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Forex Trading 101

Get a Trading Buddy: Part 2
Tue, 09 Mar 2010 12:37:23 GMT

In one of my recent articles, Spell Out Your Trading Plan and Get a Trading Buddy , I shared a story of a motivated student who was able to take Online Trading Academy teachings about options, apply them, get cash flow going, and supplement her regular annual income at first, and then eventually embark on the full-time journey of just trading for a living. In that article, on which I have received a lot of emails, I focused on the need of spelling out a trading plan and also having a Trading

Eighty Percent Waiting - Twenty Percent Trading
Tue, 09 Mar 2010 12:27:01 GMT

In today's market environment, where daily ranges continue to diminish, it's becoming more challenging for the disciplined day trader to find opportunity. Note I'm referring to a specific type of trader, that's because for the "undisciplined" trader, all types of markets are difficult. Now that's not to say that the professional trader doesn't have to overcome the daily demands of trading. However, my point here is that the more movement in a market, the more opportunity. Part of having this

Foreclosure Update and Guidelines for the Novice Auction Goer
Tue, 09 Mar 2010 12:24:18 GMT

Within the last couple of weeks, the Obama administration released its assessment of its Anti-foreclosure program. The results were minimal. Here are some of the cold hard facts: Of the approximately 1 million financially-distressed homeowners who've been given mortgage payment reductions through the three month "trial" under the HAMP (Home Affordable Modification Program), only 116,000 have ended up with permanent loan modifications. 60,000 borrowers who entered the trial payment plan were

Back To Basics, Part 2: The Definition of a Stop Loss
Tue, 09 Mar 2010 12:22:37 GMT

This week I would like to revert back to the basics of successful trading once more and thought that there would be no better subject to cover than that of the Stop Loss. I have had the privilege of working with hundreds of new Forex students from around the world via both the Online Trading Academy classroom and Extended Learning Track (XLT) experience. Each and every one of these up and coming Forex traders has received the very same message from me and that is regarding the vital importance

Outcome Thinking: Aiming for the Results You Want
Tue, 09 Mar 2010 12:18:43 GMT

What kind of results are you getting in your trading? Are you violating your rules because you have been unable to keep your commitments, which have lead to disastrous draw downs and massive losses? Well, one of the things that is important in changing this scenario is to recalibrate what you are aiming for by targeting your thoughts to outcome thinking and results orientations. Results orientation is about envisioning what you really want as if you stepped into the future and got it. This is

Patterns: Fact or Fiction?
Tue, 09 Mar 2010 12:42:18 GMT

Chart patterns are one thing that most traders learn about early in their trading careers. The problem is that they do not necessarily learn how to trade them properly. There are a plethora of books and websites dedicated to identifying and trading these patterns. The problem is that if you follow the "conventional wisdom," then you will be trading right along with the masses and risk entering late or entering into a trade that has a lower probability of success. We need to think like a

Proper Use of the CCI
Tue, 09 Mar 2010 12:25:07 GMT

While I do not use indicators or oscillators in my own trading, I do know one thing for sure - they all work. Yes, I said they all work fine and I mean it. What is needed is to define the word "work." These are all lines plotted on a chart based on different mathematical calculations depending on the indicator or oscillator. The math works fine and the lines are plotted where they should be so do they work? YES. If the definition of "working" has to do with producing profitable buy and sell

The Essentials of Documenting Your Trades: Thought Journal/Trade Journal
Tue, 02 Mar 2010 13:24:17 GMT

Documenting the data of your trading is essential to success. Also, it's of vital importance to track not only the "mechanical" data; i.e., the data of the actual trading execution (entry, targets, stops and exits); but you must track the "internal" data as well; i.e., what you are thinking, emotionally feeling, and the unconscious beliefs that are driving the T + E + B = R equation. In this equation that is involved in "all" of our outcomes, T = thought, E = emotions, B = behavior and R =

Current and Future Effects of New Demographic Trends, Part 2
Tue, 02 Mar 2010 12:36:06 GMT

In Part 2 of this series, we'll focus on the Younger Baby Boomers and part of the Echo Boomers Generation X. The Younger Baby Boomers are defined as being in their late forties and early fifties. Generation X, children of Older Baby Boomers, are in their late thirties to mid-forties. The Younger Baby Boomers are facing several issues and challenges that are very different from their parents: They might have had dreams of early retirement, however, it may be decades before they can consider

Butterfly: Part V
Tue, 02 Mar 2010 12:41:51 GMT

This newsletter is the second to last in a series of articles that have addressed, in greater detail, the option strategies known as Butterflies. Specifically, here I will present the steps involved in placing a Put Butterfly on TradeStation. As a brief recap, typically the option trader would place Butterfly spreads when they are not anticipating huge movement within a specific time frame. A regular Butterfly is essentially a combination of a debit and a credit spread. However, both types of