One of the most iconic images people have of Wall Street is the scene from the first Wall Street film where Gordon Gecko delivers his infamous monologue that begins like this, “Greed, for the lack of a better word, is good”. Since greed and its first cousin fear still drive markets, it does serve a purpose in terms of creating … Read More
Addressing the Trader’s Fear of Missing Out
One of the more entertaining things I hear out of forex traders that I talk to is, “I can’t believe I missed that 40-pip move! I left so much money on the table!”. My question is whose table did you leave that money on? What’s even funnier is when traders claim they’re losing money because they’re missing nice moves. This … Read More
What is Your Trading Process?
Recently I sat through an excellent presentation about trading psychology. One thing that I learned about the best of the best traders is that their most common trait is something called “process”. Process is just another name for routine. It took me a very long time to realize how important this one concept is for the developing trader. The main … Read More
Starting Your Trading Day with Scenario Building
In this video excerpt of the trading room, Marc Principato, CMT, explores multiple time frame analysis and the importance of scenario building. These are significant elements of a trading plan that trainees at SMB Forex learn to create. — Marc Principato, CMT, Risk Disclaimer *No Relevant Positions
Are You Flexible?
Flexibility in trading has to be one of the most difficult concepts to master when going through the learning curve. I remember much earlier in my learning process when I was stubbornly committed to a particular trading style that I was learning from a chatroom that shall remain nameless. Looking back, the style was complete nonsense but at the time … Read More
Forex Trading: The Bionic Forex Trader
Many struggling forex traders are in that position because they don’t realize one thing: the job of a professional trader is to isolate the least random market information and then take risks that are proportional to their trading capital. I say “least” random because a “non” random condition would mean that the particular setup would work 100% of the time. … Read More
Forex Trading: When Should You Go Against The Trend?
What makes prices in a financial market system fluctuate the way they do is traders entering and exiting the market for an infinite number of reasons. Some may be getting stopped out while others may be adding to a position. We can never know for sure the reasons why they may be acting a particular way at a specific period … Read More
Forex Trading: Know Your Time Frame
One of the more common mistakes I see new traders make is executing a trade idea that came from a larger time frame analysis, but justifying the entry from a set up appearing on a smaller time frame and expecting it to reach the greater target. It can be very confusing because the smaller time frame charts can offer refined … Read More
- Page 1 of 2
- 1
- 2