One of the biggest mistakes new commodity traders make is failing to take a loss. Often, one or two big losses will destroy an account.
Top 10 trading mistakes | Futures
If you can keep your losses small, you will be far ahead of most new traders. Recording every trade you make and the reasons why you entered and exited the trade is one of the best educational tools you can use. Over time, you will learn which strategies work best and under what conditions.
Keep track of the profit or loss on each trade. I like to print out a chart of each trade that shows where I entered and exited. Over time, you will begin to see patterns of how the markets work and how you can improve your trading strategies. A trading plan is like a roadmap that tells you where you need to go and how you will get there.
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Markets to trade First, decide which commodity markets you are going to trade. Account size There are a couple schools of thought here. Trading strategies This is where many unsuccessful traders go wrong. Controlling Risk You should know what your risk is on every trade before it is entered. Keeping Records Recording every trade you make and the reasons why you entered and exited the trade is one of the best educational tools you can use.
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Lean Hogs Right on Track. Gold Has Some Challenges to Overcome. Get A Copy. Hardcover , pages. Published December 17th by Wiley first published November 29th More Details Other Editions 5.
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The Trend Following Bible: How Professional Traders Compound Wealth and Manage Risk
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Book Review: The Trend Following Bible
Rating details. Sort order. Jun 07, Benedict Bleimschein rated it liked it. Interesting ideas and good examples but far too repetitive. What I really like about the book is, that the downside of trend following is explained. Other authors focus too much on the positive side, that is definitely not the case here. There are no discussion topics on this book yet.
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