Showing posts with the label successful-trading- methods


PRINCIPLES OF SUCCESSFUL TRADING   As we’ve discussed, trading can be a great business. However, the majority of people who trade fail to make money consistently. In this chapter, we’ll discuss trading principles that are the foundation of my trading. I urge you to read and reread this section. You must understand and apply these principles in your trading to succeed. I can’t stress this enough: The implementation of these principles in your day-to-day trading will allow you to develop emotional discipline. And only with emotional discipline can you become a successful long-term, independent trader. Trade within Your Capital In trading, everyone makes mistakes. Even the best, most experienced traders occasionally misread the market. In addition, you may do everything right on a trade, but something happens out of the blue that causes the market to reverse direction. Either occurrence—a market misread or an out-of-the-blue event—will result in a losing trade. Losing