Aiming for the Right Target in Trading by Walter T. Downs
Friday, August 15th, 2008When trading goes forthwith, it can be a great feeling. When trading goes wrong it can be a nightmare. Fortunes are made in a matter of weeks and lost in a condition of minutes. This pattern repeats itself as each new generation of traders hit the market. They hurl themselves out of the night like insane insects against some kind of karmic bug-light; all thought and all existence extinguished in one final cosmic “zzzzzzt”. Obviously, for a dealer to be successful he must acknowledge this pattern and then break it. This can be accomplished by asking the right questions and finding the correct answers by wise observation and logical conclusion.
This article will attempt to address one question:
“What is the difference between a sweet trader and a losing trader?”
What follows are eleven observations and conclusions that I use in my own trading to help keep me on the right oversee. You can put these ideas into table form, and use them as a template to determine the probability of a trader being successful.
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