Two Percent A Day?
"Two Percent A Day" emphasize money management and style over trading tools. The market can only go up or down (or sideways). Don't make it complicated simply because it's possible to have a battery of 30 different technical indicators. With a simple trading plan errors are more easily seen and analyzed and adjustments can be made to a simple plan much more easily than to a complex one.
"Two Percent A Day" is about tactics which are also vital to trading success. If strategy is the plan, tactics are the execution. If Strategy will lead to pot of gold so tactics will deliver it to your house. The tactics of a trade often determine whether you should get right back in a trade if you are stopped out, if you trade with a stopp loss or whether you should wait for the factors that made the trade promising to you to realign themselves.
Also your psychology and attitude should be reflected in many of your codex decisions. Some traders have a naturally winning attitude. Others are self-destructive. Nothing brings out that trait faster than leveraged markets such as Forex. If you don't have a naturally winning attitude may be you can develop one, but it could be not easy. If you are self-destructive, your chances of success in the marktets are not good.
Universally successful traders are able to keep their emotions out of their trading decisions and it is not easy to do. Keep but move.
Key Concept of Trading Planning
"Two Percent A Day" point out also which indicators should have been part of the trade plan that has been created in advanced, as not every indicator signal is the same, e.g. like moving average crossovers are great because they are easy to see and will attract trades, however such crosses should not prompt you to place a trade, as it often occurs too late and will put you in the market an unfavorable risk/reward ratio and they simply do not replace the work of planning the trades.
"Two Percent a Day" will trade the most time with "Sicko Scalp Machine" (M1, M5) http://www.forexfactory.com/showthread.php?t=281532 and for medium-dated and longer investments (M30, H1, H4, Daily) with "Time Cell Trading" http://www.forexfactory.com/showthread.php?t=249257.
I wish you all the best in developing your trading and its success.
Regards
FXcube
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Forex Articles & Links:
E-Books: Books about Advanced Forex Trading, p.4, #56;
Trading Plan: An Example For a Forex Trading Plan, p.7, #92; Trading Plan For Forex - Tips For Developing A Systematic And Consistent Winning Blueprint, p.7, #93; What is a Trading Plan?, p.7, #94;
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Real Account:
Deposit: 250.-CHF, Beginning Date: 2011 Mai 11, Target: 2% a Day (10% per Week).
Result from 2011 Mai 20, Equity: 342.- CHF, Profit: 92.- CHF
(33% Profit since 2011 Mai 11), see p.5, #67, please.
Trading Plan: see #3 .
"Two Percent A Day" emphasize money management and style over trading tools. The market can only go up or down (or sideways). Don't make it complicated simply because it's possible to have a battery of 30 different technical indicators. With a simple trading plan errors are more easily seen and analyzed and adjustments can be made to a simple plan much more easily than to a complex one.
"Two Percent A Day" is about tactics which are also vital to trading success. If strategy is the plan, tactics are the execution. If Strategy will lead to pot of gold so tactics will deliver it to your house. The tactics of a trade often determine whether you should get right back in a trade if you are stopped out, if you trade with a stopp loss or whether you should wait for the factors that made the trade promising to you to realign themselves.
Also your psychology and attitude should be reflected in many of your codex decisions. Some traders have a naturally winning attitude. Others are self-destructive. Nothing brings out that trait faster than leveraged markets such as Forex. If you don't have a naturally winning attitude may be you can develop one, but it could be not easy. If you are self-destructive, your chances of success in the marktets are not good.
Universally successful traders are able to keep their emotions out of their trading decisions and it is not easy to do. Keep but move.
Key Concept of Trading Planning
"Two Percent A Day" point out also which indicators should have been part of the trade plan that has been created in advanced, as not every indicator signal is the same, e.g. like moving average crossovers are great because they are easy to see and will attract trades, however such crosses should not prompt you to place a trade, as it often occurs too late and will put you in the market an unfavorable risk/reward ratio and they simply do not replace the work of planning the trades.
"Two Percent a Day" will trade the most time with "Sicko Scalp Machine" (M1, M5) http://www.forexfactory.com/showthread.php?t=281532 and for medium-dated and longer investments (M30, H1, H4, Daily) with "Time Cell Trading" http://www.forexfactory.com/showthread.php?t=249257.
I wish you all the best in developing your trading and its success.
Regards
FXcube
---
Forex Articles & Links:
E-Books: Books about Advanced Forex Trading, p.4, #56;
Trading Plan: An Example For a Forex Trading Plan, p.7, #92; Trading Plan For Forex - Tips For Developing A Systematic And Consistent Winning Blueprint, p.7, #93; What is a Trading Plan?, p.7, #94;
---
Real Account:
Deposit: 250.-CHF, Beginning Date: 2011 Mai 11, Target: 2% a Day (10% per Week).
Result from 2011 Mai 20, Equity: 342.- CHF, Profit: 92.- CHF
(33% Profit since 2011 Mai 11), see p.5, #67, please.Trading Plan: see #3 .
