Rockwell Day Trading Blog
Sneak Peak of The International Traders Conference ONLINE!
Last fall Markus came back from Spain (yes, I was jealous), and had nothing but great things to say about the International Traders Conference he had just attended as a keynote speaker. For those of you that are not familiar with the ITC, this is an annual conference sponsored by FXstreet, featuring recognized traders and educators from around the world.
The thing that really impressed me, and set this conference apart from your “usual” trader's conference, was the personal attention and focus on LIVE market education. We were so impressed, that we decided to work with FXstreet.com to bring this event to traders around the world with ITC Online!
Day Trading Review Videos
For those of you on our Weekend Update mailing list, you've probably noticed a nice change to the weekend update. In order to take full advantage of the technology we have available to us, we are now offering video Weekend Updates to recap the trading week in our Home Study Course and Rockwell Student trading rooms.
We've received nothing but great feedback since introducing the video reviews, and I wanted to share a few tips for those of you that just can't wait to see the most recent videos.
Know When to Hold'em and When to Fold'em
I have recently been thinking about what my solid rules for exiting a trade. When should I realize a losing trade? When do I call it quits for the day? I was talking to my dad the other day about trading and told him of my new blog that I was thinking about writing. I told him the title and immediately he broke into the Kenny Rogers song of “The Gambler” so I’m sorry if that song is stuck in your head for the rest of the blog. Go on I will give you a minute to sing it…OK, lets move on!
What Type of Trader Are You?
Having worked with traders all over the world, I typically find that MOST traders fall into one of the following categories:
A) The “newbie” – Someone new to the wonderful world of trading that is mesmerized by the thought of trading electronic markets from his or her home, but has no idea how to get started or where to begin.
B) “Mr. Dangerous” - The trader that knows JUST enough to be a danger to his or her trading account, but doesn’t have enough experience, education, or discipline to trade with consistency.
C) The “Pro” – Although most traders fall into the first two categories, “The Pro” is a trader that has seen success and consistency during their trading career but often search for coaching and guidance when market conditions are difficult, or as they transition from one trading arena to other (example: trading floor to trading screen, or hedge fund trader to independent trader).