Time-based Trading Strategy

We’re getting underway with the details of the time-based strategy that I’ve been working on.  Please see the article/video at winnersedgetrading.com.

More to come over the coming days/weeks – stay tuned, because it’s looking very exciting.

Remember, the best way to track your progress with any strategy, is to record the details of every trade you make, then analyze those trades objectively afterwards.  ToT-Lite is a totally free version of “Trade on Track” and this software allows you to monitor the performance of any trading strategy easily.

Trade Seriously!

Mark Thomas

www.tradeontrack.com

Want that winning edge in your forex trading?

I’m proud to announce that I’ve just been added as a writing contributor to the WinnersEdgeTrading.com website.  Casey Stubbs, the founder of the site, genuinely cares about providing great free content for those learning to trade and those wishing to improve their trading.  On his site you can find free charting software, great forex-related articles and even free live training run weekly.

You can find my first post about time-based trading strategies on Casey’s site here.

Trade Seriously!

Mark Thomas

www.tradeontrack.com

Becoming a successful Forex Trader

Becoming a successful forex trader doesn’t come easily for the majority of us. If it were easy, everyone would be doing it and

Achieving your Trading Goals

Achieving your Trading Goals

making a million dollars. Successful trading requires focus, dedication, commitment, finding or developing the right trading strategies and trading plans, and most of all … discipline, discipline, discipline!

It can be a hard road with many ups and downs. If you don’t have your mind set to a clear destination with your trading, and constantly assess where you’re up to on your path to that destination, then you may end up going in circles or even backwards.

Setting your mind to a clear destination should involve some decisions:

  • Decide why you are trading. Is it just for the money? Do you enjoy the challenge? Do you enjoy the technical aspects or analyzing fundamentals, or other things about it? * What exactly, you do hope to achieve from trading? If you are trading for the money, then decide how much money you hope to make from it. For instance, determine a monthly amount of income that you would hope to draw from trading, then work out how big a trading account you would need, and how much return on investment (ROI) you’d need to be making to achieve your desired income.
  • Decide on how soon you would like to accomplish these things. A 12 month plan is generally a decent period of time to be able to gain some momentum and achieve some fairly incredible goals. It’s also not too far in the future that you think is so far away that it’s not even worth shooting for.
  • Decide on a plan to get to your destination. Do you need more trading education? Do you need to find one or more profitable trading strategies? Do you need to improve your discipline?

Once you have a plan in place to reach your trading destination, take some action! Take action every single day, some sort of action that moves you toward your goal and not away from it. Each day review your goal and think to yourself: “what can I do today that will move me toward that trading goal?”. Pretty soon your actions will become habitual and you’ll automatically be well on your way to great success when it comes to trading.

It’s also important to track your progress as you move toward your trading goals. Constantly review the trades you take: did you stick to your trading rules? If you’re sticking to your trading rules and you’re still losing, then perhaps it’s time to find a new strategy, one that’s more profitable in the long run. Also track things that you normally wouldn’t think of, things like: what currencies do you trade which are most profitable for you? Which time frames on the charts do you have the most success with? What days of the week are you making the most money on?

Trade on Track makes analyzing the performance of these different attributes of your trading very simple. The program can highlight areas of strength and weakness in your trading which you would never have thought of otherwise.

The path to trading success is not an easy one – but you can fast track it and simplify it by setting achievable (but BIG) goals, taking action every day to move you toward those goals, and tracking your progress every step of the way.

Good luck and Trade Seriously!

Mark Thomas
www.tradeontrack.com

Tracking your Triad Formula

The dust is settling on a big day for the Triad Formula crew.  Nearly 1000 traders or soon-to-be traders have snapped up a $2k triad_trade_on_trackbundle of trading strategies and associated training services.

Congratulations on a job well done to Jason, his renowned internet marketing partner  and the rest of the crew!  Obviously a lot of work has been put into the launch and it has paid off big time.

Congratulations also to those of you who have bought a copy of the Triad Trading Formula.  There’s a bundle of good trading strategies in there and plenty of support to go with it.

However (there’s always a ‘however’), can I offer a piece of advice to the new purchasers: just spending the money on the product and giving it a half-donkeyed go at it is not going to make you rich through forex trading.  You MUST give the system your full focus, you must learn the strategies inside-out, back-to-front, you must commit to becoming a successful forex trader for it to work for you.

I speak from experience.  I’ve bought similar forex trading courses and strategies in the past.  In themselves they are very good and if followed – they will make you money.  I’ve also been a member of Jason’s trading clubs in the past and I know that he’s a good trader, has good (profitable) trading strategies, and from what I know, seems to be a a nice bloke too.

But, just by spending thousands of dollars does NOT guarantee success!  From what I can see, the Triad Formula incorporates at least 5 different trading strategies – used for different market conditions.  That’s a lot to learn and a lot to implement correctly.  You’ve got to track the use of each strategy properly so that you can gauge how effective they are working for you, or not.  Each trader has a different trading personality (I’ve spoken about this before) – determined by what level of risk they like to take, what hours of the day they have available to trade, how much overall time they can commit to trading and so on.  There’s a good chance that not all of the strategies are going to work equally well for you.

My advice is to fastidiously keep a detailed trading log. This step is often missed in the teachings of even very expensive forex training courses, yet it is critical to long-term success.  You MUST keep track of your trades, analyze which trading strategies are profitable for you and which aren’t.  Please, please, please – protect your substantial investment in forex education by taking the extra step of tracking your trades, tracking your performance as a trader, learning from your mistakes and also learning from your successes. Trade on Track is the software tool you should be looking at to accomplish this.

If you missed out on the Triad Formula launch, then they might do another one in future that you can get in on.  In the meantime, there’s plenty of good free training and free strategies out there too. I always recommend babypips.com for new traders – it’s one of the best free forex training sites around in my opinion.  Also check out this guy: forex-fxtrader.com who offers free forex education as well as giving you free insights into the profitable trading strategies he uses. You can also buy $50 trading books from Amazon which give you very, very good, high probability trading strategies you can use in the forex market.  I’ll leave those recommendations for another post.

For trading success, always Trade Seriously!

Mark Thomas

www.TradeOnTrack.com