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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...
If you’ve been reading about the forex industry long enough, then I’m sure you’ve found tons of offers from forex-related discussions, Google searches, and even your Facebook feed on “Holy Grail” trading systems that claim to be easy, cheap, and are guaranteed money-makers...
We’ve got a couple of central bank statements this week, one of which is the BOC monetary policy decision. If you’re thinking of grabbing pips during this event, make sure you take note of these factors first. 1. Economic data turning a corner...
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...
When starting a new hobby or endeavor, it’s easy to get suckered into buying things that you think you need but eventually find that you don’t, at least not in the beginning...
EURUSD (Update from my last post May 28, 2016) - Trend-line Rejection after two weeks of retracement, Now we are looking for price action signal at lower timeframe to open buy position. Possible Target nearest resistance level @1.14600...
First, a review of last week’s forecast: – making a forecast for EUR/USD, both experts and technical analysis unanimously voted for a sideways trend with a bearish sentiment, which was 100% fulfilled – discrepancy between the levels of the beginning and the end of the week made just around 20 poi...
One of the more useful skills for forex trading is knowing when to press your advantage. Pressing your advantage may be in the form of increasing reward-to-risk ratios by adding to winning positions or even just logging in more trades...
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...
Having a profitable strategy is only a part of what makes forex trades profitable. The other part? Execution. If you find that you’re having trouble with your trading mindset today, then this list is for you...
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...
Setting expectations can be a wonderful tool for traders. They provide benchmarks to help us ultimately determine success and failure, and they also give us goals to work towards. However, we must be careful in setting our expectations...
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...
