Tim Morge's Formula For Trading Success

In my negotiations at work, people have been telling me that I can't be such a diva because they are in very precarious situations. I know it's not a negotiating tactic and have tried to tone down the diva-ness. Whilst global equity markets have improved significantly, bankruptcies and other signs of weakness are still making headlines.

There are going to be winners in the aftermath if we see this as an opportunity. At the same time, on a personal level, everyday tensions can unfold that cause us to start doubting our own ability to survive. There's also a lot of repressed anger in the atmosphere. Where, with all the bailouts, has the government stepped in and done anything concrete to create new jobs and alleviate some of the uncertainty?

In our own trading at least we can still retain control over our account.

I took some notes during the Tim Morge workshop I attended recently. He shared with us his formula for trading success.

1. Find a setup that repeats over and over.
2. Do your homework to make sure it has a good profitability (do the actual statistical analysis).
3. Exercise stringent money management. Look at risk:reward and never chase prices.


In this environment, I think it’s most important to look at the levels that are being defended and base your trading decisions on those levels.

Hey, I know what’s happening some of the time, but not all the time. If I see something I don’t know, I’ll just ignore it and do my best, right? That's all anyone can do at the moment. Take it one trade at a time.

My Citicard payment better get there by tomorrow. Oops, that wasn't supposed to be there!