USING ONLY ONE TIMEFRAME FOR TRADE SELECTION As you can see, it is my opinion that psychology is vastly more important to lasting trade success than anything else.  I really believe that trader psychology is 95% or more of lasting success.  Part of what shows this clearly is how traders focus on time.  Every...

VARYING THE SIZE OF YOUR TRADES Most professional athletes can tell you when they are “in the zone”, that special place that only they know about but it leads to maximum performance.  Every one of those athletes will tell you that they got that way by strict discipline and practice.  One of the things...

TRADING TOO LARGE FOR YOUR ACCOUNT The fastest way to go broke is to bet it all, all the time.  Most traders don’t learn this lesson until they have had at least one blow-out; by that I mean they have lost all their equity quickly and have had to start over.  For some reason,...

NOT HAVING A TRADING PLAN Suppose you called your 401K manager this afternoon.  Suppose you asked him “What is your plan for the next six months?”  Suppose he told you “Oh, whatever. I just try to get on the right side and if I don’t I just get out”.  How long would that guy...