Pipsychology

Don't Overtrade

Tue, 14 Jul 2009 06:00:11 -0500

Don't overtrade. Focus on the quality of each trade, not on the quantity. One of the hardest lessons for a trader to learn is not to overtrade.You will lose BIG if you continue to overtrade.

Are you a trader or gambler?

Mon, 15 Jun 2009 15:05:12 -0500

Why do you trade? Let me guess...Because you want to make a crapload of money and be able to buy anything you wish? While this is a perfectly valid reason, it will most likely lead to excessive greed and ultimately lead to your trading account's destruction.

Concentrate or Lose Money

Mon, 18 May 2009 04:55:59 -0500

You can be highly motivated to trade, have abundant capital, and a dummy-proof trading system, but if you don't apply your FULL concentration to the trade that you have on at the moment, you'll rarely make profits.

Forget that Perfect Trade

Tue, 28 Apr 2009 09:51:33 -0500

Some traders are so obsessed with trying to find the perfect trade that they end up not trading enough to come out profitable. Trading is not the line of work you want to be if you're a perfectionist.

100% Responsibility

Thu, 02 Apr 2009 11:35:20 -0500

Just like in life, as a trader, you must be the only one responsible for your own decisions and actions. You're the only one who has to live with the consequences of the decisions that you made.

Acting on Impulse

Sun, 08 Mar 2009 04:08:45 -0500

Have you ever ditched your trading plan? If not, you should read this anyway because you're most likely lying. If you have, why do you think you're so "unfaithful"?

Be Humble

Wed, 04 Feb 2009 11:32:47 -0500

Almost everybody is familiar with Muhammad Ali. He is known as one of the greatest, if not the greatest boxer ever. And while he was well known for his boxing skills, he was equally famous for his proud and showy behavior. But if Ali was a forex trader, he probably would've been knocked out quickly and had his wallet emptied...by the market.

You don't have to win every battle, just the war.

Sun, 25 Jan 2009 14:42:10 -0500

It's easy to get caught up in daily defeats. Your trading strategy isn't working. You're losing money hand over fist even though you know your system works and you're following all the rules. Forex Reviews

Run Your Own Race

Sun, 04 Jan 2009 18:10:23 -0500

Many years ago, horsemen invented blinders to keep their horses focused on their work. Blinders are pieces of leather attached to the horse's bridle that prevent them from seeing anything except what's in front of them. Without blinders, a horse can see almost completely behind itself without turning it's head and can be easily spooked by movement or objects it doesn't recognize.

Feeling Pressure? Take a Chill Pill.

Tue, 18 Nov 2008 10:03:47 -0500

You're like a deer in the headlight staring at your screens, frozen, and you don't know of what to do next. You feel the pressure to perform. You haven't made a winning trade all week.

Plan the Trade, Trade the Plan, or Else

Tue, 21 Oct 2008 00:00:20 -0500

Successful traders have rock solid discipline. They plan every one of their trades, then they simply their trade their plans. It may be tempting to trade by the seat of your pants, but if you don't develop clearly defined trading plans to follow, and follow them consistently, you'll have difficulty making consistent money as a trader.

Dealing with Life's Lessons

Tue, 07 Oct 2008 00:10:21 -0500

This week's article will be a short one while my family and I cope with the loss of a loved one, or should I say, loved thing.

Learn to like losses

Tue, 26 Aug 2008 01:15:01 -0500

As a trader you have to learn how to take losses. Period. Don't be a crybaby. Learn how to take losses.

The Clock is Ticking

Mon, 04 Aug 2008 16:19:32 -0500

Forex trading, even when done on a full-time basis, demands a lot of time and mental and physical energy. It's equivalent to a brand new job or the new "thing" you decide to spend your life doing. For some, it's your first time really exposed to this industry, let alone anything investing related. Many beginners underestimate just how much there is to learn about the markets, indicators, and economics in general. And get information overload from Day 1.

My 'C' Student Can Beat Up Your Honor Student

Mon, 21 Jul 2008 17:05:42 -0500

I can't speak for the rest of the world, but many parents in the States love bragging about and showing off their wunderkids every chance they get. I have nothing against proud parents or any child's academic, athletic or aesthetic fortunes. Bragging about your kid's perfections just gets annoying, you feel me?