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After closing out a trade

After closing out a trade
Once you have closed your position, you should record everything about the trade. Write down where you wanted to enter the trade, what you expected out of the trade, and what you actually did get out of the trade. Make sure to include notes that will help you learn from the trade, reasoning what actually took place once you entered the trade. Explain why the trade was a winner or a loser. If you k...
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How much to risk per Trade

How much to risk per Trade
One of the questions every trader has to think about at some point is, how much of my account should I risk per trade? A percentage? If so, what percentage? I’d love to have the right answer in my pocket for you, like "exactly 1.25% per trade/market and no more than 5% at the same time," but unfortunately, I don’t. Again I know you don’t want to waste too much time with this bo...
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Jean1975
Great post. In my humble opinion carefully managing risk with a proper position sizing and shutting down quickly the losing trades... Read More
Thursday, 12 May 2016 15:48
Marco Mayer
Thanks Jean! Unfortunately posts and videos about anything related to risk-/money-management aren't the most popular ones. So I'... Read More
Friday, 13 May 2016 02:28
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New Q&A Video Online

New Q&A Video Online
I just uploaded Episode 3 of my Questions & Answers Series to YouTube. It covers questions on the usefulness of demo-trading and on trading 123 formations. In the last part I talk about why I developed my own python-based backtesting platform which is probably only interesting for those of you who're hardcore into system-development. So if you're not, just stop there ;)
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EUR/USD Update

EUR/USD Update
The last I did a post about what's going on in EUR/USD and that it's unlikely we'll see a significant move unless the pair breaks out of it's established range. Now that finally happened and the Euro is on a strong run for a few days now already. Now what to do? If you're already long, should you keep on holding the position? If you're not in the trade already, should you still buy at the market? ...
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Can I really make it as a trader?

Can I really make it as a trader?
You alone determine whether you will succeed or fail at trading. You alone are in control; take responsibility for your performance and your life. There are always tremendous opportunities in the markets. It is not what happens; it is what you do with what happens that makes the difference between profit and loss. However, you cannot marry a market or a single trading style. You have to look. Look...
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New Q&A video online

New Q&A video online
I just uploaded the second Episode of my Q&A Series to YouTube. I only managed to answer two questions this time, so I probably should be a bit briefer in the future... Topics are again disciplined trading and the lifetime of trading methods and how to decide when to stop trading them. Enjoy!
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Fear

Fear
Let’s get one thing straight. Fear, for the majority of traders is a very real thing. You have it, I have it. Others have it as well. In order to become a professional trader, you must learn to deal with fear. The first step is to acknowledge that you have fear. Once you admit to fear, you can begin to deal with it. When you notice the impulse to trade based on strong fear, it is usually best to l...
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Everybody gets what they want out of the market

Everybody gets what they want out of the market
This is one of the quotes about trading that stuck with me. I googled it and it's from Ed Seykota, I probably read it in one of the Market Wizards books, which I can highly recommend. The exact quote is “Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.” Now this applies especially well to the retail world of traders. And i...
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Recent Comments
Jean1975
Great post. I don't think that the desire of make money alone will be enough to make you a trader. I think that if you are driven ... Read More
Friday, 22 April 2016 10:55
Marco Mayer
I couldn't agree more! Now most people who come into trading think this is an easy way to make lots of money. But actually it's no... Read More
Friday, 22 April 2016 11:46
Jean1975
In my opinion the hardest aspect of the whole learning process is keeping on trading when you are a consistent loser. I think you ... Read More
Friday, 22 April 2016 12:38
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Checklist, Trading Plan, Track Record

Checklist, Trading Plan, Track Record
“ I review my checklist. It’s a handwritten sheet laminated in plastic and taped to the right-hand corner of my desk where I can’t overlook it. If you have a game plan prepared ahead of time, it can help you find courage in the heat of the battle.” - Marty Schwartz Yes, I also have a checklist and I look at it every day. On my checklist you can find reminders like “trade only clear signals, no gue...
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New YouTube Series: Marco's Trading Q&A

New YouTube Series: Marco's Trading Q&A
Hi Trader, now this has been a quite volatile week so far in many markets and I hope you've also been able to capture some nice profits out of these wild moves! Thanks to my trading being almost completely systematic right now I still had a few minutes to record a new video for YouTube and actually start of a new Series. In the first one I explain what a BID/ASK spread is for those of you who're c...
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Sometimes others get to play and you don’t. Today, Friday 04/01 was such a day!

Sometimes others get to play and you don’t. Today, Friday 04/01 was such a day!
I wrote an article with the headline "Sometimes others get to play and you don't" some time ago and today (Friday 04/01) was such a day. And I tell you, it is difficult to watch markets are going my way knowing I could have made my shares for April but I missed the trade. Well, I haven't missed the trade actually because it wasn't my train. Here comes what happened. At 7:30 AM CT this morning we h...
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Trading Enhancements – Meditation

Trading Enhancements – Meditation
As a professional trader, I try to enhance my trading on a daily basis. Learning how to trade is an ongoing process - a process that never stops. Those who know me or who have traded with me know that I am always looking for a simple and straightforward approach to trading. Yes, of course I am testing indicators, new chart patterns, new charting techniques, and anything else that is showing up on ...
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The more I know, the less I know, and the more I become confused.

The more I know, the less I know, and the more I become confused.
People have the tendency to believe that the accuracy of forecasting the markets increases with more information. This is the illusion of knowledge – that more information increases your knowledge about something and improves your decisions. However, this is not always the case – increased levels of information do not necessarily lead to greater knowledge. There are three reasons for this. First, ...
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Next in the EUR/USD and new video on why you should ignore my calls

Next in the EUR/USD and new video on why you should ignore my calls
After my last two spot-on calls on the EUR/USD, here's the next one, plus a video on why you shouldn't pay any attention to it: My feeling is that since everyone expects the EUR/USD to correct right now, it won't but will instead move up for another day or two. Again I won't trade on this, actually I'll probably be short again tomorrow... And here's the video why you shouldn't care about any marke...
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How do I become flexible in trading?

How do I become flexible in trading?
One mark of a flexible trader is he/she has a carefree attitude when it comes to executing a trade. They don’t allow themselves to get bent out of shape over a trade. They don't sit and think over and over about their strategy. They have done their homework. They’ve developed a sensible trading plan, and when the opportunities present themselves, they pull the trigger on the trade. They don't ques...
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Draghi Day - EUR/USD To trade or not to trade?

Draghi Day - EUR/USD To trade or not to trade?
Today we had the long awaited ECB press conference and Draghi did his thing by surprising traders with their decisions. This is what happened so far (13:00 NY Time) and as you can see the volatility hasn't been that high for weeks with EUR/USD moving 400 pips intraday.  So what to do on such a day where you can expect higher volatility than usual? Take trades or not? For me it's a no-brainer....
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Don't Give Up

Don't Give Up
I received the following email: Hey Joe! I’m ready to give up. When I found out that statistically most traders are losers, I wonder what chance I have of ever making it. You have every chance of making it. You are not everyone else, you are you. Statistics and those who use them may predict, but you alone determine whether you will succeed or fail. You alone are in control; take responsibility fo...
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Sometimes others get to play and you don’t.

Sometimes others get to play and you don’t.
Sometimes in softball games, as a kid, they handed out the bats and balls and gloves, and there weren’t enough to go around – so you had to sit it out. You had to sit on the bench and watch. The same thing happens in trading. Sometimes you don’t get to participate. You must get used to the idea that sometimes you will sit in front of your charts for days or weeks, and nothing at all will happen. O...
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Derivative transactions, including futures, are complex and carry a high degree of risk. They are intended for sophisticated investors and are not suitable for everyone. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect actual trading results. For more information, see the Risk Disclosure Statement for Futures and Options.