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
Trading strategies As you can probably imagine, trading strategies vary according to the individual trader. Despite the differences, each trading plan should display clearly defined rules of engagement for both entry and exit signals. A setup is essentially a repetitive ‘pattern’ that provides a high-probability signal to trade the market. Whilst we recommend noting each … Continue reading How to build a Trading plan: Part Three
Nowadays, modern trading platforms offer a rich diversity of technical indicators – you could say you’re almost spoilt for choice. The Metatrader 4 platform (MT4), for example, comes fully loaded with 30 built-in indicators and 2000+ custom indicators. Unfortunately, this often draws newer traders into unchartered terrain. Understanding the subtle nuances and testing each indicator … Continue reading Top 3 Technical Indicators All Serious Traders Should Know
Do you remember the first time that you came across the financial markets, or more specifically, forex trading? Unless you had a keen interest in economics, it’s highly likely that you were almost immediately drawn to technical analysis (T.A). Those attractively colourful indicators, pin-point accurate support/resistance lines and rumours of other technical traders trading for … Continue reading Including Fundamental Analysis In Your Trading
Mistakes happen. This is a part of life. More importantly, it’s how we learn and progress. Mistakes in the trading business, however, can be costly. In addition to this, it can also discourage newer traders, eventually forcing them to throw in the towel. To help shorten the learning curve, we’ve come up with a brief … Continue reading Common forex trading mistakes
