The odds of becoming a successful trader are very slim. As the great (and late) Mark Douglas once wrote “if I were to classify traders based on the kind of results they achieve, I would put them into three broad categories, the smallest group, probably fewer than 10 percent of the active traders are the consistent winners...The next group which consists of between 30 and 40 percent of active traders, are consistent losers... The largest group, the remaining 40 to 50 percent

Recently in our day trading class, we have decided to start a game that only FOCUS ON TREND TRADING. There are only few simple rules to follow, and fellow traders are supposed to follow the limited set of rules to trade. Third week into the game, what is the outcome? Tuesday team are so far the best performers so far. TOP 3 ... with 3 traders for the third place. What am I trying to show the new & old traders in our trading community with this game? Best traders have practice

For those who have attended Sniper course, you would have noticed that I have emphasize a lot about Money Management using Fibonacci retracement technique. Fibonacci retracement offers one of the best risk & reward from entries to exits. Wait for the setup that matches your trade plan Snipers are trading with some rigid rules built into their trading plan. Although the trading strategy is rigid, but within that rigid structure there are some flexibility such as how much you r