library is your best bet, but there are plenty of reputable online resources as well. These include: Conducting a self-assessment,.e., an area that assesses your personal strengths and weaknesses and how they can be effectively leveraged for the trading endeavor. You can also ask established traders for advice. A mechanical system makes it easier for a trader to trade consistently because there is a clear, pre-defined set of rules. And some of the best trend following funds have been in operation for over 40 years, building up funds with billions of dollars in assets. Keep a journal and be sure to record the results of all your tests. 5 If you suspect you have a problem, contact an addictions specialist. It is particularly important that once you write these rules, you abide by them 100 while trading.
But this also means you need not go into too much detail in those areas that will be covered by the other components of your trading system. Detailing your risk and money management strategy. My name's Joe Marwood and I'm a trader originally from London, England.
On the other hand, you might find a particular charting service well worth the price and use it instead of the many free charting services offered around the web. Option Tip for your Success! If you have a mechanical trading system that works - and you follow it consistently - emotions are removed from the decision-making process. Some traders prefer to trade off of charts; others prefer to use raw Level II data. I go through the fundamentals of trend following, the theory, the secrets, and the steps necessary to build a robust and reliable trend trading strategy. With most mechanical trading system you discover how to set alerts in any market you choose.