Every time you make a decision, you are faced with a choice. Should you take your time to review objective information or should you trust your gut and go with your instinct? Well, according to a recent study by Rice University, you should go with your gut…
Do you have a plan for tomorrow? I don’t mean a trade or anything complex like that; I mean a simple plan. For example, it could be to wake up at 6am, have a shower, get dressed, have some breakfast, travel to work for 8.30 and steal 30 mins of flexi time – that kind of plan. If you can think of a plan, I’d like you to be part …Read More
Recently I’ve become increasingly fascinated by the idea that intuition, emotion and instinct could be the most reliable tool we have to profit from trading. I’ve read so much over the last 6 months and in almost every case, the one thing I’m constantly told not to do is to let my emotions play any part in my trading. I believe that is the biggest mistake you could ever make.
You’ve heard the saying “money makes money”, right? Well, this is true in any endeavour, not just trading, and there are examples all over society (we all know about that 1%). But how can ordinary people like you or me grow capital exponentially when we only have £500 to start?
It’s been a tough few days on the markets for me with confidence seemingly oozing out of every position I had open. I’m sure you can all imagine how close my finger has been to the close position button on all of my trades but, mostly, I somehow managed to hold on.
After the Google fiasco on Thursday, the entire US market seemed to take a dive on Friday. As a result, a few of my strongest positions reduced in value.
All gamblers think they have a system until they lose all of their money. I’m yet to find out if I fall into this category or not, but as one of my readers put it yesterday, I’m not a gambler at all, I’m a speculator. That’s why my system is different…
All of my trades opened in September have now been closed so this sounds like the perfect time to take a look back over the month and find out how much I made (or lost).
If you’re trading already, you’ll know exactly what I’m talking about here. If you’re not but you want to start, you’d better make sure you’ve got the bollocks for it because the trading demons will try to tear them off for as long as you keep at it; unless you do something about it…
An excellent end to today’s trading is welcome relief from the murky depths of hopelessness I’ve been feeling over the last week. I was starting to wonder if I really could carry on the way things were and was even advised by a fellow trader to stop trading in a live account to help ease my lows.