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
Forex Trading Room Recap 10.16.12
In this segment, Marc Principato, CMT explains how he likes to utilize whole numbers as part of his price action analysis. Whole numbers like 1.3000 and 1.3050 can serve as potential support and resistance levels where trading opportunities can emerge. — Marc Principato, CMT Risk Disclaimer *No Relevant Positions
Forex Trading Room Recap 10.15.12
In this segment, Marc Principato, CMT talks about price behavior nuances around pivot points. A pivot point indicator is a common tool, yet it can offer potential reaction points where you can uncover attractive trading opportunities. It is the first step in a sequence of price action that can lead to quality trade setups. — Marc Principato, CMT Risk Disclaimer … Read More
It’s The Forex Dealer’s Fault!
Let’s talk conspiracy theories. Many new traders get caught up in the idea that they cannot make any money because the spot forex market is manipulated. The dealer, (aka your broker) knows where your stops are and purposely runs them in order to generate losses for you and wins for him. They don’t let you out of your winner at … Read More
Forex Trading Room Recap 10.12.12
In this segment, Marc Principato, CMT explains an example of the crowd behavior behind support and resistance levels. This is a basic example that emphasizes the importance of having a strong understanding of the psychology behind the movement of prices. — Marc Principato, CMT Risk Disclaimer *No Relevant Positions
The Great Paper Trading Debate: Helpful or Hurtful?
When it comes to paper trading, there seems to be two strongly opinionated sides to its purpose in helping traders learn how to trade. There are the opponents and this group usually includes brokers (I wonder why). Their argument goes something like this: Paper trading is something you want to do for maybe a week or so in order to … Read More
How Long Does It Take To Learn To Trade Forex?
This is one of the most common questions educators have to address when offering programs to help newer traders improve. It is also one of the most difficult questions to answer. Usually the answer you get is, “Well, it’s different for everybody. That is a nice and easy way out. You can actually answer this questions yourself by examining three important … Read More
Forex Trading Room Recap 10.11.12
In this segment 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