High Probability Trading: Take the Steps to Become a Succesful Trader

by Marcel Link

Content
The Tuition of Trading
Setting Realistic Goals
Leveling the Playing Field
Trading the News
Increasing your Chances with Multiple Time Frames
Trading with the Trend
Using Oscillators
Breakout and Reversals
Exits and Stops
Making the High Prabability Trade
The Trading Plan & Game plan
System Trading
A Little about Backtesting
Employing a Money Management Plan
Setting Risk Parameters and Making a Money Management Plan
Discipline: The Key to Success
The Dangers of Overtrading
The Innerside of Trading: Keeping a Clear Mind

A Trader who has a Good Chance at Success has the following attributes.
Is properly capitalized
Treats trading like a business
Has a low tolerance for risk
Trades only when the market provides an opportunity
Can control emotions
Has a trading plan
Has a risk management plan
Is incredibly disciplined
Is focused
Has backtested his trading methodology

A Trader who has a Good Chance at Failure has any of the following attributes.
Is under capitalized
Lack discipline
Overtrades
Does not understand the markets
Rushes into the trades
Chases the market
Is afraid of missing a move
Is stubborn and marries a position or ideas
Misinterprets news
Is always looking for home runs
Let losers get too big
Takes winners prematurely
Takes trading too lightly
Takes large risks
Has little control of his emotions