Forex Psychology

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Trader's psychology is the main driver of the markets: Greed and Fear were the two main forces already signaled by Jesse Livermore as the main culprits of the traders' failure. In this section, we present the best education on psychology to help our readers master their minds and control emotions while trading. We will dissect the main tasks of trading, analyze the psychological elements of risking and how the mind behaves under situations of uncertainty. We present also techniques to control stress. A section will be dedicated to losses and how this element of the trading profession has its roots in psychology. Another section is dedicated to the development of discipline. Finally, we explain the process to make sound decisions.

Winning…and Winning Badly

By now, you started trading actively, did some research regarding trading tactics, and watched numerous helpful and educative videos which helped you sharpen your...

Tips for Getting Past Trader’s Block

No doubt that at some time in your life you have heard the phrase “writer’s block”. It is normally where a writer losses their...

How to Prevent FX Trading from Being Overwhelming

On the outside, trading looks pretty straight forward, you just guess whether the markets will go up and down, easy right? That is the...

What Is Your Body Trying to Tell You While Trading?

Forex traders often think that trading is all about your mind, it is your mentality, your intelligence, and your discipline that will make you...

Desperation: The Destroyer of FX Trader’s Dreams

We have seen people burning up on jobs, screaming “I can’t work on this job anymore I have to get out!” We've also seen...

Why Does Forex Create a Self-Maximization Mindset?

How can you diversify your income streams and improve yourself at the same time? It's decision time. It's time to decide whether you are going...

Trader Personality Test: Find your Pros and Cons

This concept that we will discuss here is not new. Personality Tests are used when hiring new employees. It is not all about the skills they may have, the employer may want his staff to have certain personality traits for the task in mind or company culture. Companies know that they may perform better for the role, sometimes even the skills and knowledge are secondary. Traders are independent, they do not have anyone superior, their performance is easily measured. The forex market will be their judge and a reflection of the effort, personality, and experience.

The Lifestyle of Forex Traders

What is like to be a professional forex trader? Not long ago, we had an interview with a high-profile forex trader named Arnold, he was speaking about the motives and transitions he was going through, why he became a trader and how that decision affected his life. When we asked him how he discovered forex, he said that in his mid-twenties he worked as an assistant manager at Abercrombie & Fitch store in London, drinking around with his lads, and always struggling to support his living. One day on his way back home, he was in the metro sitting next to the nifty guy and noticed him playing some strange video game on his mobile phone. He was curious so he politely asked a guy about the game.

Four Ways to Boost your Confidence while Trading

Similarly to when opening up a new business, trading requires a certain level of confidence in oneself to succeed. Confidence is the pillar of...

Why Trading Discipline May Not be Enough

Let's say you are an experienced trader, trading on the Daily timeframe. You are long on the EUR/USD, as per your system signal, you...

Guidelines for Successful Trading

Introduction

Do Not Let Your Losing Trade Chase You

Trading depends a lot on a trader’s mindset. It does not matter theoretically how strong a trader is. If he does not know how...

The Road to Become a Pro: The Trading Job Part 1

Except for elementary tasks, to do a job properly, it is commonly subdivided into several tasks or processes, each of them optimized to get the best results. To succeed in Forex trading, people need to think about trading as a job made up of several processes that the trader needs to do every day. 

The Road to Become a Pro: Preparation

I see a lot of people approaching the financial markets as a way to get a second income or even be financially independent. The major part of them wants to invest in the financial markets but don't have the time or interest in mastering the needed skills to really succeed. 

What does it take to Replicate Success?

Replicating something is done by taking a model and copying it. To become a successful trader, beginners should replicate, or model, a successful trader. But what does it take to replicate Success?

Trading Psychology -Are you a Trader?

What defines you as a trader? What is the secret ingredient that makes an ordinary person a trader?

Trading Psychology: Learn the Art of Getting Over a Floating Losing...

In today’s lesson, we are going to show an example of a trade setup, which tests our psychology and ask us a big question. This situation is something that often happens with traders trading on the major pairs. We try to find out the answer to what we shall do in such a situation.

What Wastage of Time!

The H4-H1 combination is one of the best combinations to trade for intraday traders. The H4 chart is the most consistent intraday chart in the Forex market. The H1 chart integration with the H4 chart offers many reliable entries. However, it is often seen that the H4 chart doest its part, but the signal never comes on the H1 chart. In today’s lesson, we are going to demonstrate an example of an H4-H1 chart combination, which is about to give us entry, but it ends up not producing a trading signal. Let us find out how the story goes.

Having the Mindset to Deal with a Frustrating Situation

Patience is one of the most essential components of Forex traders. Traders are to keep patience in every single second. Before triggering an entry, a trader is to find out

Experiencing a Losing Trade

A losing trade hurts. Beginners find it tough to encounter losing trades. However, in the Forex market, losing is inevitable. The market is so action-packed that even an experienced trader

A Strategic Plan for Trade Management

I've already stated my view that most wannabe traders put their focus in technical analysis of the market and on trading signals, mostly provided by others, hopefully, more knowledgeable than

A Lesson from a Failed Entry

In today’s lesson, we are going to demonstrate an example of a failed entry. We usually explain winning trade setups in our lessons. It teaches us how to win a

Do Not Change Your Demonstrated Strategy Out of the Blue

Forex market is appealing to the traders. It operates 24/5, and it is the most liquidate financial market. It offers numerous trading opportunities to traders of all sorts. Since it

Taking Forex Trading as a Business

Forex trading is a hard business. A trader has to work hard to learn the algorithm of it as well as psychologically strong enough to apply them when it comes

Know The Two Systems Operating inside Your Head

In the introduction of his book, "Thinking fast and slow,"  Daniel Kahneman presents a face with an expression similar to the following image as an example of your mind

Two Mistakes Novice Traders Should Avoid

On this article we are going to discuss two mistakes novice traders should avoid to succeed in the financial markets. Reading a book about trading or a strategy article on