A plethora of articles and books have been written on what do in order to guarantee success in Forex trading. Here is my take on it: As a Forex beginner, make sure you educate yourself and get a good grasp of the basics of Forex trading; Educate yourself on different trading strategies Read more »
The World of a Forex Newbie? Bearish Wombats and Bullish Aardvarks? Oh my!
Coffee in one hand, cigarette in the other, I watch the candles move. They blur, taking on a life of their own as the monster breathes. Uptrend, downtrend or ranging; the candlesticks remain in continuous motion as this beast meanders along its path. Regardless of the speed, volume or movement, rest assured (or not) the market makers are pulling the strings, because it is they who control this beast. Read more »
Buy and Sell Zones Part 2
My last article in the series looked at horizontal trading ranges. Another way in which buy and sell zones can be identified and traded is with the use of trendlines. A trendline does this by emphasizing important support and resistance points that, once broken, represent a reversal from bulish to bearish, and vice versa. A very popular pattern that results as price moves from one zone to the next in this way is a ‘head and shoulders’ pattern. The chart below shows the pattern, and is also labeled with general guidelines for trading the buy and sell zones which result from the Read more »
Wisdom from a Future Forex Millionaire
I received this email today from a valuable member of our trading room. I've seen him in the room go from asking "newbie" questions to providing his own (accurate) pair analysis. He will reach the seven figure level in due time as long as he keeps up this kind of progress and discipline. With his permission, I'm sharing this because I really feel this will be of value to others. Read more »
Forex Terminology For The Beginner, Part 2
This is a list of useful Forex terminology, which I believe is particularly useful for the beginner trader, and is an essential part of getting a good grasp of the Forex basics : Read more »
Forex Terminology For The Beginner
For the Forex beginner, navigating through the vast expanse of unfamiliar terminology used in Forex trading can definitely prove to be a confusing endeavor. Here, I have compiled a list of common terms used in trading, and a brief definition for each: Read more »
A Great Way To Build Self-Discipline in Trading
Losses in the market are unavoidable, but there here is a way to help us to stay in the game in spite of possible strings of losses. This is also a good way of building the all-important self-discipline, and also to avoid the negative emotions of that accompany a fast-dwindling account balance. This is important for the seasoned trader, but especially so for the Forex beginner, as he attempts to build trading survival skills. Read more »
Is There a Magic Formula To Forex Trading Success?
A plethora of articles and books have been written on what do in order to guarantee success in Forex trading. Here is my take on it: As a Forex beginner, make sure you educate yourself and get a good grasp of the basics of Forex trading; Educate yourself on different trading strategies, or methodologies. There is a learning curve involved, and everyone’s is different. Do not compare yourself to other traders. Do not rush the process. Read more »
Which Trading Strategy Is The Best One?
In the quest to become a successful Forex trader, one of the major factors that have to be considered, is the trading strategy to adopt. While many people tend to be eclectic in their approach, there is significant potential for harm if this is done by a beginner trader who alternates between swing/ position trading, scalping, and day-trading. A trading strategy needs to be compatible with one’s personality type; Someone who is generally analytical, and needs time to decide on trades would probably not be very suited to scalping. Likewise, someone who has difficulty holding trades for extended periods will find it arduous to be a position trader. It is however, not uncommon to find experienced traders who are able to use different trading strategies without conflict. Read more »
Is The Forex Dream a Lie?
The Forex is an ever-expanding phenomenon and each passing day sees a new influx of ‘newbies’, or Forex beginners seeking to realize the Forex dream. Are these enthusiasts doomed to a big disappointment? Is there a way to lower that highly intimidating statistic of a 90% failure rate? I believe there is! Read more »
