The lack of a proper trading plan which includes precise rules for entering and exiting a trade will most certainly guarantee failure over the long term. Beginners usually suffer from the same common ailments. They abandon trading plans purely on impulse because things are not going exactly as how they had envisioned. Repeatedly they use [...]
What is Metatrader?
May 20, 2013 By 1 Comment
MetaQuotes Software Cooperation developed MetaTrader, a trading API platform which specializes in manufacturing financial markets software. When this was written, the MetaTrader 5 or MT5 was the newest version but MetaTrader 4 or MT4 is used widely still. The MetaTrader package has for brokers, a server backend and for clients, trading terminal. The whole software [...]
Being Comfortable Sitting on the Sidelines
May 19, 2013 By Leave a Comment
i.e. why I haven’t gotten back into the Euro since November. I’ve gotten beat by my emotions before. I had a disciplined trading system and I decided to deviated from the system based on what I was feeling. If I was anxious to trade or if I felt that I had to trade each day, [...]
The Importance of Seminars to Boost your Financial Knowledge
May 19, 2013 By Leave a Comment
In light of the tough economic times, learning how to wisely manage and invest your money has become even more crucial to your financial solvency. Financial seminars promise to provide you with an in-depth look at your investment options so that you can make an informed choice about your finances. Use this article as a [...]
Mid Week Trade Reflection
May 17, 2013 By 5 Comments
I’ve decided not to place a trade today mostly for the reasons I’ll explain below. If you can look at the pictures for the three currency pairs I’ve chosen and figure out why you are well on your way to being a technical trader. Euro vs Dollar This is a shot of the Aussie Dollar [...]
Trailing Stops are Like Insurance
May 15, 2013 By 1 Comment
In forex, trading without a stop loss is pretty dangerous. I remember when a friend and I were trading and suddenly the internet went out. We were freaking out! What was the market doing? Were we losing all of our account balance? If we had placed an immediate stop on the order, we would have [...]
