What separates good traders from bad traders? A good trader realizes that trading is patience, discipline, and requires a trading approach adapted to their specific psychological profile. A good trader concentrates on the PROCESS of trading, and not just on the result. Here’s a list of other things that good traders do: What Good Traders Do A good trader knows if they… Continue reading What Makes a Good Trader?
Month: October 2022
Tips for Forex Trading Beginners
As a beginner, you’ve taken your first steps towards learning the basics of forex trading. But it only gets harder from here. Just like learning how to walk, you have to take baby steps, and in between, you will fall, but you get back up and press forward. If you’re trying your hand at forex trading for the… Continue reading Tips for Forex Trading Beginners
How to Lose All the Money in Your Trading Account in 10 Days (or Less)
Do you want to learn how to make all the money you just deposited in your trading account quickly vanish? In 10 days or less? Here’s a step-by-step guide: Step 1: Buy a super expensive computer. Don’t forget to buy at least six 27” UltraHD 8K monitors and mount them all on a magnificent monitor stand so that you… Continue reading How to Lose All the Money in Your Trading Account in 10 Days (or Less)
5 Deadly O’s of Trading: What Traders Do To Guarantee Their Own Failure
Did you know that the five deadliest factors that cause traders to fail are self-inflicted? Many traders self-sabotage their own trading and may not even be aware they’re doing it. When their account goes to zero, they have nobody to blame but themselves. While it might be too late for these traders, fortunately, it’s not too late… Continue reading 5 Deadly O’s of Trading: What Traders Do To Guarantee Their Own Failure
Summary: Currency Correlations
Like synchronized swimmers, some currency pairs move in tandem with each other. And like magnets of the same poles that touch, other currency pairs move in opposite directions. When you are simultaneously trading multiple currency pairs in your trading account, the most important thing is to make sure you’re aware of your RISK EXPOSURE You might believe that… Continue reading Summary: Currency Correlations
How To Calculate Currency Correlations With Excel
As you’ve read, correlations will shift and change over time. So keeping on top of current coefficient strengths and direction becomes even more important. Lucky for you, currency correlations can be calculated in the comfort of your own home, just you and your most favorite spreadsheet application. For our explanation, we’re using Microsoft Excel, but any… Continue reading How To Calculate Currency Correlations With Excel
Be Careful! Currency Correlations Change!
The forex market is like a schizophrenic patient suffering from bipolar disorder who constantly eats chocolates, experiences extreme sugar highs, and has volatile mood swings all day long. We’re not even exaggerating. Although currency correlations between currency pairs can be strong or weak for days, weeks, months, or even years, they do eventually change and can change when you… Continue reading Be Careful! Currency Correlations Change!
5 Reasons Why Factoring In Currency Correlations Help You Trade Better
Currency correlation tells us whether two currency pairs move in the same, opposite, or totally random direction, over some period of time. When trading currencies, it’s important to remember that since currencies are traded in pairs, that no single currency pair is ever totally isolated. Correlation is computed into what is known as the correlation coefficient, which… Continue reading 5 Reasons Why Factoring In Currency Correlations Help You Trade Better
Are You Doubling Your Risk Without Knowing It?
When you are simultaneously trading multiple currency pairs in your trading account, always make sure you’re aware of your RISK EXPOSURE. For example, on most occasions, trading AUD/USD and NZD/USD are essentially like having two identical trades open because they usually have a positive correlation. You might believe that you’re spreading or diversifying your risk by trading in different pairs,… Continue reading Are You Doubling Your Risk Without Knowing It?
How To Read Currency Correlation Tables
Are you a visual learner? Do you like looking at sexy women or hunky men? If so, perfect! Take a look at the following tables. Each table shows the relationship between each main currency pair (in orange) and other currency pairs (in white) over various time frames. Remember, currency correlation is presented in decimal format by a correlation coefficient,… Continue reading How To Read Currency Correlation Tables