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Don Jerzzy's TIGBlog
Don Jerzzy's TIGBlog
How To Win Your Trades
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I received lot of mails and calls from fixed odds traders asking me what are the thing to put in place before they can become a successful trader. There is no special philosophy or Theorem behind it than to follow these simple steps. Violate them @ your own risk. This is what my trading ability relent on. I applied these rules to my trade all the time. If you too can cultivate the habit, i believe you are on your way to your financial freedom.

There are some basic tips you have to follow in order to be successful.These guidelines prevents you to succumb to the negative emotions and therefore prevent major losses.

Do your homework
Study the signal and compare multiple indicators. Decide what you are going to look for. Plan the trade. Get the direction of the trade before predicting the financial market.
Trade the plan
Once you have decided to follow a certain strategy, stick to it. If the strategy is sound and back tested, you will make money. I mean it.

Don't be greedy
Set a daily target and be realistic about it. Don't try and regain all your losses in one trade. Such attempts usually fail. If you hit your target profit, take it. Don’t be tempted with your profits.

Be patient
Every trader has losses. If you have 3 losers in a row, it is best to take the rest of the day off, as you are obviously out of tune with the markets.
Don't chase the market
If you miss a day trade that suddenly looks like a winner, do NOT panic and try to jump in late. Tomorrow is another day. If you cant meet up today’s trade, tomorrow’s trade is there for you to trade.

Capital preservation is the goal
Capital takes time to accumulate, but it can disappear extremely fast (i mean lose all in a trade). Don't use more than 5% of your capital per trade. That means one $5 trade if you have $100 account. Only trade markets you are sufficiently capitalized for.

Violate them @ your own risk

May 15, 2008 | 5:34 PM Comments  0 comments

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