When I was growing up, we lived on a farm. There was a creek that ran through the farm. In the summer my brother and I loved to fish that creek. He was the family expert when it came to fishing. He somehow understood which bait to use and where to find the best spot…
Any human endeavor, regardless of its complexity or magnitude, on average tends to produce better results when every possible step of its evolution is carefully planned and such plan is the basis for the execution of the task (s) at hand. This is true for most human activities. Business, war and government are usually conducted…
Trade management stands at the forefront of successful trading, where decisions made in the heat of the market can significantly impact outcomes. Recognizing the diversity in trader preferences, Live Traders offers a comprehensive array of trade management strategies discussed daily in the Live Traders Chat Room, complementing real-time trading sessions with open Profit and Loss…
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In the realm of trading education, discussions often revolve around technical chart analysis and trade management strategies. While these elements undoubtedly play crucial roles, there is an often-understated linchpin that determines a trader’s longevity and success – Money Management. This article aims to shed light on why effective money management is not only a key…
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Trading is not a venture for the faint of heart or the weak-minded; it is a serious business that demands respect and a disciplined approach. One cannot waltz into this dynamic arena thinking they are superior or more intelligent than the market itself. Such an assumption is a harbinger of a harsh lesson waiting to…
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Someone asked in a recent comment to one of my articles if I could write-up my history of becoming a professional trader. I have no doubt my path was similar to many of you. There was wasted money and big losses and most of all a stubbornness to admit I didn’t know it all and…
Embarking on the journey of trading is akin to navigating treacherous waters, where success is elusive, and the stakes are high. It’s a business that demands utmost seriousness; otherwise, the harsh reality is that you won’t last very long. While the allure of conquering the world and making millions is ever-present, the sobering truth is…
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A gratitude journal may not seem like the first tool that comes to mind when you think about trading stocks, but I’ve found that it can be an incredibly beneficial tool to use to improve your trading and life in general. Trading as we know is a high-stress and often unpredictable job, and having a…
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In the fast-paced world of trading, where split-second decisions can spell the difference between profit and loss, having a comprehensive understanding of Level II data is a non-negotiable asset. This article aims to explore the pivotal role of Level II and elucidate why it’s a critical tool for traders, especially in the context of slippage,…
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In the ever-evolving landscape of financial markets, two prominent approaches stand out: technical analysis and fundamental analysis. While both methods aim to decipher market trends and identify potential opportunities, the merits of technical analysis shine brightly when scrutinizing real-world scenarios such as the dramatic falls of General Electric (GE), the collapse of WorldCom, the tumultuous…
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