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Monday, November 10, 2008

Money Management: Trade Management

"Create a definite plan for carrying out your desire and begin at once, whether you are ready or not, to put this plan into action." - Napoleon Hill

As I mentioned the other day here on the blog? YouTube contacted me, after blocking one of my money management videos. I was under the impression that I was allowed to use under 30 seconds of any song, under the 'fair use' clause. Well, YouTube disagrees. I did not store those videos anywhere else; such as at Google Video, Metacafe, etc. Therefore, I will re-do these very important videos. At the same time? I get to improve the video quality. If you have not seen them yet? This is the most important series of videos that I ever made.

So here is a repeat of the Money Management Video: Trade Management ...

As a trader of the forex, stock market, or commodity futures trader we always hear what? Have a trading plan. Always have a trading plan. Ok.

But what does that mean? What should that plan consist of?

We discuss that in the following vlog entry ...

(Video Included. If you're seeing this from Email subscription? Click on the Title Link in the Email to View the Video ...)




Tomorrow we discuss the dreaded Drawdown!

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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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