Taking your first live forex trade

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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

An Introduction to Greed and Fear in the Financial Markets

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‘Three great forces rule the world: stupidity, fear and greed’ – Albert Einstein. Greed and fear, two opposing emotional conditions, are principal drivers that have a profound impact on our lives. And unless you’re a robot coated in human skin, dealing with greed and fear is inevitable in trading. Greed and fear: a brief history … Continue reading An Introduction to Greed and Fear in the Financial Markets

Traits of a successful trader

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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

Thinking in Probabilities

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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

Identifying Support and Resistance in the Foreign Exchange Market

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Markets move in the path of least resistance Two of the most widely discussed concepts in the field of technical analysis are support and resistance levels. Without understanding these critical components, trading is generally a frustrating endeavour. At first glance, the concept behind support and resistance makes sense, some would even say simple. However, you’ll … Continue reading Identifying Support and Resistance in the Foreign Exchange Market