08
Dec
Hello and welcome to the latest Edgewonk update,
with the latest update in 2017, we have packed this new version with new features and improvements so that you can start into the new year in the best possible way.
Here is a list with the features that we have included:
– Crypto compatibility – Edgewonk now supports journaling of crypto-currency trading
– 4 screenshots can now be attached per trade
14
Nov
This week, we are reviewing an Edgewonk journal from a trader with a profitable trading strategy and a good track record. However, there are a few things that we need to address and some flaws in his trading that keep him from reaching his full potential.
09
Nov
The most dangerous trading mistake any trader can make is “system hopping” and we believe that it is the single biggest cause for failure in trading.
System hopping means that a trader keeps changing his trading method, his indicators, entry signals and strategy all the time. While looking around for new strategies is normal in the beginning, when a trader still hops around systems after months, his chances to reach profitability in trading are slim to none.
Why do traders change systems?
Traders are always hoping to find the Holy Grail that will make them a lot of money without putting in a lot of work. But when does it ever work that way in life?
07
Nov
In our last post we announced that we’re starting a new video series where we review your Edgewonk trading journals.
Today we’re starting with our first video and thank you again for all the submissions so far. We look forward to your journals!
To sum up the most important findings, we have compiled a list for you:
– The trader is going into the right direction. His equity graph is trending profitably towards the top right
– His focus should be on the process. His data shows that he loses most of his money when he is breaking rules
31
Oct
In our quest for helping traders improve their performance, we often get asked how to achieve a higher winrate and stop losing trades. We feel that this is a very important question because it looks at the wrong aspects of profitable trading, yet it is asked by nearly every trader a one point.
The best traders don’t have the highest winrates. The best traders keep losses small and let winners run. Whereas the amateurs lose money even with a high winrate because they let their losses get out of hand.
17
Oct
We just released a new update for Edgewonk in mid-October and here is what is new:
13
Oct
Do you like challenges and enjoy working hard for your success or are you one of those people who try to look for shortcuts and avoid solving hard problems? There are mainly two types of people when it comes to the attitude towards progress, improvement and success: growth and fixed mindset people.
Most people are not aware which group they belong to, but being self-aware of your personal mindset and attributes is essential for success – not only in trading but in life as well.
In this article, we will help you identify which group you belong to and how you can move forward and start improving.
04
Oct
Checklist are used in different professions to standardize procedures and to minimize the potential for errors. When someone is doing the same task repeatedly, it’s easy to get sloppy or not give it the seriousness it deserves when you believe that you know how to do it anyway.
Trading is the ideal field for utilizing checklists because traders repeat the same things over and over again. Especially if you are a technical trader, you are usually trading the same patterns and following identical rules and signals for each trade.
21
Sep
14
Sep
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