly utilized in your trading, however, two consequences are likely to result: a) you will not be as successful as you could otherwise be; and b) you will likely find trading less than fully satisfying and will not sustain the motivation to develop yourself fully.
In our Trading Coach project, Trader C. is running into some difficulties that have reduced his profitability. As we shall shortly see, it is his strengths that are getting in his way. In an upcoming post, I'll show what we're doing to remedy that situation.
Brett N. Steenbarger, Ph.D.
www.brettsteenbarger.com
Automated Trading
Are you a disciplined individual? According to expert Forex traders, the only ones who succeed in the Forex market are those people who stay disciplined despite their success or failure. Automated Forex trading has changed the way traders make their transactions. If you’re a savvy Forex trader, you can definitely benefit from using these automated systems.
There are simple trading systems offered online which can yield higher returns when used properly and consistently. The simpler the automated trading system, the easier it is to use; you see, complicated systems do not guarantee success at all times so be very careful when choosing the appropriate Forex system.
For example, if you think that a certain currency is going to maintain four weeks high standing, buy it. If you have a low-standing currency, you can sell it before the price goes down further. This system is also called breakout wherein all your moves within the Forex market is based on the highs and lows. Soon, you will be able to penetrate the market’s big trends.
Big trends usually last for several weeks, months, or even years. Take a look at the Forex chart and study it. The whole system is automatic and the rules are quite objective. This system is also known as a Forex robot and it can operate fifteen minutes everyday. The creator of this Forex robot was Richard Donchian, a Forex trader.
If you want a simple system, the Forex robot may work for you. Traders who prefer complex trading systems often expect more from this system and so they would rather opt for another system which can meet their expectations. The Forex robot is not fussy and it can help you in identifying the top picks and the bottom picks.
Successful Forex traders spend enough time and effort to make informed trading decisions. As a wise trader, you should not rush things. Allow the system to work. Don’t believe in the myth that complex and expensive systems are more efficient. If you’re serious in Forex trading, you can earn lots of profits with minimal effort.
Observe today’s market trends. If you think that the Forex robot will work for you, considering the existing trends in the Forex market, you can use it because it is logical, very simple, and continuously works. the automated trading system can be obtained for free online just case you want to see how it works. If you think that the Forex robot is another junk like all other systems, check its background. Try to review ratings and testimonials to find out more about this excellent and efficient system.
The modern world is very different from that of long ago. Many of today’s basic tasks are now handled automatically. If you want an automated Forex system, you can make use of the Forex robot. Hurry and look for this system online; if you want, you can also check Richard Donchian to find more info about it. You will greatly benefit from this system over the long run. Don’t overexert yourself in studying the Forex market because with the aid of the automated system, you can go a long way.
Pricing Psychology
Pricing Psychology is what I mean and I created as follows:
1. Price movement known address
2. Price movements Always Returning
3. Price Movements and treatment
Explanation:
1. Price movement known address
Example: I want to go to college or into the office, I know exactly the address, at least where building what is on the road or close to anything. I know exactly and can imagine the location where. or you are always in this forum, you will know the address of this web site, you memorized it and could see the contents of reply was in it (the forum),
Like the forex or reply like, the ability to know where the price of a trend and the area-the area must be known and immediately had to know in 1 minute, too. Address here is the image that was outlined in a day, or within a week etc.. I know exactly when this hour prices will fall / rise since ..... and because .... (address unclear).
I know exactly GBP / USD on Friday January 11, 2008 date that has the address: 1.9567 Buy Local or Higher or I will sell below 1.9550 below, if all indicators were above 1.9567 and shows that, in my head I remember the reply is buy time. .....,
Indicators will be working to address-given, if the address is clear, for example if you want to work or college, what indicators you use reply (motorcycle, car or plane?), If you feel comfortable with the bike with a comfortable consideration please and see , what has the ability to lead us to address existing dibayangan reply?
The ability to formulate image / address of price movements also provided:
1. Can Fibonanci
2. Able to Eliot Wave
3. Able to Linear Regression
I chose number 3, because I deepen to number one and I did not choose 2. (The third is to map the elements of reply and the address is recognized in accordance with the Human Element).
The principle is there a shadow / address before you go trading?
Number 2 and 3 for the psychology of price and I'll continue, thanks
Lesson. 2
Before I explain further, I was a trader with a choice of Base Technical characteristics, Psychology Price I point out the difference with market psychology, I do not describe a causal relationship. I continue my definition of price psychology.
2. Price movements Always Returning,
During my trading, I never find any thing unusual in the price movement, always Up or Down.
Example: Activities in this world all the repetition or repetitive, I went to finally go home, I'm tired of doing the activities I rest and sleep, after eating like I used to drink. In reflection you have to do something to repeat.
Once I got to know the address / shadow from price movements in one day, what to do is to know shape of the events of the price movement, I do exploration in a variety of objective indicators of just one: congratulations to the purpose of the reply address was given.
From my experience trading, I always use one of the indicators used as the lives of my trading system, and I will combine with a variety of other indicators in order to function properly reading the price movement ALWAYS repeats.
I memorized sample picture of the price movement was down
I memorized sample picture of price movements are up
I memorized sample picture of price movements when TRUE POWER rises
I memorized sample picture of price movements when TRUE POWER down
I do not feel FEAR due to price movements of a sudden,
because I memorized correctly EXAMPLE IMAGE OF A REPEAT
What I FEAR is: DO NOT DO WHAT WHEN THE TIME AND WHAT IS AVAILABLE AND THE IMAGE OF A REPEAT pattern.
The question of psychology to this 2 Price: HOW EFFECTIVE AND EFFICIENT READING INDICATORS FOR YOU REPEAT THIS PATTERN, AND HOW TO FORM YOUR memorized YOU WAKE UP TO READ PATTERN REPEAT.
Lesson. 3
My final paper is price movement and treated.
If you already know the address, if you already know the habits of a repetition of the last is the certainty of set up both.
I mean here the certainty that well-habit and it will happen, if the trading I usually call it the Sure Point.
Sure Point can I match the Sure win .......
Example: When I went to Jakarta, and did not want to stuck in traffic on my mind so dalan a repetition is my street at 5 am, when the repetition on the train then I'll take the train at 6:10 that direct Express Bogor-Jakarta, considerations: no too many power failures, train well and could reach the minimum Jakarta gambir 1jam within 20 minutes, it means I get to goal quickly without too many distractions.
If repetition alone drive, if my way is my 5-hour minimum must be less than at 6:30 in the morning to get to the door TOL Jakarta, with consideration before 6 am, I am still not able to beat the traffic and speed up go to Jakarta and objectives without too many distractions.
From the example above, when trading was, I was just looking for a form of repetition that can be produced with certainty. Traffic can cost hustle and bustle, but there was at one time can be found and gives us a good profitable.
Not much trading done, the existing entry when there is certainty. Sure Point / sure win not too hard to find, the hard part is some doubt when it comes certainty, whether this be true trend up, whether this is a trend down.
Master the Psychology of Human first, it's human psychology including how to trade, money management, risk capital, How to create system .... etc.
But do not be too long to dwell in it ........ love of money and time will eventually be discarded reply ...
Melly Goeslow songs and ordinary stars Not good later in the hearing ....
Don't Want ..... Party a start, since you like that ........
How To Get What You Want When Trading
Metatrader, Power in trading is a fascinating and often misunderstood concept. In general, it involves the capacity to cause something to happen, and effect change. Market movers are able to exert power in the marketplace, but so can individual traders. Individual traders can couple their moves to the power of those able to move prices. However, people often misunderstand and mistake force with power.
It’s Not About the Fight
Many people assume that to accomplish anything meaningful requires going into battle; often, traders approach trading in this manner. In other words, they think trading demands force. It is true that force when attempting change in oneself can work for a time, and in fact work quite well. But force creates counter force and then locks in when these two forces collide. For individuals, counter-force is the stubborn side of the personality that wants what it wants when it wants it and isn’t happy about not getting its way. The problem is that outcomes based on force never leave people satisfied, even if they win due to the high emotional costs that come with the win.
The Opposite of Force
On the other hand, power is quite the opposite of force. Force is aggressive… power is creative and uses vision. Force focuses on the ends justifying the means. Power actually occurs in a process over a series of moments, all of which work in a constructive and unified fashion toward the goal.
At the core of personal power is self-trust. You must believe in yourself, your vision and your intentions, believing you can make something happen.
A critical piece in cultivating your power in the markets is developing your integrity. The only time a person actually feels deep satisfaction and peace is when the heart, head and actions all line up. This applies to all areas where you don’t honor your word to yourself — cheating on your trading plan, thinking one thing but saying another, failing to pull the trigger on a trade when you know you should — all create a deficit with yourself and your confidence. Even if you don’t keep your word to yourself, even if no one knows it, you emotionally punish yourself and diminish your own power.
The key to creating power is to put yourself into alignment, and conversely not allow yourself to be out of alignment by making excuses for what you did even when you know it was wrong. Examples include justifying cheating on your trading plan, blaming everyone and everything for your bad trades, and settling for a trade you know you shouldn’t take, but you take anyway because you don’t like not taking some sort of action in the market.
When you give up your mind’s right to explain or feel bad you find yourself in the very powerful place of choosing what you did. No more victim. No more excuses. Your actions are your choice.
Addressing Fear
Often fear of failure stops people from developing their power. This is not to imply that having power means you have no fear. With power you take action in spite of fear because you trust that action, belief or behavior is right for you. You still might fail — but that’s okay. Life is full of failures. At least you failed in a powerful way — doing what you chose to do. Anyone who has given their all to something, holding nothing back, knows that feeling that even if you don’t get what you want — there’s little better than knowing you gave 100%.
Having the freedom to choose, and the personal power associated with it is extremely freeing and allows people to enjoy a “lightness of being.”
To establish personal power or strengthen yours, do the following:
· On separate sheets of paper, write all the important areas of your life including health, body, relationships, your marriage and family, your work as a trader and your finances.
· Evaluate in each area what you really want for yourself and what standards you want to meet. Be creative here — carefully locate what has true meaning for you and would be most fulfilling.
· With your lists in hand, determine where you are coming up short. What are you doing that undermines your intentions and dreams? What are you lying about, hiding and protecting? Examine anything that is stopping you — in even one area — because that behavior seeps into other parts of your life. If you feel that having great health is mandatory for you but you regularly eat fast food, that behavior counters your personal standards and consequently undermines trust in yourself in general.
· Starting with one or at most two areas, think through changes you can make that will bring your dreams and intentions into reality. Pay close attention to where you get stopped and why — understanding a pattern in one area will increase awareness and insight in others and indicate where you need to do work.
· Forget making excuses. Be aware that your mind will make excuses for everything because that is just what the mind does. But excuses are power killers and should be put aside.
· Go for something you’d be so proud of — and risk failing. This has you committed to winning, and going for it fully, with everything you’ve got.
While developing your personal power, also consciously watch where you are being “forceful.” Watch what you do — and watch the consequences of that behavior. Over time, you will see how unsatisfying, hurtful and ineffective forcefulness is. In the places you notice you’re forcing, be creative at identifying a different way to reach your goal; that keeps everybody’s dignity intact.
Remember, too, that nothing is fixed. You are free to change direction in your life as a trader any time you find another path that might work better because you design your life. And it’s personal power that enables your efforts.
Metatrader source : http://www.traderslog.com
Three ways to manage risk
This article is taken from the Trader's Journal magazine (April 2009 issue)
The author, Sam Seiden, brings over 15 years experience of equities, Forex, options, and futures trading that began when he was on the floor of the Chicago Mercantile Exchange. He has traded equities, futures, interest rate markets, Forex, options, and commodities for his personal interests for years and has educated hundreds of traders and investors through seminars and daily advisory services both domestically and internationally. Sam has been involved in the markets since 1991 both on and off the floor of the Chicago Mercantile Exchange. He has served as the Director of Technical Research for two trading firms and regularly contributes articles to industry publications. Sam is known for his trading, technical research, and educational guidance.
- One certainty in trading is that losses will occur. Sam Seiden looks at effective ways to manage the risk in trading to enjoy a long and successful career.
Source article: http://www.fxstreet.com
