Lance Beggs

I was driving in my car the other night with my twin daughters when the conversation somehow turned to what they wanted to do when they grow up Naturally, being only nine years old, they had many ideas

Three losses in a row are tough That’s about the most consecutive losses that novice traders are psychologically prepared to accept before they feel compelled to take action and ‘correct’ the situation

Would you like to discover a quick and simple risk management strategy that is easy to apply to any trading plan, and has the potential to vastly improve results Excellent

Despite all the hype from the internet marketers who try to sell you the latest trading ‘secrets’, the fact is there are NO secrets * Identify setups which provide the potential for lower risk and/or higher probability trades

I love it when I read forum entries from people suggesting trading strategies along the lines of: - Enter long when the RSI(14) is above 50, the stochastic (14,5,3) has crossed positive, and the Williams %R(14) is rising from the oversold area - Enter short when the RSI(14) is below 50, the stochastic (14,5,3) has crossed negative, and the Williams %R(14) is falling from the overbought area (Disclaimer: I just made up that strategy, so don’t trade it without testing it first – the fact is though – I seriously doubt it works) Look, there are many problems with calling something like this a strategy, but the one I want to discuss today is simply that each of these indicators belongs to the same class of indicator