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Competing in Financial Markets by Philip Cooper

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CHAPTER 6

Tips for Successful Trading Strategies

Developing a profitable trading plan will enable you to be more successful in getting out of bad trades or staying in good trades. It is possible with a fully developed trading plan to have established the optimum buy and sell triggers and entry points that offer the highest probability of large profits. Your trading system should reflect the markets (currency, commodity, index, or stock) that you feel comfortable trading and the leverage you consider the optimum you need. For example, if you trade the EUR/USD, you will need to decide if you are going to trade a 1:10, 1:50, 1:100, or 1:200 leverage and make sure these parameters are in your trading system. In order to configure your trading software, ...

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