Recent content by davidrichard

From what I’ve read, I think not only central banks but the greatest volume of currencies are also traded by commercial and investment banks. These banks facilitate forex transactions for their customers. However, central banks move the market by controlling the price of its native currency...

Research, Use and Commit. These are the three steps that I follow. When I chose my current broker, Turnkeyforex, I did a lot of research about their background, read about customer’s experiences and then I personally tested their demo account before committing to them. I must say that a bit of...

If a system is not proving profitable and not providing desired results then I definitely consider tweaking it. We all know that as the market evolves, a particular system may become obsolete and it needs modifications to retain the effectiveness in the market.

As scalping involves dipping in and out of the market at a much higher frequency, it can be riskier than other strategies. You can make it profitable by using sound money management techniques, going for lower spread brokers and making sure to have a second line of defence in case you can’t...

If you genuinely want to understand the market, try not to keep yourself busy with opening and closing positions continuously. Rather concentrate on holding the positions for a few weeks to see the impact like Swing traders. You can also follow a semi automated strategy. It will introduce you to...

@patek643 Exactly. It’s not like Ether, it’s like Bitcoin with fixed supply. There’s around 32 billion ADA in circulation but the max supply is 45 billion. This is also one reason for Cardano's low price. If the demand goes up more than the supply, then only we can see it’s price rising really high.

What is volatility? Large fluctuations in the value of cryptocurrencies or any asset. What factors cause market volatility? News. When these big institutions release any such statements, it is like adding fuel to the fire.

I like it that these pop ups keep me well informed whether a site is tracking me or not but what I really hate is when some sites don’t let you decline the permissions, either you have to accept it or can modify it. If you don’t accept these cookies, you can’t see the content. It’s unfair.

I really liked it and I'm gonna apply it in my trading. Whenever I’m going to incur a loss, I’ll just walk it off and start fresh. Right now, I just take a step back, sit on my porch and reflect. It helps me to regain my calm.

This is the most common problem faced by almost every trader. Market conditions keep on changing and edges come and go all the time. The same trading strategy with an edge won’t work for long. The best way to analyse when your edge is not working is to monitor your win-loss ratio.

To be a successful trader you need to tilt every little factor in your favor as much as you can. Trading is like an ocean of dangerous rip tides where a surfer can’t afford to go with just one element in place. Every little thing matters for him to survive. In the same way a trader should also...

I think the only drawback of being an introverted trader is that we introspect too much. We think and rethink our decisions a lot of times and sometimes we fail to pull the trigger even after spotting a clear opportunity. We are good at long term-trades but acting fast is not something easy for us.

As they say, fake it till you make it. Don’t wait for something big to happen but, instead be grateful for little things. This is really a great habit to work on. Chant your gratitude affirmations at least twice in a day, once in the morning and once before going to bed. It is a known fact that...

Having the best method will also be wasted if you are not disciplined enough to use it effectively.

It’s a proven fact that caffeine increases cognitive powers of our mind and makes us do things faster and effectively. As trading is an intellectual activity, drinking coffee is beneficial to stay alert and more focused. However it should be consumed in limits.