Search results

That's not cheating, that's being prepared. I wasn't arguing that Forex is hard, just that I need more effort to focus on my own work to be successful.

Moving Average, for the most part. It's very helpful when you need to identify a resistance and support level.

I admire your ability to do that while you're at work. When I trade I need to be totally focused on the trading, if I had to do something else in the meantime I'd be doing both things badly.

I've never actually read a trading psychology book. I've mostly dealt with my stress on my own. Not that I've been very successful. :(

State Street Corp. , a US custody bank and provider of financial services to institutional investors, has agreed to pay $530 million in order to settle several lawsuits alleging it was overcharging its clients by secretly adding mark-ups on their forex transactions. “Matters of this nature can...

What is it about then? I'm pretty sure that having self-control is quite important...

Are you sure only trading is causing you stress and there aren't other added factors from your every day life?

I'm very far from believing I am flawless. I am impatient, anxious, occasionally greedy, more often than not more fearful than greedy, occasionally too impulsive for my own good. It's really hard to trade without attaching any emotions to it, although I work on that every time I trade. I think...

Following a false signal is something we've all done at some point, I think. Probably more than once. It's very frustrating, but it quickly teaches you to double-check your signal.

That is a lesson that took me forever to learn. When you're sitting in front of the charts the urge to trade sometimes can be overwhelming.

Tomorrow is another day. The market never ends and there will always be another great opportunity to trade.

I think that what is and isn't money should be a definition mandated by the state, since the state is the one guaranteeing their value. By that logic, obviously, Bitcoin isn't money. Whether the definition will expand remains to be seen. My problem was simply with the judge's reasoning and...

What I found fascinating about the Miami case wasn't just the ruling, but the reasoning of that judge, which basically boiled down to Bitcoin not being “backed by anything” and is “certainly not tangible wealth and cannot be hidden under a mattress like cash and gold bars”...

In my experience the longer you stare at the charts, the more everything starts looking the same. If you don't rest at least occasionally and come back with a fresh mind and fresh eyes you'd end up making mistakes.

It's a combination of many factors, I think. Discipline, knowledge, experience, being able to keep a cool head at all times, occasionally even a bit of luck are necessary for successful trading.

That's sometimes easier said than done. It's not always obvious which positions are losers and which are winners.

Regarding trading, of course it's exhausting. Any activity that requires extensive mental exercise like Forex trading does is exhausting. It's exhausting, frustrating, and occasionally very rewarding.

The goal of a successful trader is to make successful trades. Money is secondary - Alexander Elder

Don't trade whenever there are high impact events coming out. I have the habit of checking a Forex calendar at the beginning of every week, and if I see that on certain day there's a major event, like a FED announcement or the NFP I don't trade. Or at the very least I don't trade the currency...

I don't think that setting up any kind of daily goals is realistic. Sometimes you can profit a lot more than that goal, sometimes you shouldn't trade at all. Forex trading is a business of opportunity, if the opportunity is there - good, but if it's not it's best not to trade at all.