Quotations by Michael Duane Archer

I recommend these basic ideas to new traders: (1) never commit more than one-half of your account balance to open positions, (2) never trade more than two market pairs concurrently, (3) never commit more than 25 percent of your capital to a single position, and (4) never trade over 50:1 leverage. Begin your trading career at 20:1 and work up in increments of 10:1 as you are successful. [2008] - Michael Duane Archer

Many traders use similar tools, and I know in fact the majority almost always loses. [2008] - Michael Duane Archer

I recommend a toolbox consisting of at the most three Indicators. [2008] - Michael Duane Archer

A moving average typically works when a market is trending in one direction or another. An oscillator is most effective when a market is moving sideways. [2008] - Michael Duane Archer

My take on the news is this: Don’t try to trade it, but watch how the market reacts to it for trend indications. Remember the initial price impact of news is often dramatic, but it may take several hours to be fully absorbed. It is not uncommon for prices to react sharply in one direction initially, then gradually trend in the opposite direction for much of the trading session. This phenomenon is called Price Trace Dispersement(PTD). [2008] - Michael Duane Archer

Start at the lowest, usually 10:1 and move up by the smallest increments possible as you have success. [2008] - Michael Duane Archer