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It’s been preached by every lecturing market guru since the Aden Sisters danced to the music of the gold market.

Countless hours of seeking out the right guru (or piecing together your own system). Weeks of monitoring your guru’s daily trade picks (or paper-trading and back-testing your homemade system). You’ve done it by the book.

Deal With U.S. Would Let Boeing Avoid Prosecution The agreement would end a three-year investigation into wrongdoing by Boeing employees and would require the company to pay $615 million.

You may be wondering, Why would David Jenyns write about the worst trading strategy around? There are a couple of reasons. First, to warn you about it. You really don’t want to end up using this system. Secondly, because once you know the worst possible strategy, the one that is designed to maximize your losses over the long run, then you can reverse it to craft a strategy which does the exact opposite.

You can draw some useful parallels between running a business and trading. For instance, most successful businesses keep statistics on everything from their conversion rate, to their average dollar sale, to the number of people that come in the door. They do this to keep on top of how they are doing on a day-to-day basis. A successful business will do this because they understand you must first take score before you can begin to improve on that score. Trading works exactly the same way.

After you’ve set your initial stop loss, chosen your method for calculating your trailing stop loss, and implemented all your money management rules, there is one last thing you should do. Back test your system. With out back testing you will be headed in the right direction, but you won’t know what to expect from your system. Back testing will also give you the confidence to keep going when you begin to experience the doubt that every trader faces at some time.

Steel Makers in Takeover Fight Beat Expectations on Earnings BRUSSELS, May 12 (AP) — Mittal Steel and its takeover target, Arcelor, reported better-than-expected results on Friday that Arcelor used as proof that it should stay independent. Mittal also announced that it had clearance from United States regulators for its proposed takeover. […]

There are two cardinal trading rules that I am sure you are quite familiar with by now. The first is to cut your losses short. The second is to let your profits run. However, you can take it one step further by fine-tuning your trailing stop losses, and becoming more risk seeking once your stock is in profit. Increasing your risks, at the right time, can allow you to get all the profit you possibly can out of your system. You may wish to test the effects of having a wider trailing stop loss than your initial stop, and see how this is reflected in your system.

A trailing stop loss is very similar to a stop loss, but where the one kept your losses small, the trailing stop loss will enable your profit growth. A trailing stop loss is calculated in a manner like the way we calculated our initial stop loss. The only difference being that while we calculated our stop loss from the entry price, we`re calculating our trailing stop loss from the highest price since entry. The key to the trailing stop loss is that you need to continually make adjustments to make sure that the stop is moved in your favor.

NRG Energy Revenue Doubles, but Earnings Fall By Reuters.