Adopt habits from successful traders – Parts 9&10 9. Learn how to backtest your trading system effectively [fusion_youtube id=”tcn_LEsw-EQ” alignment=”center” width=”” height=”” autoplay=”false” api_params=”&rel=0″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” css_id=””][/fusion_youtube] Backtesting means extensive testing of all aspects of a trading system over a long period of time.  Day Traders – Go back over 100,000 price periods on your […]

We are already on to component number eight to successful trading. Successful traders Part 8 – Keep accurate and detailed records of your trades. This is the eighth habit of highly successful traders.  We are going to keep it simple today.  My message today (meant with the best possible intention), is: “Keep paper/digital records of

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The key to understanding price charts is to think in terms of buyers and sellers. Let’s begin to understand what VALUE is in the context of trading – read the bigger picture in order to measure buying and selling pressure When is a good time to buy anything? When the price is low, right? When

Learn to accept losses as a cost of doing business – this is the way to manage your emotions in trading. Traders tend to get stuck in the short-term. Short-term wins giving them elation and short-term losses leaving them fearful and in despair. One of the keys to managing emotions in trading is to keep

One of the hidden challenges in trading is that in order to trade profitably you must be able to find trades where you can sensibly manage your risk (potential losses). This may seem like a dull subject to you but if you don’t manage your risk properly then you will never be profitable in the

Understand the difference between trending and ranging markets – 10 Habits of Highly Successful Traders (Part 3) Take a look at the chart above. Is the market in a trend or a trading range?  It is an uptrend, isn’t it? How do we know that it is an uptrend? The market is making higher highs and higher