Forex Trading Articles from FXCC – Forex Trading Articles to make You a Better Forex Trader. How to Trade Forex, Forex Trading Strategies & Best Practices
There’s a few fascinating quotations of ‘trader folklore’ that have stood the most testing of times, one of the most prevalent is that only 5-10% of self employed traders are profitable. This supposed firm ‘fact’ is one of the most common misconceptions within the trading community, yet it’s held steadfast as a convicted belief for […]
Becoming The Forex Trader We Want To Be And Becoming It Now Read More »
Once you’ve been in the ‘trading game’ for a number of years you observe trading fads come and go; dark-siding was all the rage a couple of years back, presumably you needed to be a Sith Lord or Jedi Knight to make it work. Apparently price action is the only way to trade, and if
Indicators Will Never Work Except When They Do, Which Is All The Time Read More »
Can anyone recall the first time they were introduced to technical analysis, did it feel like a Eureka moment, the sudden discovery that something happens when certain ‘numbers’ or horizontal lines on a chart are reached? Occasionally it’s worth reverting back to those sunnier more innocent days, particularly if, as many of us do from
All You Need To Trade FX Is A Couple Of Lines On A Chart Read More »
I’ve discussed the subject of stops before, as part of the money management technique, in a trader’s overall business plan, stops are an essential ingredient. Fact; the second you trade without stops is the same second you’ve compromised the money management aspect of your trading plan. How can any trader be risking a defined percentage
Either Use Stops When Forex Trading Or Give The Market A Signed Blank Cheque Read More »
There’s an old adage that I’m reminded of at the turn of each year; “Many people look forward to the New Year for a new start of their old habits”. I’m also quite fond of this phrase; “I make no resolutions for the New Year. The habit of; making plans, of criticising, sanctioning and moulding
Keep Your Glass Half A Percent Full To Reach Your New Year's Forex Goal Read More »
In the first part of this two-part article, we discussed the entity that is the COT report. In this second part we’ll discuss how to put the report to best use when looking to trend and or position trade forex trades. The COT (commitment of traders) report is a weekly publication, therefore logically it’s of
Climbing Out Of The COT Report And Beginning To Walk As A Forex Trader Read More »
He waits; that’s what he does. And I tell you what: tick followed tock, followed tick, followed tock, followed tick “You probably think the COT report is a Mothercare survey on which cots are best for new born babies” was a humorous but cutting put down I read on a forex trading forum a few
He Waits – That's What He Does Read More »
“A Man Is But The Product Of His Thoughts. What he thinks, he becomes.” – Mahatma Gandhi In an earlier article we discussed the ideas behind the concept of choosing a trading strategy to match our personality type. The perceived wisdom is that if you’re an impatient ‘action junkie’ you should trade lower time frames,
A Man Is But The Product Of His Thoughts Read More »
As somehow who actively encourages forex speculation and experimentation (in all it’s forms) it pains me to criticise certain elements that have grown unchecked within our industry. For example I’m deeply suspicious of the benefits of trading rooms, we’ve discussed the issues of lag before; the time taken for the trading room operator to take
The False Promise Of Forex Education Courses Read More »
There’s two diverse opinions on the subject of multiple currency pair trading, do or don’t, yes or no. The principal use and major benefit for engaging in a multi pair trading strategy is to hedge the overall risk, this can be done by observing the currency pair correlations that exist in the market place at
