5 Steps for trading succesfully.

Below are 5 essential rules that we believe will make you a better trader.

Trend

Your first rule is to trade with the trend. You will maximize the amount of money you will earn as well as minimize the amount of losses you will take.

Resistance

You will want to buy or sell off resistance points. Not only that, resistance supports can also be used for your profit target.

Understanding Emotions

A very important rule. You must learn to understand your emotions. You must be able to think objectively about the market without getting emotionally involved.

Money Management

One of the toughest things to learn in trading. How to trade with the proper risk/reward. Without it, your profits will be eaten away.

Price Action

Trading off price action is very important. This will allow you to trade in any market condition whether its going up, down, or sideways.

May.13.11.EUR/USD Update

May 13th, 2011

Last trade failed.
Will look at the market again monday morning. We need to see where the close on the daily happens… if it continues short then we are looking at a target of around 4000… otherwise I will wait for a long opportunity next week.

May13.EUR/USD – Long Entered

May 13th, 2011

Got a close above the 4240, I entered long as it came back down. A channel formation can be seen. Take a look at the chart for details.eurusdmay13

May 12.EUR/USD

May 12th, 2011

Watch for a close above 1.4240 on the 4hr timeframe. may12eurusd4hr

If so, hop on board… expect the price to get to at least 1.4400

It’s a bit late in the week so it’s likely to happen next week… we have a close on the daily time frame, but it’s not nearly deep enough to make me want to short… so again, watch for that close.

April 30 – Update

April 30th, 2010

Hello,

I have not disappeared off the face of the earth nor have I drained my account. I will be ready to hop back full force into the forex world shortly. I have been in a two month long transition.

If I get enough feedback I will start the updates again and I will again start posting videos, otherwise I will just be trading on my own. If you have any questions or concerns about this please email me at greg at trump trader dot com (with the @ and the . of course)

Thanks

Greg

Feb 25 – GBP/USD

February 25th, 2010

First off, apologies for the lack of updates. The next two weeks will be a little sparse due to limited time with the markets.

I entered a long at 5195, Half profit will be taken at 5245, then I will set a stop loss for BE and let the rest go.