Trading Business

Your Number One Priority… Survive the Learning Phase!

  Before you even think about strategy… Reduce the risk of single trade catastrophic failure. Stop losses are essential. If you think you can operate without them, leave my site now. Unsubscribe. Professional traders respect the risk within the market. If your platform does not allow for automatic submission of stop loss orders when your…

Trading Business

Trading a Small Account with One Contract (Part Two)

  Last week we discussed my thoughts on trading a small account with one contract. See here if you missed the article – https://yourtradingcoach.com/trading-business/trading-a-small-account-with-one-contract-part-one/ We finished up by stating the following: It doesn’t matter which management style you choose; a higher probability smaller win target (like my “part one”) or a lower probability larger win…

Trading Business

Session Management – Should We Use Daily Profit Targets or Not?

Email Question: Hey Lance, I have had argument after argument with people about whether it is the right thing to do, to have a daily/weekly profit target where you walk away. I don't think it's correct to do, as long as you can maintain focus. I tend to subscribe to Mark Douglas's way of looking…