trading strategies


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I’m waiting for the Eur.Usd to go a little lower. Then I will buy and hold the Euro.Usd for a while.

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Who has read this book… Millionaire Traders?
What did you think?
Should I buy it?

traders-handbook.gif  I’m a big fan of Rob Booker, I’ve used some of his trading strategies and have had success. I came across a book of his that came out in April of 2006. I am currently reading it and wanted to post it here on forex chronicles.

The Currency Trader’s Handbook is the first published form of Rob Booker’s ebooks on currency trading. Included are money management strategies, trading systems, and a focus on how to develop the mental toughness to profit in the world’s most volatile trading environment (summary from Amazon.com).

Let me know what you think.

I’ve been learning more about the psychology of traders.  If you haven’t already checked out this website give it a try… http://www.traderinterviews.com/index.html 

Lots of great interviews from people who trade for a living.

If anyone has any ideas on great resources for forex traders or traders in general, send me a post.

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This is the trade sheet I use to trade the New York session.
It helps me organize my thoughts before entering the market.

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This book has been circulating on various websites. 

It’s titled Reminiscences of a Stock Operator and the full book is available for download.
Reminiscences of a Stock Operator is the thinly disguised biography of Jesse Livermore, a remarkable character who first started speculating in New England bucket shops at the turn of the century. Livermore, who was banned from these shady operations because of his winning ways, soon moved to Wall Street where he made and lost his fortune several times over. What makes this book so valuable are the observations about investing, speculating, and the nature of the market itself.

Here’s the link …   Scribd – Reminscences of a Stock Operator

“Everything should be made as simple as possible, but no simpler”  Albert Einstein

The more time I spend in the forex market the more I subscribe to the 10 to 15 pips trade strategy.  Greed will take down the best of us.

I’ve watched my profits increase and then erode into negative territory time and time again.  Entering a trade with too long of a profit target can obliterate a new trader’s account.  Yet with a 10 to 15 pip trade strategy I have had consistently profitable days.

Of course if there is a rally in the market, I would place a stop order to secure my profits and adjust my stops if the market moves in my favor.

What’s your trading strategy?

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