From a psychological standpoint, taking trades on a demo account compared with trading in the live market are two completely different animals. Think tame house cat and wild lion! Regardless of how long one has successfully been trading on a demo account, pulling the trigger when hard-earned money is on the line is emotional for … Continue reading Taking your first live forex trade
Financial markets are driven by two powerful emotions – greed and fear’. This is an old Wall Street saying we’ve heard more times than we care to remember, but still holds true today. Whether one admits it or not, greed and fear are two drivers that have a big impact on our lives. Unfortunately, these … Continue reading Greed and Fear in Trading
Trading, especially to the unaware, is generally intimidating. Some would even go as far to say that it’s frightening! Over time we’ve heard it all: ‘participating in the market is a sure-fire way to lose your shirt’, ‘the market is rigged’, ‘it’s gambling’ – the list is endless! So why, if all the above is … Continue reading Traits of a successful trader
In this day and age, becoming an independent financial trader is easy. You just need some capital and a brokerage account, and voilà, you’re a trader! The only problem is, trading the markets is not quite so straightforward! First steps Before anything else, you’ll need to ask yourself WHY you want to become a trader. … Continue reading Do you want to be a Trader?
Did you know that you do not have to be right each time you interact with the market? Heck, you don’t even need to be correct 50% of the time to bank a profit in this business! Once one has mastered a setup with an edge, trading should, to a point, be no more than … Continue reading Thinking in Probabilities