Best Forex Trading Course

Ideas to Help with Your Trading

Here is a video commodity futures trading lesson
that has some ideas that I think will definately
help you with your trading.



Thanks !
Jim Robinson :-)

http://www.profittrading.com

Could This Be The “Huge Winning Trade” You’ve Been Dreaming Of?

Mental Fitness for Futures Traders
by Norman Hallett, former CTA/Trader

It’s why we all signed up for the battle against the markets. In the beginning, we read an article or saw a sales leaflet about a guy who took his last fewdollars and parlayed it into millions in the futures markets.

It usually involveda simple secret that when revealed to you (for a few hundred dollars), you could have the same success. Most of the time, we would chuck the article/leafletinto the trash as garbage, but at some low ebb in our psyche, the article readlike the answer to our prayers. Most of us joined the fray for the “big hit”.

Whether we 1-2-3-counted with Ken Roberts, waved with Prechter, or seasonedwith Bernstein, we all soon realized that if we were going to stay in the game,we needed something more than desire and a dream… we needed a back-testedsystem that we could have confidence in. We realized that we needed to takeour emotions out of trading and look at trading like a professional… like a job.

That doesn’t mean we can’t have fun, because winning traders enjoy their jobs likeno others. So, we either adopted a guru, inspected his archives of trades (that’sback-testing, right?) and watched him/her live for a while before jumping in, or webought software to test a system we thought could work.

Our system in hand, we saddle up to the computer. We have stops to defend against losing too much in one trade and we have limits to make sure we take our profits when our system tells us to. After a mix of trades over the first few weeks, we hiton a big one.

The news confirms that we are geniuses and we are quickly headingto our profit target. In fact, we’re just ticks away. Hey, this heat wave is biggerthan anyone expected. There’s no way beans are not going to the teens! “I’ll lift my limit and keep my eye on it.” Market closes a 5 cents above the (former)profit target. “I’m getting good at this. I’m really developing a market ‘sense’.”

You decide you’ll put a stop right at your (former) profit target, so thatif the market backs off, you’ll take your profit where you were going to anyway.(OK, reader, you know what’s coming). Rain in the plains overnight. Soybeans open 26 lower. Stopped out. Your genius turned a nice winner into a nice loser. What happened? The same thing that happened when you read that originalad that got you involved in all of this… You let your emotions take over.

If you’re still trading after a few years, it either means you have very deep pockets or you’ve learned to control your emotions and take every profit yoursystem tells you to. You’re going to need them to overcome all the losses…and become the winner you know you can be.

Mental Trading Lesson

Here is a video on Mental Trading Education
http://www.youtube.com/watch?v=Rr48D_edcUM

Thanks !
Jim :-)

A Great Trading System, so Why are you losing?

The OTHER 90% - Mental Fitness for Futures Traders
by Norman Hallett, former CTA/Trader

You’ve got a great trading system. So why are you losing?

You’ve done your homework. Countless hours of seeking out the right guru (or piecing together your own system). Weeks of monitoring your guru’s daily trade picks (or paper-trading and back-testing your homemade system). You’ve done it by the book. No seat of the pants trading for you! OK, now you’re confident. It’s time to put your money where your homework is.

You’ve had your coffee and your first trade signal is before you. Confidence high. Trade made. First loss. Not a problem. You understood before you started that successful traders both win and lose and “losing is part of the overall winning”. You’ve also heard more then once that “successful traders don’t win on every trade.” Moving on, still confident. Next trade made. Another loss, but this one hurt your pride a little because you got stopped out early in the trade, and then the market rebounded and would have hit your profit target if you weren’t stopped out. You double check. Yep, you placed the stop where your trading system told you to place it. You kind of had a feeling that the early weakness in the market was just profit-taking from the previous day’s trading, but you’re trading a system and you must stick to it. Wounded, but resilient.

After a good night’s sleep and a few mouse clicks, your new daily trades are in front of you. Hey, this one looks good! It’s a little bit more risk than yesterday’s trades had, but look at that profit potential! With a smiling face, the trade is executed. With a nice start to the trade, you’re feeling good and you’ve moved your stop to breakeven, just like your system said. Surprise piece of news – market reverses – blows through your stop – an “unexpected” loss. Is something wrong with the system? Has the overall market “personality” changed, affecting your system to the Core, rendering all your back-testing irrelevant? Your confidence turns to doubt.

You decide to “watch” the next trade… I mean, isn’t it wise to make sure the system gets back on track before you “throw good money after bad?” Isn’t that what a conservative trader does? Trade watched. It wins! In your head, you beat yourself up a little because you know that when you started your “live” trading, you made an agreement with yourself to take the first 10 trades “no matter what”… and here you wimped-out and missed a big winner that would have gotten you even.

What’s happening?!!

What’s happening is that you are out of control. Your emotions are ruling your trading. The above scenario plays out in every trader from time to time.. newbee and veteran alike. The winning trader senses what is happening and nips it in the bud. The winning trader spend time EVERY DAY, working on “the discipline of trading”. Reads a chapter in his favorite psychological trading book, scans the “ten commandments of trading” that hangs on the wall over his/her desk, listens to his/her mental training software for futures traders… Something… Every Day… before trading begins.

There are many more losing traders than winning traders… and it’s seldom about the trading system. In my career, I’ve come across at least 50 systems that I consider A+, yet I know for a fact that MOST traders that have traded on these systems have lost. Why? They were not in control of their emotions. Are you?