While I’m a big fan of allotting time and effort to improving your trading strategies, I also believe that too much trading could do you more harm than good...
We’ve been getting a lot of questions in the forums and in our Twitter and Facebook pages about some economic reports and why forex traders think they’re important. Worry not, young Padawan. They’re easy enough to understand if you look at the big picture...
Why do you trade forex? Let me guess… Because you want to make a ton of money and be able to buy anything you wish? While this is a perfectly valid reason, it will most likely lead to excessive greed and ultimately lead to your trading account’s destruction...
In one of my older entries, I’ve highlighted the main differences between MT4 and MT5 to help y’all decide which platform you should use. Just recently, MetaQuotes Software Corp CEO Renat Fatkhullin has been encouraging traders to shift to the latter because of its new features...
Forex trading, at the very least, requires you to deal with risk and the unknown every single day. Because of the uncertainty surrounding trading, you will most likely encounter events that may change your comfort level, aka “stress you out...
Forex traders who want to be consistently profitable know the importance of tracking the rights and wrongs of the trades that they take. Unfortunately, the impact of the trades that they DON’T take is too often overlooked. Traders are no strangers to missing good trade opportunities...
What the heck does the phrase “sell in May and go away” mean and can it translate to forex trade opportunities? Here are points that you need to know. What the heck does “Sell in May and Go Away” mean...
Expectations are our own personal version of the future. Using your knowledge of how an environment functions, you project into the future what you believe to be true. Expectations also bring emotional highs and lows...
In learning how to trade, I think most, if not all, traders would agree that you need to involve yourself in various educational processes...
Have you ever entered a trade wherein you thought that you have prepared for every scenario only to be blindsided by an unforeseen event? If you have, then you, my friend, have been ambushed by the markets! Don’t worry...
Thanks to technological advances, more and more people now have access to their own forex trading platforms. Nowadays you can open your own trading account with only a small deposit and a few days of waiting...
It is often said that, when it comes to trading, you should play your strengths. Most trading psychology articles, however, focus on minimizing weaknesses rather than identifying and improving one’s strengths...
Much has been said about the importance of mastering your trading psychology. And though there are many different ways to accomplish this goal, perhaps the most practical and effective way of doing so is by keeping a psychological trade journal...
We’ve often talked about how your body is your most important tool in trading. Consistently profitable trading requires focus and you’ll need your mind and body in top form to execute your strategies flawlessly...
Ever heard of the line, “Try and try until you succeed”? I’m gonna let you in on a little secret. Sometimes it doesn’t apply to trading. One common mistake that newbie traders make is overtrading...
A lot of high-performing individuals cannot succeed in their fields on skills and determination alone. Celebrities have their PR teams, managers, and glam squads to portray them in their best light. Athletes have coaches and therapists to maximize their talents...
In life, we often try to compartmentalize things to make sense of them. For example, we separate what we like from what we dislike, what we are good at from what we are bad at, and what makes us happy from what makes us sad...
Having a bias is as natural as breathing and eating. Personal judgements, reasonable or not, are entrenched in our everyday activities. You use your biases, for example, to pick a restaurant, a potential date, or the school you want to place your child in...
At its very core, positive thinking is simply being optimistic about things. It is the tendency to take a favorable stance on things, hoping for the best possible outcome in any situation...
The last straw in a trading conviction is often neither fundamental nor technical On Friday a chapter in the US mortgage crisis finally came to an end. The US government has dropped all its efforts to sue Countrywide founder and CEO Angelo Mozilo...
