You know the following situation well: You had a long in EUR/USD at 1.3005 and sold it at 1.3018 only to watch it go to 1.3086 over the next hour. Of course when you try and hold for these type of moves, you give back your 10+ pips plus some additional when your stop gets hit. How do we know … 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
Forex Training: How Long Does It Take To Get Good?
I get this question all the time and it is a good question. People these days don’t have the time to invest years in this business unless it proves to be financially rewarding along the way. There are so many educators and so much information available today, yet it doesn’t seem to change the well known failure rate. So what … Read More
Forex: The Professional Trader is the Prepared Trader
When you turn on your computer each morning and you look at your favorite forex pairs, can you tell me exactly what levels you are most interested in taking action on? Can you give me a good argument as to why you would be looking for longs or shorts at these particular prices? If you can’t answer these two questions … Read More
One’s Over Reaction is Another’s Opportunity
Volatility has ticked up in recent weeks. It’s about time. The major U.S. equity indices and currency markets have presented some sizable intraday movements. Uncertainty is beginning to re enter the markets. This is the time when traders shine the most. This is when the average traders improve and the good traders become great. Investors and uninformed watch their accounts … Read More
Forex: Are Futures better than Spot?
These days traders have so many choices in terms of what instrument they want to use to express their opinion in the markets. There are mini futures, cfds,spot, ETFs, and regular futures contracts not to mention traditional stocks and bonds. So spread capital amongst all these products and combine that with a general lack of trust from the general public … Read More
Forex: Where’s the “Easy” Button?
Many new traders are looking for a trustworthy resource that will hand them a strategy with a high percentage win rate, a stellar track record and a very short learning curve. This is reminiscent of the many attractive young women in New York City today who according to their online dating ads all seek the same guy: tall, handsome, full … Read More