There is one immutable rule in trade, which is: "Always stick to your stop orders." Before entering each transaction, you should know your risk tolerance threshold. This is - the best way to make sure that your losses are controlled, and you do not get too emotional in their trade...
According to the World Bank Trade Data (IBRD-IDA) -World Integrated Trade Solution (WITS) , the Total World Trade during 2014 equal to 19.01 trillion USD for imports and 19.06 trillion USD for exports . The annual growth rate was 2.7% & 3.3 % for imports and exports respectively...
Modified from someone else code here (I'll get the name later). For MQL4, Build 971. Hopefully this will not upset anyone, but... you never know.... Your comments and improvement suggestions appreciated...
In less than 24 hours a potential market-mover is set to take the forex scene for a ride. Yep, I’m talking about the EU referendum! In case you missed it, our British friends are about to decide if they want to either stay or leave the European Union (EU...
Experiencing losses is as much part of forex trading as winning trades. Unfortunately, a lot of traders take losses personally and they end up reacting to their losses by taking revenge trades. Revenge trading is mainly driven by the fear of being wrong...
A Greek philosopher once said that “the only thing that is constant is change.” This adage is never taken for granted in the world of forex trading. The nature of the industry doesn’t make room for those who are too set on their ways...
I’m pretty sure that most of you know what it feels like to be “in the zone.” Whether it’s in trading, sports, or in a contest wherein you have to come up with the best pick-up lines, it feels as though the stars align and the whole universe conspire to make you feel better...
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...
