It could be said that perpetual trading just for the sake of trading is tantamount to gambling. No buts about it. It’s just like throwing away your hard earned money at Marina Bay Sands. I am sure that is not what you intend to do with your trading account. You would want to grow your
Good morning traders! Always remind yourself this: Never believe that you control the market and that the market must follow what you think the market should do. That is pure fantasy. Adopt the perspective that you can never control the market. Believe that the market only gives you signals and clues to where it is
As a trader, I have encountered all sorts of emotions when I trade forex and I can say that these emotions can sometimes affect the way I trade and affect the decisions that I make. As time goes by and as I become more experience in trading the forex market, I begin to identify these
Never be boastful when you have achieved success in the markets. This is a story told and explained by Ed Ponsi in his book Forex Patterns & Probabilities: Trading Strategies for Trending & Range-Bound Markets (Wiley Trading): “A relatively new trader had entered the room, strutting and boasting openly and loudly of his recent successes. I did it again! Making money
Just take 5 minutes of your time before you start trading and entering any trades to do some visualization exercises. These exercises can help you to achieve your trading goals. 1. Visualize and see in your minds eye that you are entering a trade based on a set of rules. (Trades are not taken based
This article lays down the 5 qualities or 5 secrets that make up the successful forex trader.
Most traders know that over trading is a dangerous thing. It is something that most people would want to avoid but just can't come to resist. The question is "Why do traders over trade and when do they have a much higher propensity to over trade?" I believe one of the things why traders over