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
How many trading systems do you need to try before you find the one that works? Let me tell you; the answer depends entirely on you and how you trade. Every single one of us has different characteristics that make us the person we are and these characteristics mean that we all need to trade in different ways. Sure, there will be similarities here and there but no single person is the same as another and therefore no trading system should be either.
You do get those traders who ‘copy’ other peoples systems but in time, these eventually lose too. Trading is a dynamic, constantly moving challenge and no static system will last that test.
Also, don’t forget that trading is a competitive environment and there are smarter traders than you out there out to take your money. So if you’re a trader who sits on common ‘technical indicators’ to guide your trading, then you’ll get eaten up.
Be different, be unique, be you. These posts here act as a record of sorts as to how my own trading ‘systems’ have developed over time.
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.
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…
If you’re tired of throwing what little money you have spare down the drain chasing spread betting systems that don’t work, you’ll be pleased to read that you can put an end to that nonsense for good. Right now. And I’m going to tell you how.
Have you ever felt like you were doing well with your trades? Well enough to potentially max yourself out? Did it work out for you? My guess is that it probably didn’t. Despite being aware of this in the back of my head, I’ve gone and fallen into the same trap that many of you will have already experienced in the past.
I’m sure you’ve had days like these. I’ve lost almost £500 in the last two days and I’m back to my original account deposit of £500. I’ve refined my trading rules and this afternoon I made my first trade in accordance with them. Did I make a good trade by opening a position on W.H Smith?
So it’s been an eventful couple of weeks. I deposited £500 at the end of July into my spreadbetting account with Ig Index and in the space of two weeks, managed to trade and make a profit of £470, only to trade some more and lose all the profits to take me back to my original starting amount (+/- a few quid). I think I’ve learned a little bit, and …Read More
Today is February 29th 2012 and I’ve opened a spread betting account with IG Index. I’ve deposited just £50.00 and am only trading 10p per point. I want to get a taste of how this all works before I commit any more of my money here. I’m pretty excited by how easy it’s been to set up the account and get started. I’ll stick the disclaimer in here that although …Read More