The Trading Athlete - Shane Murphy & Doug Hirschhorn
This book is a must read if you are wanting to become a successful online trader. It has many simple easy to follow exercises that help you to discover fundamentals of online trading. Remembering the simple lessons that this book points out is fundamental to your success. One of my favourites is creating you mission statement. Since I read the book in February 2009 I have changed my Mission Statement at least 3 times, it grows with you.
Excerpt - A successful online trading athlete knows that there is a difference between a bad trade and a losing trade. Just because a trade is not profitable does not mean it is a bad trade. Bad trades are trades that are made without careful consideration and substantial reason. But if you execute a trade for all the right reasons, as part of your strategy, and it still fails, it is not a bad trade, it is just a losing trade. No one can avoid losing trades.
To Your Trading Success
The Investor Guru
Excerpt From My Book
Chapter on Choosing the Right Platform and Spread Betting/Forex Company
I have not mentioned here the aesthetics of the platform and ease of use. There are some platforms that are the easiest to use, however in my opinion look dreadful. Can you manipulate the platform so that it looks and feels the way you want it?
When I first started out I opened accounts with 4 different spread betting platforms and 2 forex. I have to say that ease of use and the size of the spreads was more of a deciding factor on the spread betting platforms and aesthetics and ease of use for forex, the forex platform also had some of the best spreads too. I now just use 2 platforms, 1 account specifically for forex and another for spread betting. It did turn out that the ones I chose also had the better charting and training aids.
One of the biggest differences between spread betting services now and those of a few years ago is that the spreads are much tighter. What this means for you is that your costs to enter and exit a trade have been brought down which is good news all-around as your break even point is a lot lower.
One thing that should be done without a second though is to read the terms and conditions thoroughly. You will have to tick the box that says you have read them, so read them.
Every so often I will place a snippet for you to read here. I don't want to give the game away too much.
To Your Trading Success
The Investor Guru
Spreadbetting & Forex The Handbook
Hi there,
Well I mentioned that I was writing a book, well just to give you a brief foray into the contents.
1. CHOOSING A SPREAD BETTING FIRM
2. SETTING UP
3. RESOURCES FOR TRADING
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8. 10 COMMON SPREAD BETTING AND FOREX MISTAKES
9. KEEPING YOUR LOSSES SMALL – THE USE OF STOP LOSSES
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12. FINDING THE WINNING STRATEGY FOR YOU
13. SPREAD BETTING STRATEGY I – Trend Trading
14. SPREAD BETTING STRATEGY II – Stock Trading
15. SPREAD BETTING STRATEGY III – Stochastic & MACD 60/40 Trade
15. THE EXIT STRATEGY
There are more, I just thought I would give you a taster.
To Your Trading Success
The Investor Guru
