An Evening Forex Trade
This video was about a conversation I had with another trader. After talking to him I looked at my charts on the longer time frames and could see that it would be best to wait for better signals before entering a trade. When the whole picture unfolded you can see what happened.
March 28th, 2008Emotional Balance
Have you ever eaten so much of your favorite food that you were sick? Have you ever participated in your favorite activity for so long you needed a break? Have you ever been away from home for so long you couldn’t wait until you could get home? The point is we all should keep balance [...]
March 27th, 2008Should I “Buy And Hold” A Trade Or Not
To buy and hold a mutual fund, stocks, or bonds is a common practice. To buy and hold a currency is not as common even though it can be done. When a trader or investor buys and hold, they are usually looking for more than one type of income. Not only the [...]
March 26th, 2008Timing Is Crucial
We talk a lot about trading in the direction of the trend on the 4-hour chart. That is still one of the key elements of successful trading. It is not only important to follow the trend but you should be aware of a strong trend vs. a weak trend. This can be [...]
March 25th, 2008Controling Risk
Some people say you should not risk any more than 2 percent of your account on any one trade, while others say between 3-4% is max. One thing is for sure, you should be conservative. We feel you should never risk any more than 5 percent of your account on any one trade. We [...]
March 24th, 2008Do I Have The Right Kind of Money to Trade The Forex Market?
One of the best ways to lose your money is to try and trade when you need the money to pay bills. You do not have any room for a draw down. If you have a loss then you try harder to make it up to reach your required objective. When you [...]
March 21st, 2008Why a Trade Journal?
How many trades do you have to make to determine what you are dong right or wrong? If you do not keep a trade journal there is no telling how long it might take to uncover a good trading skill or a destructive trading habit. There are many people that just keep trading with out [...]
March 20th, 2008Which Is Most Important: Money To Lose Or Time To Learn?
When you open your live account decide on the amount of money you can and will lose before you stop trading and go back to learning. Better yet, learn to trade first. Do not decide to stay in the market until your first nest egg is gone. Experience shows that many who have been at [...]
March 19th, 2008Noise in The Forex Currency Market
What is noise? Noise is when the market is moving up and down in short moves. This can be seen in smaller time frames very easily. For example, on the 5-minute time frame you will see the market move in 10-15 pip cycles, then it moves for 20-25 in one direction or [...]
March 18th, 2008To Hedge or Not to Hedge
When I first started trading and heard about hedging I thought it was a great idea. Since then it has been a nightmare on a few occasions until I stopped using that trading method. The only way I have been able to trade out of a hedge was when it was small, less [...]
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