Wednesday February 26, 2014
Trading the Forex Market isn't as easy as some would make you believe. However, it's not as difficult either. To get a good grasp on whether or not this market could be a profitable avenue for you and your investing, you first need to come up with a trading plan.
To build a trading plan, every trader should begin by determining which market environment they prefer to trade between trending or ranging. After that is decided, you need ot find out what type of environment we're currently in before you can work on objective entry triggers. To find out how you can find a favorable market environment to trade, click here and enjoy!
Saturday February 22, 2014
Trading the Forex Market can be likened to a hunter in the woods. You want to be able to identify the best opportunities that can feed your account consistently without exposing yourself too much risk. In order to find opportunities consistently, it's best to develop a trading system fit to your needs and strengths.
This article is the prologue to a 4-part series on developing your own Forex trading strategy. Throughout this series, you will be introduced to key building blocks that make up key trading plans whether you're a brand-new trader or a managing a trading desk at a major Wall-Street bank.
Saturday February 22, 2014
It's so easy to enter into a bad trade. Of course, we want can never prevent all loses but any way in which we can see a trap and avoid it, the better off our trading careers and account equity will be in the future. From experience and from talking to thousands of traders throughout my career, one of the top drains of account equity is entering into a trade under false pretences.
What does he mean by 'false prences', you may ask? Quite simple, if you believe a breakout is taking shape only to fail, yet you enter thinking that all time highs are around the corner, you're entering the trade on false pretenses. If you can indentify a legitimite breakout vs. a false one where the sharp move traps new traders that may just be a last ditch effort by those in the trade to get out at a good price before the oppositiong takes over you will have a major edge.
If you're unsure how to identify those types of breakouts, this article is a great starting point to prevent you from entering a trade at the one of the worst possible prices on the chart.
Monday February 10, 2014
If you're like many other traders when you started out (myself included), you were probably going on a scavenger hunt as to the best trading system in the world. The one trading system that will tell you when and where you should buy. However, the longer you're in the game and the more trading desks and strategies you're exposed to bring out one common theme.
Every trading system is built upon defining an edge while keeping as much of your trading capital as possible when the edge that you've build your trading system around doesn't pan out. This article breaks down how you should approach trading from the vantange point that many now successful traders would were they to start all over again. Enjoy and let me know if you have any questions at all.