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The successful trader has an intimate understanding about the importance of emotional intelligence, i.e., managing emotional volatility through protocols, routines and habits. They focus on doing the "right" things habitually (following trading plans, rules, money management and position sizing)...

“As a trader, I prefer less trading opportunities with better probabilities, not the other way around… In the meantime, keep it simple and the losses small.”– Sam Evans Hello: Successful traders live by the rule to keep their losses small. On special occasions though and given...

FACTS ARE SACRED “Periods of drawdown occur in every strategy, accept this as fact and move on.” – Ryan Schofield “There’ no such thing as the best trading strategy. For a successful trader it’s far more important to employ different trading strategies simultaneously. There are...

“The 1980s movie "Wall Street" coined the term "greed is good." But things are different in real life. When trading the markets, if you focus only on making money, it 's very likely you will lose it all. When greed takes over, traders make huge mistakes, such as betting everything in one...

YOUR MINDSET MATTERS "Are you trading to learn or are you trading to earn? …Having goals based around financial outcomes when you’re still learning the basic skills of trading can actually be counter-productive. If you have expectations of earning from trading while you’re still...

“It’s important for a trader to have a solid approach and clear setups, which he then trades consistently without giving much thought to each individual trade. Since we’ve developed and internalized these setups, we can trade consistently.” – Philipp Schroeder Hello: The...

"For me the most important thing is intuition. The markets represent an ‘intelligent chaos’ globally. This is a fantastic idea. There’s not a deliberate intelligence in the markets, it’s more of structural intelligence. I think that the only way to have good performance in the markets...

“Remember, the definition of effective trading is not solely connected to profit and loss, but to consistent execution. Profit that is not associated with a plan and follow-through of all of your rules is profit that is not helping you become a better trader.” – Dr. Woody Johnson Hello...

“To me, this is a no contest. I want to be liberated from watching the screen for hours on end on those days where the market goes nowhere. I also want to avoid psychological stresses as the market swings up and down. On good days, price moves directly to your target with barely a flicker. On...

“Self-disciplined begins with the mastery of your thoughts. If you don't control what you think, you can't control what you do. Simply, self-discipline enables you to think first and act afterward.” - Napoleon Hill Hello: Happy New Year! The Year 2011 had come and gone - gone...

“Studies have been done between random entry systems and specific systems that use entries based off of chart patterns with amazing results. The random entry system typically outperforms the structured entry system when it uses money management (position sizing techniques) and a strong exit...

THE BIG PICTURE “You need a clear, regular method – that’s the difference. Only then do you have a feeling for the market that helps you survive. Everything else is analogous to the spawning behavior of salmon which swim against the tide in their quest to reproduce. Only about 10%...

“Quite often it's what you choose to not do that determines the success of your trading… The winning trader is the trader who knows how to cope with uncertainty… Coping with the uncertainty of the markets is vital for enduring success in the markets. The more you can accept uncertainty and...

“Many people say or think that they are disciplined - but there is one way we can easily tell for sure. What is the profit and loss total in your account? If you ‘know a lot about trading’ and your P &L is negative or red over time, you are not a disciplined trader.” – Rick Wright...

“Many people say or think that they are disciplined - but there is one way we can easily tell for sure. What is the profit and loss total in your account? If you ‘know a lot about trading’ and your P &L is negative or red over time, you are not a disciplined trader.” – Rick Wright...

BRINGING THE USDCAD TO SUBJECTION “Nevertheless, psychologically, it's necessary that you trust your intuition. You need to evaluate what you personally know about how the markets will behave. Since history repeats itself only when it does, and conventional wisdom is right only when it is...

“…We know that in trading, regardless of how sweet a set-up appears, it’s merely a game of probabilities. So if your position doesn’t work out like you planned it to, then don’t just sit there and await the inevitable. Your first loss is always your smallest! Better to take the...

WHO’S A WINNING TRADER? "The central message is, ‘knowledge is not power. Education is not the key or the answer. In the end, the only thing that matters is what you can do under pressure. The strength of a great tree is the roots and the trunk, not the branches.’” - Ryan Litchfield...