The Golden Rule of Risk Management
Today’s Guest Blogger is frequent TV contributor, Bob Iaccino from TraderOutlook.com. Iaccino will try to take a stab at teaching us about the importance of risk management in the Forex markets.You can also see Bob’s recently released video series, charting his trading methods and successes. Make sure you comment below with any questions you have for Bob.
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Position traders are suffering a little bit, both short and long term in the Forex market right now. Even scalpers are feeling the sort of chop they haven’t felt recently because of the lack of “trend/congestion, trend/congestion” that has been the consistent general nature of the Forex markets. When the economy is in a particular phase such as recession, growth, or even depression, we’ll see the Forex markets trending. However, the direction of the trend doesn’t ultimately matter. They’ll trend for a period of time, and then they’ll pause and move sideways.
The IRREFUTABLE LAWS of the MARKET
SIX STEPS that every trader needs to know to succeed in the markets.
Step 1: A move begins with the sponsors (smart traders) who have insider knowledge as it relates to a particular stock or market. This information will move a market up or down depending on the insiders’ information. These buyers are smart, very smart, and recognize trading/investment opportunities very early in the markup cycle.
An objective method of trading in any market and any time frame
Today I’d like to welcome Lawrence Korbus, Chief Forex Educator and Professional Trader at Tsunami-Trade.com to the Trader’s Blog! Today Lawrence teaches us a little about how he enters trades and analyzes the markets. Please enjoy the article below, comment to Lawrence with your thoughts and insights, and check out Tsunami-Trade.com to see what he does!
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I was sitting as an invited “expert trader” on a panel with 4 other traders at the 2009 Las Vegas TradersExpo last week. They called the standing room only panel discussion: “Successful Strategies for Profiting from Forex Trading.”
They asked the question of all of us, “How do you make money trading the Forex markets?” The panelists said some things about using their decades of experience to get a “feel for the market”, and then they each in turn cited several different methodologies such as trading breakouts, and using proprietary sentiment and Elliott Wave analysis to come up with “an area to trade”. They were not more specific than that on how they entered trades. Although they all differed in how they entered trades, what I found most interesting that they all had one thing in common. They all said that they would scale out of the trade as the trade hopefully went in their direction.
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Saturday Success Story – Manuel, Florida
At MarketClub, our mission is to help you become a better trader. Our passion is creating superior trading tools to help you achieve your goals—no matter which way the markets move—we promise objective and unbiased recommendations not available from brokers.
Here’s great news from a member…
“I’ve been using MarketClub for several months now, and my experience has been phenomenal. After trying and choosing for some of the web-sites I’ve been using, MarketClub for me is not just different is the best.
Talking about all the services that I can find once I log in, there is plenty of things I am able to do using my tools for the traders in MarketClub. One of those tools is the Trade Triangles which gives valuable points of views on what direction the market or one of my favorite stocks is heading to. Giving an example of a good performance using the talking charts which are awesome by the way and the Trade Triangles, for me could be (QSII) Quality Sys Inc. A weekly buy signal was posted on March 10, 2009 and this stock is been moving in positive way since then for almost 50%, I believe this talks a lot of how good and comfortable I feel knowing that MarketClub is here with me to help. Thank you MarketClub.” ~ Manuel R., Florida
To send your own success story, please email blog@ino.com. We wish all of our members the best and we look forward to hearing your success story.
Be Honest With Your Answers To These Two Questions…
Today’s Guest blogger is Norman Hallett from The Disciplined Trader, and today he’s challenged us to answer two very tough questions that ALL traders should sit down and think about. They have to do with our mental approach and Norman’s one of the best at helping traders.
These are the first two questions of a 10 question quiz. If you want to see where you stand as a disciplined trader (or lack of it!) then take the whole 10-question quiz. It won’t take much time and it’s free. He’s looking forward to your answers and comments!
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The following 2 questions will conjure up different visions for each person. The idea is to relate to certain trading experiences and what actually happened in such situations-not what sounds like the best answer. Moreover, if a described situation has not yet been experienced, try to make an honest appraisal of how you would act. Again, not what sounds correct but how you think you would actually correct. Remember, being a successful trader requires continuous and almost brutal self-appraisal.
There are no “perfectly disciplined” traders. But there are many traders who come close. This quiz is meant to help you assess where you are in your quest to be The Disciplined Trader and help you to identify areas that you may want to improve upon… because the way to maximize your potential as a trader is BE The Disciplined Trader, and adhere to your tested trading plan without hesitation.
The following are the first 2 questions (and answers).
ALERT: Daily Trade Triangle Exit Signal For Spot Gold
Attention all MarketClub Members:
A daily Trade Triangle flashed an exit signal on spot gold this morning at $1,161.94
Happy Thanksgiving from the MarketClub Team
Happy Thanksgiving from Bob, Lindsay, and Melissa – all part of the MarketClub team dedicated to helping you achieve your goals.
On behalf of the MarketClub Team, we would like to extend a heartfelt ‘thank you’ for entrusting us with your business. .
Traders Toolbox: Divisions of Eight Revisited…
At MarketClub our mission is to help you become a better trader. Our passion is creating superior trading tools to help you achieve your goals — no matter which way the markets move — with objective and unbiased recommendations not available from brokers.
The Trader’s Toolbox posts are just another free resource from MarketClub.
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“Studying the writings of traders who were active in the first three or four decades of this century has often
inspired me to do additional research. This has allowed me to develop additional tools and theories. In reality, what I present in this segment will not “pure” Gann. Instead, I will present applications and approaches which I have found to be useful and successful. Hopefully, this will provide a foundation for anyone who wants to study further on his/her own.
Many of the successful traders from the first half of this century have a reputation of being almost mystical. To many, this is especially true of W.D. Gann. Trader after trader has searched for Gann’s “secret” to unlock the mysteries of the market. Many of his tools, and mine as well, are relatively simple and are not secrets. However, after delving into his writings, I have come to the conclusion that his biggest “secret” consisted of two things: HARD WORK and COMMON SENSE. Unfortunately, many would-be traders seem unwilling to do the first and lack the ability to use the latter…”
Revisit the Trader’s Toolbox Post: “Divisions of Eight” here.
The fastest, easiest way to tell the trend in the forex markets.
In today’s video I’m going to share with you a wonderful way to look at the forex markets and determine which way they are headed in a matter of seconds. We’ll be looking at three different cross rates and how they all correlate together in a way that I think may surprise you.
The forex markets are the biggest markets in the world and MarketClub not only covers all of them, but also covers them in real-time with pricing and charts. I hope you learn from this video and take the time to post your comments on our blog.
As always there is no charge and no registration to watch this educational trading video.
All the best,
Adam Hewison
President, INO.com
Co-creator, MarketClub
Tiger Woods’ Secret is really the key to your success
Filed under: MarketClub Techniques, Tips & Talk
Watching Tiger Woods play golf can be breathtaking and inspiring. Even though I am not much of a golfer for myself, I have been dazzled — along with the rest of the world — by his amazing sequence of victories and his professional approach to the game.
So powerful are Tiger’s performances that they inspired me to think beyond golf to what I do best – trading — and to the discovery of a strong connection between Tiger’s golf game and trading the markets. My discovery? Course management of golf, one of Tiger’s great hidden attributes, is no different from trade management in the markets — one of the keys to successful trading.
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