Success In Trading

Success in trading is all about consistency and to achieve that we must follow the golden rules.

These are:

1 Only take the best opportunities.

2 Always minimize risk. Taking only low risk
opportunities is part of this.

3 Use good Money Management.

4 Have the discipline to follow these rules, especially the first one. It is all too easy to get over-confident and take anything you see. You soon lose your shirt that way. “Only the best is good enough for our trading!”is a good motto to follow.
You can’t learn how to do it without doing it.

© Forex Factory

Friday, June 6, 2008

US Market Trade Zone

Trade zone one 9:00 A.M.–10:15 A.M.

Trade zone two 12:30 P.M.–1:15 P.M.

Trade zone three 2:15 P.M.–2:45 P.M.

That is not to say that I never trade outside these zones. If the market direction is very clear, I may enter the market at 8:45 A.M., but I very rarely enter between 10:15 A.M. and 12:30 P.M. or between 1:15 and 2:15 P.M. The waters are just too treacherous and I do not like throwing my money away. Also, if I am in the market at the end of a trade zone, I may hold my position, but, I keep a protective stop in place to prevent me from taking a beating if there is a sudden market shift.

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