Why is it that we appear to get over excited with winning trades and close them early, in order to bank the profits and yet we allow our losing trades to run, desperately hoping and praying that they’ll somehow turn around and come back into profit? Psychologists have begun to explain the process by establishing […]
From an early age we’re conditioned to believe that hard work equals results, that the more effort we put into an activity then the chances are we’ll experience greater success, to paraphrase the famous golfer Gary Player; “the harder I practice, the luckier I get.” The notion that dedication, application, practice and overall “hard work”
The importance of identifying our trading mistakes and how to correct them Read More »
Many analysts, trading tutors and market commentators, will often discuss the various trading styles and suggest that novice and intermediate level traders should become aware of the four key classifications and match their psyche accordingly to that trading style. The four key trading styles being; scalping, day trading, swing trading and position trading. However, and
What kind of trader are you, where do you fit in? Read More »
If you’re one of the trading savants, who discovers forex trading (by accident or design) and immediately figures it all out, becoming profitable within weeks, whilst building up your small account to a large account, without suffering much in the way of losses and experiencing no drawdown, then look away now, this article will be
What are the necessary qualities to succeed in Forex trading? Read More »
Although they’re often classed as “soft data” metrics, sentiment readings are invaluable when attempting to determine the direction of forex currency pairs. Examples of hard data economic calendar results would be: • Unemployment • Inflation • Official economic numbers (manufacturing growth, GDP growth and interest rate decisions) Soft data would be classed as: • Sentiment
What are sentiment readings, and how do they affect our Forex trading? Read More »
It’s one of the most used (overused) tropes, in relation to technical analysis; “technical analysis lags, it can never lead” and in many ways such a claim is absolutely correct. The vast majority (if not all) of the technical analysis indicators we use, plot their path based on what’s happened and not what’s going to
Technical analysis may lag, but it is an important part of Forex Trading Read More »
I conversed with an old trading acquaintance recently, we first met over the internet, discussing trading ideas on a trading forum, back in the early part of this century. Wow, doesn’t that make me sound old? I’m only talking back in 2005, not 1905. Anyhow, the good news is that he’s still trading (successfully) part
The importance of working hard and smart to get to your ultimate trading goal Read More »
In terms of Forex trading we imagine scalping as a process to take a small amount of profit out of the market extremely quickly, whilst risking very little of our account size, on an individual trade. Get the process of scalping right and traders liken the method to stealing candy off a baby, get it
The potentials that you may have from scalping strategy Read More »
It’s inevitable that once you evolve into a highly proficient trader, you’ll look back at your trading history and regret some of the decisions you’ve taken. But as the phrase in the title suggests, you should try to have no regrets, instead concentrate on the lessons you’ve learned during your trading journey. Your meandering route
What you wish you knew about trading when you started out Read More »
Many experienced and by definition successful traders, are fond of referring to the 3 Ms principles of trading and insisting that you embed these principles into the trading plan you create, a working plan that you should never deviate from, other than with micro adjustments, in order to perfect your overall strategy. You’ll read and
What is money management in Forex and why it is so important? Read More »
