New to trading? We’re here to help. The 10 Commandments of Trading Commodities serve as a set of guidelines designed with novice traders in mind to help you become a better, more disciplined trader.
Buying on support and/or selling against resistance are not new concepts. Chances are you have traded on both of these ideas. But what about the times when you were wrong? What happens to the price action after you were stopped out? Was there a trading opportunity missed?
On the rugby field, if a teammate makes an error, such as “losing the ball forward,” we tell him immediately after “bad luck, next job.” It reminds him to clear his mind of the error and to ready himself for the next potential play. By increasing his awareness, he may be in a better position and better focused to make that next play.
Your trade log is your map guiding your trading by effectively evaluating your strengths and weaknesses to help you reach your goals. Your compass is your “trading framework”, something that will be covered at another time.
Why do I trade? It’s a simple question, yet the vast majority of traders have not outlined why they trade. How much time have you spent thinking about it? Have you ever written down why you trade? If you haven’t, how do you know what your true motivations are? Have you sorted out what your… Read more.
You already recognize the potential benefits of being invested in alternative assets but you need some guidance before you feel comfortable enough to put your money on the line. Follow these five steps to get on the right track.