RISK SMALL AND LET YOU WIN BIG

HOW TO SET FOREX TRADING OBJECTIVES THAT KEEP YOUR RISK SMALL AND LET YOU WIN BIG“The only thing that disturbs me is poor money management.”~ Bruce KovnerIt’s far too easy to take this Forex thing casually. You can open an account with a broker in the blink of an eyelid, and in two more blinks, you can be trading Forex. But Forex is a game of skill, played by some of the most...

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WHAT IS POSITIVE EXPECTANCY?

WHAT IS POSITIVE EXPECTANCY?“The expectancy is really the amount you’ll make on the average per dollar risked. If you have a methodology that makes you 50 cents or better per dollar risked, that’s superb. Most people don’t.”~ Van TharpNote that the work below on expectancy and “R-multiples” is based on the original work of Van Tharp and is repeated here with...

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THE EXPECTANCY OF YOUR TRADING STRATEGY

HOW TO CALCULATE THE EXPECTANCY OF YOUR TRADING STRATEGYNow that you know what an R-multiple is, we can get back to calculating your expectancy. I know you may not have a system just yet, but don’t worry; just keep this formula in mind as something to come back to down the track.To calculate your expectancy, first, you add up the total R-value of your Forex trades,...

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SIMPLICITY WILL PAY YOU REWARDS

“Don’t trade until an opportunity presents itself. Knowing when to stay out of the markets is as important as knowing when to be in them.”~ Mark WeinsteinOne of the best ways to master the art of trading is to pick and choose a limited number of techniques first, and get to grips with them. Select one or two entries you like, and practice them. Be patient when...

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STALKING YOUR TRADE

ONLY THEN MOVE ON TO STALKING YOUR TRADEWait for your exact pre-planned entry criteria to be fulfilled before entering a trade, and act decisively as soon as they are. At this point, it should all be quite simple as your entry has been triggered, and you have a plan for how you are going to trade it.It is just a matter of executing accurately. Failure in this area results...

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