5 Forex Trends You Must Have to Be Rich
Have you ever wondered why rich forex traders get even richer? It is definitely not because they are lucky. It is also not necessary the money they have inherited from a very rich uncle. It is very unlikely that they won a lottery. So what is it that separates the simple trader from a wealthy one? Is there a pattern to follow?
3 Ways Not to Blow Your Trading Account in Volatile Market
This article tells you about the unpredictable behavior of the currency and ways to avoid the biggest mistakes in trading. Follow the tips of our experts on how to build the confidence and earn money instead of blowing up your trading account.
5 Easy Ways to Be Updated With Global Cues for Better Trading
How to stay updated with the latest political and economic headlines and use it the right way in trading? Here we discuss the importance in reading the signals, analysing the market in order to make logical and profitable decisions.
Tuning Out the Noise
This article talks about the comlicated task of ignoring the irrelevant information in order to avoid distractions. What are the strategies the professionals use in order to keep the eyes on the ducks without getting overwhelmed with news and events that may or may not be important?
What Happens When Trader Violates Risk Management Principles?
The moment arrives in the life of almost every forex trader when he or she realizes that their actions are not cutting it. They are just not doing what they need to. Normally, this coincides with a period when they are frustrated and/or angry. Upset with the market, but mainly angry at themselves for not performing like they expected. Almost always, this comes after a big loss, when a trader has likely violated intelligent money and risk management principles.
Cutting Edge Forex Trading
OK, you’ve been trading for a while. You’ve made money, and lost money, and made money again, but something is missing from your routine. You don’t know what it is exactly, but you can sense it. Essentially, it is a feeling that you are close to unlocking the “Holy Grail” of trading...very close...but you are still just shy of it, and it feels like an ever elusive goal. Well, you are not alone.
Gold and Silver Trading Tips
A very experienced young trader once told me that when you have successfully traded metals, you have graduated to the next level of trading. Discounting the inherent arrogance of a brash Wall Street know it all, there is some truth to this. Gold (XAU) and Silver (XAU)-the two most common vehicles for currency traders-have distinct characteristics that make them a greater challenge for many retail traders. For one thing, it generally costs more to trade them in terms of spread and leverage. Trader’s accounts can be affected to a much greater degree for traders of these instruments.
Stay Objective in Forex Trading
The most difficult challenge for many traders is suspending their set of beliefs, biases and “feelings,” and trading. Often, the biggest obstacle to profits is the trader’s own habits and actions, which can usually be traced to their inability to remain consistently objective. The key word here is consistent. Traders need to absorb tons of information from many sources, process it, analyze it, and trade with it. Often it is incomplete, and/or the data itself is contradictory to events and other market feedback. This lends itself to subjective opinions and sentiment.
Why it is So Hard to Close a Losing Trade?
Often or not we find ourselves in those quicksand situations where we know that our decision to open a trade was clearly wrong but we feel paralyzed to close it on time. Soon enough, we end up with no other option to close the losing trade with huge loss that wipes out weeks of small profits.
Forex Trading With Full Time Job
Whether you are a beginner in forex trading, who isn’t fully really to leave the full time job yet, or you just want to have a bit of both - full-time stable income and part-time exciting investment opportunity on the side, you have to figure out how to trade after or during work because forex market isn’t standing still and doesn’t wait.