Trading Business

Improving Your Trading Results

Right now as I sit and write this article, it’s coming up to the end of 2008 and I’ll be shortly taking a well-deserved break from the markets and my website.  Of course, as an admission that I’m addicted to trading, this won’t be a total break. I have some trading books to read and…

Trader

A Trading Psychology Lesson From a Nine Year Old

I was driving in my car the other night with my twin daughters when the conversation somehow turned to what they wanted to do when they grow up. Naturally, being only nine years old, they had many ideas. There were those that I was very happy with – an astronomer, a veterinarian, a professional soccer…

Trading Process and Strategy

Tight Stops

Here’s an extract from a great email conversation with one of the YourTradingCoach readers, in which he discusses the use of tight stops: “I adopted this approach in the beginning, but got stopped out of the market so many times I started to widen them. I’ve had on too many occasions the market pull back…

Trader

Trader Fatigue Management

Fatigue management is a favorite topic of mine, due to my interest in aviation and in particular aviation safety. In military aviation, in both a training and operational environment, fatigue management is recognized as an essential function of command, in order to minimize risk and enhance operational effectiveness. The same applies to the management of…

Trading Business

The Need for Trading Rules

Question: Hi Lance, I read from another resource that in order to detach your emotion in every trade you need to have a set of written specific rules about your entry, your position size, your exit and any other possibility that might happen in that trade and you need to follow it with “marine discipline”…