Hi Folks,
I have updated MDS Radio with a look at the US Markets, Aust Market, US Dollar and Inflationary Benchmarks.
Please send your feedback to radio@mdsnews.com
Regards
Aaron Furst
Click here to watch the presentation.
or
Click here to download the mp3 audio recording (1909Kb).
Aaron thanks for your very informative presentations, l was interested in your remarks on trade management l do have problems at times with stops on cfd trades, do you have any advice on how you manage your stops. doug
Hi Doug,
It’s a big subject. If you are having trouble taking stops I suggest setting automatic (hard) stop losses with your CFD provider. Once you enter your trade the next action should be to place the automatic (hard) stop. Then let the computer do the work. That way you are not responsible for exiting the trade. I use automatic stops all the time. It prevents me from giving the stop room, then praying the trade turns around.
In the end it really comes down to a change in the belief about stops. Most traders I speak to, consider stops a bad thing and have programmed themselves to act on their belief by not taking the loss quickly.
In fact, taking a stop should be viewed as the most profitable action a trader can take.
If you like I could put together a small presentation, where I talk about the numbers, ratios, thought processes, pros and cons. Let me know
Regards
Aaron