Trading psychology is a crucial aspect of the foreign exchange (forex) currency market, as it can greatly impact a trader’s ability to make sound decisions and achieve long-term success. One of the biggest challenges in forex trading is managing emotions, particularly fear and greed. Fear of losing money can cause traders to exit positions prematurely, […]
I have been reading the book Pit Bull – Lesson from Wall Street” Champion Trader, and I wanted to insert an interesting, long quote from the book. The chapter title is Never Short a Republican. I think the quote is appropriate to describe the current political climate here in California where the Democrats have a […]
One of things I like to do on the way home from work, in heavy Southern California traffic, is listen to podcasts in my car. If you haven’t listened to the Chat With Trader podcast, you are missing some good interviews with all sorts of traders. Australian, Aaron Fifield is the host and he ask […]
Have you ever placed a trade, gain some pips, then watch all your pips disappear losing even more pips? Sound like you? How do you fix this problem? Fixed profit objective. When you enter a trade, have an amount of pips you are willing to accept, then get out of the trade. You are probably […]
I have been trading since October, 2007, and now I am faced with finding a new broker…again! What is it with forex brokers? I guess they are like traders, they come and go. I started out with GFT, Global Forex Trading. At the time, they were recommended by my forex instructor as a viable broker […]
As a trader, has anyone ever commented to you that it sounds like gambling? I’ve had a few people ask me what the difference is, so let me summarize what I think about it. Let’s start with gambling. When you partake in any of the games of gambling, you are dealing with FIXED odds, and […]
Why does it seem like everybody involved with trading wants to take your money? No, I’m not talking about the person on the other side of your trade or your dealer with their spreads and commissions. I’m talking about the trade educators who have moved on from selling their books or trading strategies to charging […]
As traders observing the Forex currency market, we look for patterns to trade that will net us profits. The problem is that market is so random. Yes, there are patterns that occur over and over again, but the market is always changing or going through cycles. I have been rereading Fooled By Randomness by Nassim […]
Wow! I can’t believe it’s been this long since my last post. I have been so busy with my job change and living life. There have been a few times I wanted to write about my trading, just no time to do it. Even today I have to work on my grades for my classes […]
The other day at church while reading along in my Bible with the pastor, I was reminded of something related to trading. As a Christian, the passage has to do with the fact that we will never be perfect here on earth, but make an attempt to be, forgetting the past and look forward to […]
