Have you ever had one of those trading setups that boasted a staggering amount of confluence fail in dramatic fashion? You know the kind of setups that wouldn’t look out of place as wallpaper on your mobile phone! Of course you have. We all have! One reason the area may have fell flat could have … Continue reading The importance of an Economic Calendar
Goal setting Having something to strive for should be an essential part of your trading plan. It is how we develop and ultimately progress. Goal setting is a component that should not only focus on financial objectives; it should also look at developmental goals as well. Some examples of developmental goals might be: Sticking to … Continue reading How to Build a Trading Plan: Part Four
As briefly highlighted in part one, the staple behind any respectable trading plan will place a strong emphasis on risk and money management principles. What is your overall market risk? Overall market risk is the maximum permissible amount of capital at risk at any one time. As an example, let’s say that we have set … Continue reading How to Build a Trading Plan: Part Two
Plotting support and resistance levels is often a challenging and subjective task. It is also commonly one of the first areas of price action new traders attempt to tackle. Support and resistance can be established in numerous ways, such as: trendlines, moving averages, pivot point levels, Fibonacci levels, key high/low points etc. A common complaint … Continue reading Using Psychological Levels in your Trading
‘But out of limitations comes creativity’ – Debbie Allen. Ten years ago, smartphones did not exist. Three decades earlier, no one even owned a computer. Today, however, nearly everybody is connected. Thanks to this technological advancement, creating an alternative source of income through trading is appealing. Despite the appeal, many traders, particularly those new to … Continue reading Is It Possible to Trade Forex Part Time?