There are many reasons we enter retail trading and there are certain constants, that run through our decision making process eventually leading us into trading as a potential livelihood or hobby. Perhaps the single biggest reason we enter retail trading is to be independent and eventually wealthy and let’s be honest we all indulge in […]
Can you actually live off trading FX? When reality bites and hurts… Read More »
As many traders begin to adapt to their potential new trading career they’ll encounter many hurdles on their journey towards “trader enlightenment”. Many of the hurdles they face are placed there by themselves; greed and fear being the two most obvious. But there’s a list of other obstacles new traders will face and need to
What aspects of trading do we find the hardest and why? Read More »
If we were to indulge in a sweeping generalization and select a group of people as being totally unsuited to retail trading, then those with a scientific background, or quantitative mathematics background, would probably come closest. These groups could be best described as refusing to accept that price is random. Many become fixated on finding
In many of our trading articles, featured in our between the lines section of our blog, we stress the importance of keeping a trading journal as part of our overall trading plan. But what should we put in the journal and how does it differ from what should feature in our trading plan? The trading
Why we must keep a trading journal in our early trading years Read More »
As regular readers of our columns will no doubt testify we often have one eye on the new traders in our community when we pen our articles. Having seen so much erroneous advice offered to new traders, on various forums and through other brokers’ websites, we decided to take a stance and offer what we
When traders browse trading forums they’ll notice that the forums are generally sub-dived into various sections. You’ll have: general trading discussion, broker discussions, trading journals, platform discussions and the “anything else” sections. But without a doubt the most eagerly viewed sections, generally by a factor of over 50% versus the other sections, tends to be
Managing your expectations under the pressure of peer performance Read More »
Many successful traders will testify that learning to trade was one of the most difficult challenges they’ve experienced in their adult lives. In many ways it’s impossible to fully describe the emotional roller coaster we ride to eventually find a system and strategy that potentially reaps rewards. The journey is incomparable to anything else experienced
Why managing your emotions when trading is essential to your development Read More »
The ‘three Ms’ of trading have been referenced many times in our trading blog; our mindset, money management and method are the three critical constituent parts that underpin our overall approach to trading, these three critical success factors are then imprinted in our trading plan which (as we’ve mentioned on numerous occasions) is never violated,
Are you about to give up on your trading method? Perhaps you shouldn’t be too hasty… Read More »
We’ve touched on the subject many times of how traders go through a form of ‘trader metamorphosis’ when they first discover trading. Once they’ve discovered the industry they’ll experiment with many different strategies, whilst also experimenting with many different securities to trade. They’ll win some lose some and generally be down, in terms of their
Picking an FX broker; what separates the best from the rest? Read More »
There is a key phrase that has stood the test of time with regards to news trading; “don’t trade the news, trade the reaction to the news”. This week we had the perfect example of how to trade high impact news as the non-farm payroll print was published 18 days late and came in a
Using and improving your high impact news and fundamental policy analysis Read More »
