2.7. What is your income expectation.

6.2.7. What is your income expectation. This is the golden rule of investment and speculative business: We have been brainwashed to set our profit return so high. Many trading gurus and fund managers claim that they can give you profit at least 5-10% a month. So we also set our goal according to what they…

2.9. Balance vs. Equity.

2.9. Balance vs. Equity Equity is the amount of money you would have after adding floating profit or floating loss when you close all trades. Balance is the amount of money you have right now after adding profit and loss from closed trade.   Below you will see the comparison of typical traders who win…

2.12. Trading Costs.

2.12. Trading Costs. If you are a day trader which closes every trade every day, then you can omit negative swap cost. Be careful to take notice what time your broker will charge swap. And on Wednesday your broker will charge swap rate three times as big as other days. In this section I want…

5. Develop your Trading Plan.

5. Develop your Trading Plan. Before you trade, you must have a trading plan. You must plan everything in advance. You must know what trading system you will use, what is the risk, the strengths and weaknesses of that system. You must know what pairs are you going to trade and why. You must know…