Ever seen someone bet all his chips at a poker game, although he knows that he doesn’t have a winning hand, but he does it anyway? Some of you maybe, but most of you not. And you’re probably thinking ‘why on earth would anyone do such an irrational thing to themselves?’… Well, how about we ask ourselves the same question.
Not for the faint-hearted
A stop-loss that trails behind price. A trailing stop has been the answer to many traders’ prayers, yet it is so downplayed and overlooked you would swear it was an indicator. Well, it isn’t… This is how you actually use a trailing stop. I’ll be the first one to say I had no idea you could trail your stop behind price until about 6 months after I started learning how to trade, some of you literally just found out
To Scale In or Not to Scale In… That is The Question…
MONEY. MONEY. MONEY. That’s the game we play. Money Management is a crucial part of a trading system. Often this part of a system is over-looked and ignored but Money Management alone can be the pivot of a trader’s career from unprofitable to profitable. I don’t blame you! Money Management can be Unsexy, the veggies on your plate if you will and unfortunately for some… MOM KNOWS BEST.