One of the toughest times of my life – that threatened my own psychological wellbeing as well as the potential safety and security of my family – was in early 2004, when I first made the leap from part-time to full-time trading I had the required knowledge

I was driving in my car the other night with my twin daughters when the conversation somehow turned to what they wanted to do when they grow up Naturally, being only nine years old, they had many ideas

Here's an extract from a great email conversation with one of the YourTradingCoach readers, in which he discusses the use of tight stops: "I adopted this approach in the beginning, but got stopped out of the market so many times I started to widen them I've had on too many occasions the market pull back on my stops only to find that it went on to do what I thought it would

Three losses in a row are tough That’s about the most consecutive losses that novice traders are psychologically prepared to accept before they feel compelled to take action and ‘correct’ the situation

Would you like to discover a quick and simple risk management strategy that is easy to apply to any trading plan, and has the potential to vastly improve results Excellent

Despite all the hype from the internet marketers who try to sell you the latest trading ‘secrets’, the fact is there are NO secrets * Identify setups which provide the potential for lower risk and/or higher probability trades

I love it when I read forum entries from people suggesting trading strategies along the lines of: - Enter long when the RSI(14) is above 50, the stochastic (14,5,3) has crossed positive, and the Williams %R(14) is rising from the oversold area - Enter short when the RSI(14) is below 50, the stochastic (14,5,3) has crossed negative, and the Williams %R(14) is falling from the overbought area (Disclaimer: I just made up that strategy, so don’t trade it without testing it first – the fact is though – I seriously doubt it works) Look, there are many problems with calling something like this a strategy, but the one I want to discuss today is simply that each of these indicators belongs to the same class of indicator

You’ll find in many trading books, websites or courses a statement to the effect that ‘price rises because there are more buyers than sellers’, or ‘price falls because there are more sellers than buyers’ While I understand what the author is trying to say, it’s not quite correct

Well, I’ve had a frustrating week No opportunity to trade until Friday, and no opportunity to work on my website and newsletter service

One of the common email questions I get through my website relates to difficulties in sticking with stop losses Some traders don’t place one in the market at all, promising that they’ll get out when price hits a certain level