Psychology Of Trading
The psychological aspect of trading is usually underestimated
by those new to trading. The psychological problem for most
traders is the fear of losing - ironically it is this fear that
causes most traders to lose money in the long run. The fear of
losing can manifest itself in a number of ways:
Unable to pull the trigger and enter a trade. A trader can
start to lose faith in a system that has produced a number of
consecutive losing trades and might start to look for further
confirmation before taking the next trade. Inevitably the trade
that is not taken will be the winner. The point of a mechanical
trading system is that it forces the trader to take the trades
that they wouldn't normally take just by looking at a chart.
Unwilling to accept a losing trade and cut a losing position
short. Losing trades are an inevitable part of trading, many
successful systems will produce more than 50% losing trades. The
key is to never marry a position - if it hits your stop loss then
exit it. Preserve your capital for the next trade.
Taking a profit too early to prevent a winning position become
a losing one.
There are a number of ways to counteract the fear of
Have a plan. Never enter a trade on a hunch, tip or gut
feeling. Always know your exit before you enter a trade.
Discipline. Developing your own trading plan that you believe
in will make it much easier to follow than trying to trade
Money Management. If a position is too large for your account
size then you are more likely to hang on to the losers or cut the
winners short. Each trade is merely one step along a very long
journey. Strict money management rules should ensure that you
never stake more than you are comfortable with.
Ignore the money. Don't view your trading account as money,
view it as points. The better your trading plan and your
execution the more points you will accumulate as a reward. It is
difficult to trade objectively if all you can think of is that
your last losing trade could have paid for a two week holiday or
bought you the latest camcorder!
Tim Wreford runs Online Futures
Trading, a website that provides information and resources
for traders. Tim also provides a free
day trading system, the results of which are updated daily on
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Forex Trading Online - 7
Reasons Why You Should!
Forex trading online is a fast way to use your investment
capital to it's fullest. The Forex markets offer distinct
advantages to the small and large traders alike, making
Forex currency trading in many ways preferable to other
markets such as stocks, options or traditional futures.
Getting a Forex Trading
Many Americans are interested in getting involved in forex
trading. Before doing this, you should get a forex trading
Two Timeless Rules in
RULE #1) ~ Cut your losers; let your winners ride. One
important thing that every new trader must know before
entering this highly profitable business is that life is
not perfect, even in FOREX land, and you should always know
one fact: YOU WILL HAVE LOSING TRADES.
Day Trading the Index
Futures - How to Judge Good Entries
QUESTION: If the SP futures fall through support and go
straight down for another two points, and I want to get
short, should I a.) enter immediately, b.
A broker is any person or firm that charges a fee in
exchange for executing trades for a trader. A Forex broker
does not charge a commission for placing a buy or a sell
order the way a real estate broker would charge a
percentage fee of the total price of a sale.
Q1: When you consider that the foreign exchange market has
become the world's largest financial market, with over $1.5
trillion USD traded daily, where does it go from
here?A1:The FX market is unique, in the UK there is no
central exchange, we trade via the inter bank market.
Why Forex Traders Plan To
Fail Before They Even Place Their First Trade & How You
Can Know It & ...
Have you heard the wise saying that a trader who fails to
plan, plans to fail? I have, and I was once that trader!
However, did you know that even though traders who have
constructed a plan, which incorporates their trading
strategy (their "edge"), they have a plan that is likely to
fail? If we look at all traders who participate in the
market: we have one group that fails to plan and therefore
plans to fail; another group whose plan is failed; and a
third group who properly plans and therefore does not
fail. Is it any wonder that the success rate for forex
traders is so slim? Well it doesn't have to be.
Choosing A Forex
With currency trading becoming ever more popular, the
number of brokers is growing at a rapid rate. What should
one look at when deciding which broker to open an account
with? These are the important points to consider.
6 Critical Factors For
Success in any profession can be broken down into a number
of critical factors. Trading is no different.
The Nature of the
Consider the following: As a trader you are in a business.
Your strongest opponent has plenty of capital.
Foreign exchange market, or better known as FOREX, is the
world's largest and most prolific financial exchange market
originated on 1973. Bearing the status of largest and most
prolific currency exchange market, FOREX is the center
stage where a vast majority of the currency trading or
FOREX trading takes place, with a total daily turnover of
currency worth more than $1.
How To Control Fear And
Greed In Trading
There is an old saying that the market is driven by fear
and greed. Anyone that has placed more than a couple of
trades will surely have experienced these two emotions.
The psychological aspect of trading is usually
underestimated by those new to trading. The psychological
problem for most traders is the fear of losing - ironically
it is this fear that causes most traders to lose money in
the long run.
I read on a bulletin board a traders comment that on his
first outing trading the E-Mini S&P 500 he lost on each
of his trades. He noted though, that had he had a wider
stop each of his trades would have been profitable and that
therefore he would be trading with a wider stop in future.
What are Forex signals? Forex signals are paid services
offered by some brokers and independent Forex annalists.
Companies that offer forex signals monitor and analyze the
market for you, providing you with their data via desktop
alerts, email or even SMS and pager alerts.
A Short Introduction To
FOREX is the world's largest and most liquid trading
market. Many consider FOREX as the best home business you
can ever venture in.
Financial Crises, Global
Capital Flows and the International Financial
The recent upheavals in the world financial markets were
quelled by the immediate intervention of both international
financial institutions such as the IMF and of domestic ones
in the developed countries, such as the Federal Reserve in
the USA. The danger seems to have passed, though recent
tremors in South Korea, Brazil and Taiwan do not augur
Trading Tips No 1: Learn
How to Trade The Moment of Truth
So you have learned how to trade the markets by mastering a
few trading tools like Moving Averages, Channels,
Stochastics, MACD, or RSI - that is a great accomplishment
achieved by only a few. However, having the tools and rules
to trade markets successfully, year in and year out, is
only half of the challenge.
The Miracle of
My father, who owns a small parts store and garage for
vintage British sports cars, called me up recently and
droned on and on about how he is getting killed by the
Euro. Confused as to how the Euro could possibly be
affecting his small and seemingly insignificant business, I
asked him how.
Welcome to the World of
Indeed large multinational and individual banks and other
major financial institutions have dominated FX trading
(also known as Forex trading), but there is a paradigm
change in the nature and type of investing. According to
one estimate, in the new millennium, there are over 6
million online investment accounts, up from 1.
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