Tag: Forex Tips

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Beginners Forex Education Forex Money Management

Three Key Reasons for NOT Taking A Trade

We all love trading and having time to analyze the charts can become a little tiresome if you have been at it for hours and there re no setups to suit your entry conditions, for both beginners and professionals, this can lead to mistakes being made or a desire for the excitement of a trade, […]

We all love trading and having time to analyze the charts can become a little tiresome if you have been at it for hours and there re no setups to suit your entry conditions, for both beginners and professionals, this can lead to mistakes being made or a desire for the excitement of a trade, […]

We all love trading and having time to analyze the charts can become a little tiresome if you have been at it for hours and there re no setups to suit your entry conditions, for both beginners and professionals, this can lead to mistakes being made or a desire for the excitement of a trade, but sometimes it is better to not take that trade, here are a few reasons why.

The market does not suit your trading strategy.

When you create a strategy, you also create a certain set of requirements from the markets, in order to open into a trade, the market must meet your preset entry conditions. The markets don’t always want to be friendly with you if your strategy involves trading the uptrend, but the markets are currently moving sideways, it clearly has not met one of your main criteria, so why would you enter the trade?

Sometimes it can take hours or even days for the markets to get into position and in line with your strategy, give it time, do not jump into trades that are no in line with your strategy, or you will quickly see how the mistake of entering the markets at the wrong time could cost you dearly.

You are bored.

The trading markets can be incredibly exciting, so much so that when you rent trading you are either thinking about it or don’t know what to do with yourself. This is not the time that you should be looking to trade, if you are feeling bored and tempted to enter a trade, make sure to stick to your strategy, do not trade for the sake of trading, it will only lead to losses.

You have just lost some trades.

The main downfall of many traders or gamblers or any other form of trading or gaming in life is chasing losses. When you see a story on the news or no website of someone losing everything or getting into debt from trading or gambling, it is often because they ave been chasing losses. This often occurs in the form of losing a trade, then making a larger trade to hopefully win back the lost value, if that loses, an even larger one is made. This is often known as a Martingale strategy or can also be incorporated into a grid strategy.

Do not do this, if you have made a number of losses in a row, then something has gone wrong somewhere, analyze your strategy, find out what has gone wrong and improve on it, do not trade just because you have lost a bit of money.

Remember, there is nothing wrong with not trading for a few days, if the markets do not suit your strategy then do not trade. If you really have that urge, then use a demo account. The forex markets will always be there and there will be appropriate trades, it is just about waiting for the right moment to take them.

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Beginners Forex Education Forex Basics

Is Forex Really Just a Game of Probabilities?

Many things in life are all about probabilities, forex is no different. The most well-known game of chance is the simple coin flip, it is thrown up into the air and you need to say whether it will land on heads or tales, a 50 50 chance, breaking down the markets into their basic form, […]

Many things in life are all about probabilities, forex is no different. The most well-known game of chance is the simple coin flip, it is thrown up into the air and you need to say whether it will land on heads or tales, a 50 50 chance, breaking down the markets into their basic form, […]

Many things in life are all about probabilities, forex is no different. The most well-known game of chance is the simple coin flip, it is thrown up into the air and you need to say whether it will land on heads or tales, a 50 50 chance, breaking down the markets into their basic form, there are only two possibilities on the direction that the markets will move, there is a 50% chance that the price will rise, and a 50% chance that the price will fall, but it isn’t that straight forward.

Every aspect of analysis within the forex markets adds a little probability one way or another, so the analysis is all about finding all the possibilities that there are and putting them on either the buy-side or the sell-side.

So what sorts of things could be seen as these probabilities? Well, everything, the current trend, news events that are coming up, the market sentiment, any analysis tools that you are using such as Bollinger Bands, Fibonacci levels and so forth all add to the probabilities that you have.

Probabilities also come into your trades, you have spent time creating that strategy that you are using, it has a 70/30 win/loss ration, so with the current market conditions you have a 70 probability of a win, you may lose two or three trades in a row, but the law of probability will dictate that you will win enough to bring your ratio back up to 70/30. One bit of newbie psychology is that a lot can put a dent into your confidence and can make you doubt the strategy, but looking at it from a mathematical perspective, you are in good shape for profits and will continue to win.

Being able to think of trading as a game of numbers rather than your actual money is the best way going forward, this will allow you to concentrate only on those probabilities in the long run and not individual wins and losses. Professional traders are not worried about the next trade winning or losing. What they care about is making money long term and over time. They want to maximize their profits by thinking in probabilities. Your edge, applied with consistency, should allow you to inch the probabilities of a winning trade slightly in your favor, this alone is what will allow you to win over time.

We know it is hard, but look at trading as small sections of probabilities, it will help to improve your trading and also help to take some of the emotion out of it.

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Beginners Forex Education Forex Basics

Are You Using these Excuses to Avoid Trading?

Actually starting a task is often seen as the hardest part, once you have gotten going, things are pretty easy. So why do we find it so hard to actually start a task? Why do we always look for excuses to do the housework or some exercise? These excuses do not avoid trading either, there […]

Actually starting a task is often seen as the hardest part, once you have gotten going, things are pretty easy. So why do we find it so hard to actually start a task? Why do we always look for excuses to do the housework or some exercise? These excuses do not avoid trading either, there […]

Actually starting a task is often seen as the hardest part, once you have gotten going, things are pretty easy. So why do we find it so hard to actually start a task? Why do we always look for excuses to do the housework or some exercise? These excuses do not avoid trading either, there are a number of different excuses that people use to stop themselves from starting to trade, either actually trading or beginning to learn about it. So let’s take a look at some of the more common excuses that people make in order to avoid trading.

Not Enough Money

This is one of the more acceptable excuses, not having enough money could make it impossible to actually start trading, what it doesn’t do though, is prevent you from learning, considering that learning is the first part of trading, there is no reason why you cannot begin doing this while you save up some money. As the years’ progress, however, the excuse of not having enough money has become almost obsolete, there are brokers allowing you to open up accounts with just $10, we know that you cannot execute proper risk management with such a small account, but it is a way to begin and to get a feel for the live markets.

Not Enough Time

When you talk to a professional trader, they will often tell you how long they have to trade each day, how much of their time it takes up just for them to break even. This may be true for those that are doing it full time, but when starting out you are not going to be looking to make up your wage, you are simply there to learn. There is more than enough time to dip your toes in after a usual job, spending an hour or two per day is more than enough to analyse the markets and put some trades on, once the trades are on with a stop loss and a take profit, there is no need for you to stick around, get on with whatever it is that you need to do and allow the trade to do its thing. Yes, you need a lot of time to be a professional, but certainly not if you are just starting out as a beginner.

It’s Too Complicated

I would agree with this statement if there weren’t 1,000 different user-friendly resources out there that can teach you pretty much every aspect of trading. If you were just thrown into the markets with no information, then yes, it being too complicated would be a very valid excuse, but in this day and age, the excuse is no longer valid due to the resources out there. In fact, there are courses that walk you through the trades in person, there can’t be anything more straight forward than that.

Trading is all about learning, taking time to read and understand what is going on before jumping int other markets will help things seem a lot less complicated, any guide or advice would be to learn and demo before going live. Doing this will help you understand what is going on and everything will be a lot clearer for you, read, learn, and then trade, nothing complicated about that.

It’s Gambling

One of the misconceptions is that trading is a form of gambling, from the outside it looks like the markets can just go up or down, of course, in reality, there are far more probabilities that you need to take into account which tips things in one favour or another, there are reasons why the markets move and knowing them greatly reduces the risks. Of course, there are some risks, but there are also a number of different risk management techniques available that people can use to reduce the potential risk that they are in and to protect their accounts. So from the outside, it may look risky and like gambling, but once you gain an actual understanding of what is going on, it is clear that there is an amount of strategy behind it, if there want then why would there be so many different strategies out there? Don’t forget that there is risk in everything you do in life from crossing the road to trading the markets, life is about mitigating those risks and this is more than possible with trading too.

It’s a Scam!

More often than not, things that involve money that you do not necessarily understand would be classed as a scam, it is too good to be true and so it is a scam. However, with a little learning and knowledge of what trading is, you will understand that it is not a scam. A lot of people who jump in and then lose will call it a scam, but this is simply down to their lack of understanding about what they were doing and how things work. Many brokers out there are regulated by various different regulatory bodies based all around the world, these pout restrictions on what brokers can do and also offer certain protections for your money, why would there be government-backed agencies regulating something that is considered a scam?

Having said that, there are scams out there, certain trading systems or products that promise to make you money in trading, some are real, some are not, so it is best to avoid them outright, if you put the effort in and learn how trading works so you can trade yourself, trading is certainly not a scam and not something that you should avoid just because you think it could be too good to be true.

So those are a few of the reasons why people may try to avoid trading or starting to trade, while from the outside they do seem like valid concerns, in reality, they are not, trading is becoming more and more accessible and easy to pick up, the only person or thing preventing you from trading is you. So if you are thinking of trading, jump in, start reading, its easy, quick, and free to learn and use a demo account.

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Forex Education Forex Psychology

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 inspiration and is unable to create any new work, these blocks can vary in their severity, sometimes lasting for minutes, and with some lasting years. Anyone can suffer from writer’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 inspiration and is unable to create any new work, these blocks can vary in their severity, sometimes lasting for minutes, and with some lasting years. Anyone can suffer from writer’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 inspiration and is unable to create any new work, these blocks can vary in their severity, sometimes lasting for minutes, and with some lasting years. Anyone can suffer from writer’s block, in fact, there have probably been timers in your life where you have needed to complete some work, whether it is written or otherwise and you have gone completely blank, you have no idea what to write or do, this is a form of writer’s block.

So how does this relate to trading? Well just as writers do, traders also get these blocks. These sorts of blocks can sometimes occur after a large win or loss, it can be caused for a number of different reasons, maybe you feel that you cant replicate the last big win, or you have a fear of another large loss, the block can simply palace you, not being able to get into the trade or even no longer being able to analyse the markets the same way that you used to, both of these things can prevent you from making trades even though you know you should.

So how do you manage to cope with trader’s block and what can you do to start getting over it? Firstly we will mention what not to do, as a traders block is the simple thing of not being able to put on a trade, do not try to force them, do not try to put on trades regardless of the markets conditions or your analysis, yes this will get you trading again but if we are being honest, it would just be a gamble. This sort of reckless trading will only lead to more issues and potential losses.

You need to be able to take things slowly and to start again from the beginning as with traders block, the more you struggle with it, the harder it will become to get out, much like quicksand, the way to get out is to relax rather than struggle. So the first thing that you need to do is to take a step back, move away from the computer and trading as a whole, this could just be a short break or a couple of days, you need to be able to try and clear your mind of what is causing the block, the memory of the big loss or thoughts of not replicating a large win, distract yourself with something else.

Now that you have a slightly clearer mind, we can go back to the beginning, we need to start fresh, you have a trading system that works, so we aren’t going to change anything in the way that you work or trade, what we will do though is going straight back to the start of that system. This is a way of re-learning what you know about your strategy and trading, re-learning it will give you the confidence and bring back your understanding of the system to help you begin trading again.

So now you have your strategy and the basics fresh in your mind, you can begin to look at the charts again, using your strategy and the analysis behind it, look for a trade based upon them. Remember that trading should be an emotionless thing, it is hard but it is the way it needs to be. With these initial trades keep the size small, this will help you get over the initial block, as the risk is lower so it should be easier to apply.

There are however those that experience a really strong version of traders block when walking away and trying out their old strategy just does not help. If this happens, the best thing that you can do is start over, well not entirely. Looking up a new strategy and learning it can help you to take the thoughts and memories of the previous strategy that caused the block out of your mind. Learning from scratch can renew your confidence and also motivation for trading as you are learning something new and fresh, this can give you a much fresher perspective of the markets. Once this has been done and you are up and trading again, you may be able to then move back to the previous strategy to try again, more often than not, you will now have the confidence to use this strategy again.

It is always hard to get over a trader’s block. In fact, it has the potential to completely derail your trading. It is all about rebuilding the routine that you had before, once you are able to get back into the rhythm of trading it will be far easier to get back into the system of trading that you used before. It is also worth remembering what you did and how it felt, as traders block has a habit of recurring and coming back, so if you have it in your memory what you did to get out of it, as well as the understanding that you can get over it will help you in the future should it occur again.

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Beginners Forex Education Forex Basics

What You Can Expect to Learn During Your First Year of Trading

When you are just starting out, you don’t really know too much about trading, after a year, we would hope that you know a little bit more. There are a number of things that you only really learn by actually trading, reading and studying the markets is a fantastic way to start, but there really […]

When you are just starting out, you don’t really know too much about trading, after a year, we would hope that you know a little bit more. There are a number of things that you only really learn by actually trading, reading and studying the markets is a fantastic way to start, but there really […]

When you are just starting out, you don’t really know too much about trading, after a year, we would hope that you know a little bit more. There are a number of things that you only really learn by actually trading, reading and studying the markets is a fantastic way to start, but there really is no substitute to the experience and learning that you get from actually trading.

So now we are looking at a few different things that you only really learn from trading and hopefully things that you would have learned within the first year of your trading experience.

Sticking to Your Trading Plan

This was most likely drilled into your mind before you actually started trading, but as you actually trade and as you make mistakes, this should have been cemented in there. Every single mistake that you made, and you would have probably made a lot of them, would have reminded you that you should be sticking to the plan that you created.

Your guidelines and rules are there for the reason of keeping you on track, ensuring that you remain profitable even with losing trades. After a year, you will know exactly how it feels to lose and how it feels to win, you would have experienced what happens when you break one of your trading rules and you will know what it feels like to win. Sticking to your plan is how you remain profitable and win in the long run, after a year of trading you know this and so find it a lot easier to stick to that plan.

Of course, with the year of experience, your plan will be at a much better stage than it was when you started, as you trade you would have continued to adapted it, continuing to change things for the better so that the overall results that it produces are of a much higher standard. Something that only comes with experience and actual trading.

Being More Patient and Having Discipline

One of the hardest things to learn when trading is the discipline and patience that you need in order to trade successfully. When you first started out, you could have had all the excitement and enthusiasm that comes with starting something new, especially when it could potentially make you some money. When you are in these early stages it would have been quite hard to keep yourself in check, to prevent yourself from putting on additional trades through either excitement, greed, or overconfidence.

After a year of trading, you should have learned how to better control those emotions. You are far more disciplined, able to restrain yourself, and not put on any trades that you should otherwise not be putting on. You have a much better understanding that trading is a marathon and not a sprint, so you are able to wait out the markets for the correct conditions to be met, this is such a vital skill and it should have developed nicely after a year of active trading.

Better Risk Management

When you first start trading, you understand what risk management is, but you don’t necessarily know how to implement it properly. A year of trading would have helped you to work it out, mainly through mistakes and learning from getting things wrong. You should now have a really good understanding of how it works and the different methods available to you for keeping your account safe. The fact that your account is still running after a year shows that you have a decent grasp of what risk management is and how it works. You would have worked out the optimum stop loss positions as well as take profit levels for your strategy and also the best trade sizes for your balance. Your overall risk management would have improved and so your account should be a lot safer compared to a year ago when you first started out.

Listening to Others

When you first start out, it is easy to listen to those that you perceive to have more experience than you, however, after a while of listening to people and seeing that their predictions aren’t quite as magical as they initially seemed to be, you will begin to become a little wearier of listening to others. Instead after a year, you are far more confident in your own abilities to analyze the markets and to trust in your own judgment. Listening to others only leads to muddled analysis or bad trading signals, and after a year you will know this first hand and trust your own abilities over those of others.

Treating Trading Like a Business

As a new trader, you would have started your journey full of excitement and willingness to both learn and earn. At that stage of your trading career, you would have been excited, and thus a little bit too eager to put in your money and place some trades. Over the past year of trading, you would have matured in your trading and your outlook. Now you will be treating trading much more like a business. You will be looking deeper into each trade, taking more time to plan your trades and the risk management that goes with it and will be a lot warier of the potential risks of each trade. You will now be looking at trading as a business for your future, rather than a quick way to make a little extra money.

Additional (and More Complex) Strategies

When starting, you would have been concentrating on a single strategy, ensuring that you have an understanding of how it works., The issue with this is that it will only work with specific trading conditions. Now that you have been trading for a year, you would have picked up some knowledge of a number of different strategies that will allow you to trade in multiple different market conditions. This will give you a lot more flexibility and the ability to be profitable at more times during the day, week, month, and year.

So those are a few different things that you may well have learned from your first year of trading. You would have been through a lot of things, learned a lot of new techniques, and had the chance to develop your own understanding and methods for trading. Hopefully, you should be able to see the progress that you have made and can use that as an encouragement to continue to improve and learn over the next coming year.

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Beginners Forex Education Forex Basics

Reasons Not to Compare Yourself to Other Traders

This is all about distractions and is relevant to any aspect of life. People often look at others to see how they are doing, are they doing better than me? Are they making more money than me? Do they look better than me? The main question we should be asking is “How am I doing?”. […]

This is all about distractions and is relevant to any aspect of life. People often look at others to see how they are doing, are they doing better than me? Are they making more money than me? Do they look better than me? The main question we should be asking is “How am I doing?”. […]

This is all about distractions and is relevant to any aspect of life. People often look at others to see how they are doing, are they doing better than me? Are they making more money than me? Do they look better than me? The main question we should be asking is “How am I doing?”. It shouldn’t matter what others are doing or what trades they are taking, so why are we obsessed with comparing ourselves with them?

There are those of us that look to others for inspiration, this is not a bad thing within itself, gaining inspiration can give you the motivation to try harder, to work harder and to achieve more, but at what point does that become an obsession or when does it start to turn unhealthy? Generally speaking, when we gain inspiration we begin to try and mimic certain things that they are doing, in regards to trading, it may be the trades that they are taking or to try and mimic the profits that they are making.

The thing that we forget is that they have years more experience than yus, they also most likely have a much larger starting bank, so being able to mimic them is impossible, you won’t be learning about why they are making the trades, just blindly following. So what would happen if they stopped? You would stop too and you would have no knowledge or experience to fall back on, this is why it is important to learn along the way, and not blindly follow.

Some may look to others for competition, there is nothing unhealthy about a little competition, you and your friends want to see who can make the most pips, the most profits or to just have the most accurate trades. This in itself is not bad, however, if you are a very competitive person, you may start looking at the results of your competition and then doing things outside of your proven strategy to try and beat them, taking extra trades, larger trade sizes or anything else, these can lead to disaster and take away all the hard work that you have achieved. Stick to your own plan, even ina competition, it has worked for you before and it will work for you again.

If you are observing others who are making tons of money, more than you can imagine, it can have both a positive and negative effect, we spoke about the inspiration, but there is also the negative elements of jealousy or demotivation. Seeing someone else do well can make you want to give up, “Why can they do it but I can’t?”. This can lead to either you giving up completely, or taking rash and dangerous trading experiences.

All of these things are important reasons why you should concentrate on your own trading, don’t worry about others, its fine to look around and see what people are trading, but it is important that you understand why they are trading it and not just what they are trading. Stick to your own plan, has it been working in the past? If yes then there is nothing to change, it does not matter how someone else is doing, as long as you are working to your own strategy and improving your own abilities, that is all that is needed.

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Beginners Forex Education Forex Basics

Trading Expectations That You Should Avoid

When you set out onto your forex and trading journey, you would have most likely set yourself a number of different expectations, either from what you have seen online or that are in line with what you wish to get out of trading. What is important is what the expectations that we set ourselves actually […]

When you set out onto your forex and trading journey, you would have most likely set yourself a number of different expectations, either from what you have seen online or that are in line with what you wish to get out of trading. What is important is what the expectations that we set ourselves actually […]

When you set out onto your forex and trading journey, you would have most likely set yourself a number of different expectations, either from what you have seen online or that are in line with what you wish to get out of trading. What is important is what the expectations that we set ourselves actually are. We do not want to aim them too high, especially if it is unrealistic, we also do not want to set them too low, or motivation could be an issue. So we have come up with a number of different expectations that you should try and avoid.

I will be able to quit my job:

You may be able to, that is true, however, the timescale that you have set yourself is most likely highly unrealistic, many people who trade full time now have been doing it for the past 10 years, they did not get into it and then 6 months later they are a full-time trader. If we look at other jobs, becoming a doctor, there are years of studying and practice required before you can even think about performing on live patients, after that there are years of actual practice. It is exactly the same for trading, you need to learn, practice and then trade, when you begin trading you will be trading small trades and small amounts, not enough to give up your job.

This should not even be an expectation when you come into trading, it may be a reality in the future, but it is not something that you should be thinking of when starting out.

I will learn more if I trade more:

Why? Why would you learn more just because you trade more, there is a pretty important saying of quality over quantity, just because you are doing a lot of something does not mean that you will learn more or even become good at something. Overtrading can lead to a few disappointments, firstly you won’t necessarily be learning anything, secondly, overtrading can put your account at risk and proper risk management is most likely not being applied to each trade.

If you make 1 trade but fully understand why you have made it, it is far more valuable than making 10 and not really knowing what you are doing. Make a trading journal and use it to log everything that you are doing, this helps you keep the quality high and also you will know exactly why you did something, it will also help you to slow down to avoid making too many trades at a time.

I am going to be rich:

Unfortunately, this is an expectation that a lot of people come into trading with, and it has been brought on by the hundreds of adverts or fake Instagram influencers that are out there. They give an unrealistic view of what sort of money you can make, no they do not own those cars, horses, or boats and that money they hold up is all 1s or fake. Yes, you can make a lot of money, but you won’t do it quickly and you will start off making very small amounts, especially when learning.

All of these expectations are things that could, unfortunately, start to lead towards greed, trading too much, wanting too much, and ultimately causing you to lose whatever you have put in. It is important to understand that this is a slow process that takes time, it begins very slowly and takes a lot of effort. Come in with the expectation that you will be learning and starting small and things will start to grow before you know it.

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Beginners Forex Education Forex Basics

Top Tips For Newcomers to Forex Trading

The world of Forex and trading can be a daunting one, it is full of information on how much you can lose, how difficult it can be to be profitable and that it just is not for everyone. While the latter may be true, there are a number of different things that you can do […]

The world of Forex and trading can be a daunting one, it is full of information on how much you can lose, how difficult it can be to be profitable and that it just is not for everyone. While the latter may be true, there are a number of different things that you can do […]

The world of Forex and trading can be a daunting one, it is full of information on how much you can lose, how difficult it can be to be profitable and that it just is not for everyone. While the latter may be true, there are a number of different things that you can do to get yourself off on the right foot. We have gone through a number of different tips that we have that can help you get off the floor running, you may not be able to do all of them, but any combination of them will give you a good headstart over those that are starting completely fresh.

Get the Right Broker

When you first start out trading, you will do a lot of reading, but the first step to actually trading is getting yourself the right broker. There are a lot of them out there, a lot of great ones, but also a lot of bad ones. It is important that you get one that suits you. We feel that it is important that the broker that you use has a good reputation, you can use a number of independent customer review sites, just be cautious of the potential for fake reviews. It is also good to get one that suits your needs and one that definitely offers demo accounts so you can practice with the same broker that you are planning to use once you go live.

Create a Trading Plan

Before you actually start trading, you will need to build yourself a trading plan, this is not something that you can do in a day or two, it will take a while to complete and will involve a lot of modification and alterations as you learn new things or find things that do not work with it. The strategy that you create will include your trading strategy, risk management, and other information about how you will be trading. Begin it early and it will save you a lot of time in the future, you can start to create it as soon as you go through your initial learning as you will be gaining valuable information for the start of a plan.

Start Slowly

Trading is a long term project, it is certainly not the get rich quick thing that you often see advertised so if you are here for the quick win, it may not be for you. Understand before you start that you will be taking things slowly, pick one topic per day, do not try to overload yourself as this will only lead to burnout and frustration. Learn little by little, it is the best way to absorb the information that you are learning and you do not wish to miss anything important. Remember to also go back to the things you have already learned in order to ensure that you have understood it.

Practice

Practice is important, extremely important. We mentioned when looking for a broker, to ensure that they have a demo account, it is these demo accounts that you will be using to practice. They will often be mimicking the trading conditions that the live accounts do, so any strategies that you use on the demo account should have similar (not exact) results on a live account. Any changes that you make to a strategy should be tested on a demo account before you try it on a live account, any change, no matter how small, should be used on a demo account first.

Controlling Emotions

Emotions can be powerful things, when it comes to trading they can be pretty devastating, in fact, it is possible to completely blow the account because you were not able to keep your emotions in check, due to this it is important to learn to control them. There are various ways to do this, through discipline, and dedication you should be able to overcome them. Some of the more damaging emotions include things like greed and overconfidence, however, these can be controlled with the help of the trading plan and your strategy that we mentioned above, sticking to that plan will help you keep your emotions out of your trading.

Set Realistic Targets

You should not be coming into trading with the expectation that you are going to be a millionaire next month, so instead, you need to set yourself some realistic goals When starting out, your goal should simply to finalise your own trading plan, or to be a break-even trader, do not even think about setting profit targets until you are able t break even. Once you are at that stage, you can start to think about making profits, but realistic profits that are actually achievable. Do not set your goals based on what other people are doing, they should be specific to the stage that you are currently at in your trading career.

Keep Learning

You need to keep learning, it is important that you keep on learning, there are always things that you are able to learn, whatever your strategy is, you should always be looking to become an expert at what is involved, it is also important to learn a few of the other strategies, as the markets will always be developing and changing you need to be able to adapt yourself to the changes. Studying takes time, so it is important that you are able to make time for you to do it, you need to have the dedication to trading and learning if you want to succeed. It is a non-stop part of the trading, so you should always be willing to learn.

Remember to Take Breaks

Trading can be stressful, in fact, it can be very stressful and it can cause a lot of potential mental health issues from the isolation and the time it takes. It is important to remember to take breaks, this is an opportunity to clear your mind, de-stress, and talk to others. It is all well and good having the dedication to learning and trading, but if you are wearing yourself out, it will only hurt you in the long run. Trading will be around for a long time, so there is no need to push yourself too hard.

Only Trade Under the Right Conditions

It can be tempting to want to trade all the time, trading is very exciting, it can make you want to trade all the time. The thing is that you have created a trading plan, the plan works within certain conditions, it will not work all the time and it won’t be able to find trades all the time. When this happens, you should not be trading. Instead, you should use this time to learn, do not try to force your trades in conditions that do not suit your strategies conditions.

Plan Your Trades

This ties in with your strategy, it is important that you stick with it and that you use it to properly plan your trades. You need to ensure that the entry criteria. Take profits, stop losses, the risk you will use, all of these things are important for you to recognise and to plan before placing a trade. Planning your trade will help to ensure that you are sticking to your plan and that each trade actually meets your trading plan requirements.

Do Not Overtrade

It can be tempting to overtrade, either through boredom, greed, or overconfidence. Greed often occurs when you just want more, or that you have made a few losses and want to make up the loss. Overconfidence can occur when you have made a few good wins in a row and so you feel that you are able to win more. Whatever the reason is, it will only lead to losses. Do not trade any more than what your train strategy and plan allows. If you trade extra, it will only result in losses in the long run.

Use Stop Losses

Stop losses help you to protect your account, it is a way of ensuring that you are only risking what you need to risk and limit the potential losses. If you do not set stop loss, there is a chance that even a single trade could cause you to lose your entire account. Setting them is extremely important and you should not be trading them without it. When you create your trading plan, you should also create your risk management plan which will detail how much of a stop loss you should be suing, just remember to stick to it

Don’t Be Afraid to Experiment

You should not be afraid to try new things, just remember that we spoke about demo accounts, so if you are thinking of experimenting then you should always do this within a demo account, this way you can test and experiment as much as you want without risking any of your capital. Experimenting and testing will allow you to alter your current trading plan and also create new ones, it is also a fantastic way to learn by doing rather than reading.

So those are a few different things that could help you get started, remember, you may not be able to do all of them, in fact just doing a few will help you to start on the right foot and could help you to become a profitable trader a lot quicker than without.

Categories
Beginners Forex Education Forex Basics

Where to Direct Your Focus During a Losing Streak

People do not like to think about losses, the problem with that is that losses are a major part of trading, they will happen. There is no one strategy out there that is loss proof and you will experience them, you will even experience losing streaks of 2,3 or even more losses in a row, […]

People do not like to think about losses, the problem with that is that losses are a major part of trading, they will happen. There is no one strategy out there that is loss proof and you will experience them, you will even experience losing streaks of 2,3 or even more losses in a row, […]

People do not like to think about losses, the problem with that is that losses are a major part of trading, they will happen. There is no one strategy out there that is loss proof and you will experience them, you will even experience losing streaks of 2,3 or even more losses in a row, this is a part of trading, this does not mean however that you won’t be profitable or successful.

There are a number of different things that you need to think about when you take a loss, some of them will have you questioning your strategy, others your abilities, but thinking about these things will enable you to better understand why you had a loss, or even multiple losses in a row and will enable you to better understand what it is that you need to do in the future to hopefully reduce the risk of having another loss for the same reason. If you are having multiple different losing streaks, then there is probably something that needs changing, not necessarily a major change, just a small tweak could be enough to remove those streaks from your future,

Are there patterns in your trading journal?

When you started out at trading, most places would have told you to keep a trading journal, the entire purpose of the journal is to help you out in this exact situation. As you would have been writing down your entries, exits, reasons for the trade, and anything else that you can think of, you can use this to help look for correlations between your losses and any potential differences that there may be to the wins. It is able to highlight mistakes that you may be making and will allow you to see this and then adapt your future trades to hopefully avoid making them again in the future.

If you are not using a trading journal, start using one, it is the only way to truly understand what your trading habits are and whether there are any similarities when you take a loss, it will allow you to focus on something that is clearly causing you to make a loss and will ultimately make your trading lot more transparent and easy to analyse. Use it and review it, make sure that you also note down any changes that you ake due to the losses, as you need to know exactly what you did and the effect that it had, this was if it works you can continue to use it and if it does not work, there is a record of trying it and the result of the change, so you can avoid trying it again in the near future.

Do you have a trading system?

This may seem like a silly question to you, why would we be trading if we did not have a proper strategy? You would be surprised how many people actually do this, it is mainly done by those that are either new to the trading game or those that have kind of given up and are now just simply gambling and hoping. You need to look back over what you do and what your plan says. Does it have specific entry requirements? Does it have proper risk management on those trades? Does it take losses into account in regards to overall profitability? These are some of the questions that you may need to ask yourself about your trading strategy.

The importance of ensuring that your strategy is complete is vital. The trading system is designed to give you your trading rules and your risk management and is overall designed to help keep you profitable overall and over a long period of time. If you trade without a system, it will only lead to losses, you may get a win here and there from a little bit of luck, but your overall results and your overall account will be in danger and we can be pretty sure that you will end up in the pile of the majority of traders who have tried and failed without a proper strategy in place.

Is your risk managed properly?

Risk, the voodoo word in trading, if you have got your risk management all set up correctly, then you will be able to survive a number of losses, hopefully, a lot of them if set up correctly. You need to think about how each of the losses is affecting your strategy, how much of your account is at risk with each trade? How much is the overall daily loss that you will allow? How Many losses in a row can your strategy sustain with your current leverage and margin levels? These are things that you will need to ask yourself if any of the answers concern you, then there may be something that you need to change.

Risk management needs to be one of the things that need to remain consistent throughout our trading, as soon as you change it, it can result in larger and more damaging losses. This does not mean that it can never change though, it just means that any changes that you make you will need to ensure that the change is there consistently for all future trades. Remember, the risk management plan is there to protect you and your account, ensure it is sorted before you start to trade for real and also make sure that it suits your strategy, there is no point trading with real money without one of these sets in place.

Classic Trading Mistakes

There are a number of different mistakes that people class as the classic trading mistakes, these include things like trading without a journal (we mentioned this above), not using stop losses or take profit levels, revenge trading, letting losers run and having some unrealistic expectations about what you want to achieve and how you will achieve them. These are all things that can lead to losses and will be far more common than you may think.

We would not be surprised if you had made one or more of these mistakes and unfortunately they can very easily lead to losses being main and then sustained. You need to be able to notice when you are making these errors and then correct them, but simply not doing it, that may not seem helpful but it is the truth, you just need to stop. Get your plan, journal, and risk management in place and trade using that, these will help you to avoid a lot of the mistakes that people often make.

The Wrong Expectations

Coming into trading with an unrealistic expectation can have some pretty bad effects on your trading and also the results that it brings. If you set your expectations too high then there is a much higher chance that you will over leverage or over risk your account which can have some very dangerous results, if you set them too low then you won’t see much difference or increase to your account balances. You need to ensure that you have got them set at the right level for both you and the strategy that you have been creating, this enables you to trade at a much more consistent level and you will also see some consistent results.

Is trading right for you?

Let’s be honest here, trading is not for everyone. Some people do not like the stress, others do not like how long it takes to actually become successful, others just simply don’t like the numbers involved in it or the risks that you need to take. There is nothing wrong with this at all, not every activity or job is right for everyone, some people will like it and others will not. If you find that you are getting bored or easily distracted then this is probably not the right thing for you. Having said that, it can also grow on you, give it a couple of months, if after those two months you are still bored or not really looking forward to your next day of trading then you may want to start looking for something else to do with your time as this may not be right for you.

So those are a few of the things that you need to think about when you are making some losses, it can be very easy to get swept up in the anxiety and stress that comes with a loss, but with the right things in place a loss is simply just another step in your trading journey, ask yourself these things, look at your journal to find those connections and work on getting rid of them. Use each loss as a learning experience and you will become a much better and much more consistent trader.

Categories
Beginners Forex Education Forex Basics

Ready to Quit Trading FX? Answer These Six Questions First

Quitting can be tempting, when things begin to get tough, boring or you simply do not have enough time and money, it is very easy to put your trading tools down and walk away. But should you be doing that? Probably not. So why is it so easy to quit? There are a lot of […]

Quitting can be tempting, when things begin to get tough, boring or you simply do not have enough time and money, it is very easy to put your trading tools down and walk away. But should you be doing that? Probably not. So why is it so easy to quit? There are a lot of […]

Quitting can be tempting, when things begin to get tough, boring or you simply do not have enough time and money, it is very easy to put your trading tools down and walk away. But should you be doing that? Probably not. So why is it so easy to quit? There are a lot of reasons for it, but there are also a lot of things that you should be considering before you decide to throw in the towel. So let’s take a look at some of the things to consider before you quit trading.

Are you losing money?

One of the main reasons why people begin to trade in the first place. It can take a long time before you actually become profitable, what you need to be able to do is to consider whether or not you are at the position that you feel you should be for the amount of time that you have put in. Losing money is a normal part and we would consider it normal to still be potentially losing money when you are a year into your trading journal, if you are profitable by then, it is great, but many won’t be. If you are still losing money after two or three years, then maybe it is something that you need to consider. It will take time, but you need to have in mind how long you are willing to give it, you cannot continue for the next 10 years being unprofitable, that won’t be good for you or fun to do at all. So give yourself a timeframe for when you need to be profitable, if you are still not when you reach that point, then it could well be the time for you to consider leaving and giving something else a go instead.

Are you frequently changing strategy?

Another thing that can cause people to give up is simply not sticking to a single strategy for long enough. Most strategies will take time for you to learn them properly and so they will take time to become profitable. If after the first or second loss you are jumping to a new strategy then you may need to consider that you do not have the patience or dedication to become successful at trading. If you want a strategy to work, you need to be able to stick with it for an extended period of time. Not only will this allow it to actually be effective, but it will also increase your confidence levels in using it and trading as a whole. If you are constantly jumping between them, then you may need to find a hobby that doesn’t take so long to learn or to become competent at.

Do you plan your trades?

Many people get into trading without knowing all the effort and time that goes into or at least should go into each trade, and that is a problem. Those that are starting now want to get in and just start trading, you need to consider whether this is you or not. If you are the sort of person that just wants to go in and trade, without planning for it first then trading may not be for you. Trading in that way without the plan will only lead to losses and bad trades, this is not something that you want to be aiming for. Just jumping through timeframes looking for a trade, jumping between different trading signals, and simply not putting the effort in, trading may not be for you. You may get some short term gains, but trading like this, in the long run, will only lead to losses which will kill your motivation, if you are not willing to put the effort to plan your trades, then trading is not for you.

Do you have a trading journal?

I know what you are thinking, why would this be a reason to quit? Well, the simple fact is that if you do not have a trading journal, then you will struggle to ever become profitable. A trading journal is there for you to write down and record everything that you do, the trades, the analysis, the profits, losses, and more. You are then able to outlook back on it in order to find trends or errors in your trading, this allows you to adapt and develop your own trading to help negate any errors that you may have been making. Without one, you are pretty much trading blind, not something that is recommended at all, so if you do not have one and are unwilling to create one, your chances of becoming successful are very slim, and something that you should potentially think of giving up.

Are you excited by trading?

You would think that anyone that trades would be enjoying it, but they are not. Many people have a very black and white mentality, if they are making money they are happy if they are losing then they are unhappy. Then there are the people that enjoy it regardless of the outcome, those are the people that will eventually make the best traders. There are also those people who just do not enjoy it at all, these are the people who find it hard work to actually trade and these are the people who should not be trading at all, if you do not enjoy it, do not do it. Even those that are only happy when winning will struggle at times and may find it too hard to bear when they have multiple losses in a row, which is more common than you may think and everyone will experience these losing runs at some point during their trading career.

Are you expecting to get rich quick?

This is a false expectation that a lot of new traders come with, they have seen all the adverts and the scams stating that they will be able to make a lot of money overnight. If this is you, then we would suggest closing down that trading terminal and walking away, it just is not going to happen. Trading is a long process, if you are just here for the money then you need to move away, again, it just won’t happen, we do not need to say much more than that.

Those are some of the things that you need to consider when you are thinking about quitting. Trading and forex is not an easy thing to do, there will be times when you struggle and times when you are not happy, you need a lot of dedication and it is hard work. If you are happy with all of that then it’s great, it can be a fantastic opportunity for you, but if you struggle with them, then this may not be the hobby for you.

Categories
Beginners Forex Education Forex Basics

Top Tips For Part-Time Forex Traders

There are a lot of people out there that are trading part-time, these traders are doing it after work, before work, between child care or simply just don’t want to put the effort into it in order to become a full-time trade, and that is perfectly fine, many people would not like trading if they […]

There are a lot of people out there that are trading part-time, these traders are doing it after work, before work, between child care or simply just don’t want to put the effort into it in order to become a full-time trade, and that is perfectly fine, many people would not like trading if they […]

There are a lot of people out there that are trading part-time, these traders are doing it after work, before work, between child care or simply just don’t want to put the effort into it in order to become a full-time trade, and that is perfectly fine, many people would not like trading if they did it all the time, so having it as a hobby on the side is perfect. Trading is becoming increasingly accessible to those that would not have been able to trade 10 years ago.

The problem is that trading can take a long time, it can be difficult and it can be a slow process, there are a lot of obstacles that need to be scaled in order to become successful. This makes it far harder for someone who is trading part-time rather than full time. Due to this, we are going to be looking into a few different things that you can do as a part-time trader to help improve your chances of being a successful trader.

Choose a Style that Suits your Schedule

If you work in the middle of the London session, then there is no point in developing a strategy that requires you to work during that session, you just won’t be able to get on. If you arrive home at the start of the New York session then it would be far more appropriate that your strategy reflects this and you trade during that session. The same thing can be said for the style of trading. You have limited time, so do not devise a strategy that requires you to spend an hour plus analysing the markets before each trade, instead you will want one that is slightly more quickfire, this will allow you to fit it into your own schedule and work and home life balance.

Plan Out Your Time

Something that is a very valuable asset to part-time traders is time, there just is not a lot of them and so a part-time trader will need to be able to make the most out of the time that they have. This is more prevalent within the first stages of trading, the learning, and developing of a plan, two of the things that take the most time for any trader. Once you have this done, you need to ensure that you can maximise your time, avoid distractions so that you can be concentrating 100% of the time that you are trading. Ensure that you have something to do when the markets are quiet and slow, learn something, just make sure that you’re not saying they’re doing nothing. Once your strategy and plan are in place, it will become a routine that will make the process a lot quicker and a lot easier to fit into your busy life.

Use Your Commute to Learn

Not everything that you need to learn has to be done in front of a trading terminal or computer. What are you doing on your commute to and from work each day? If you are a driver this is slightly less relevant, but if you use the train or the bus, you can use this time to help you to develop your understanding and mindset. There are a lot of fantastic books out there, books that can help you to better understand what it is that you are doing and why you are doing it. Use this time to read and to learn, get up to date with the world news that could affect the markets. What is important is that you are able to use the time that you have to continue your trading development.

Use a Trade Journal

A trading journal is an incredibly valuable tool for any trader, and even more so for a part-time trader. The trading journal basically details every single thing that you do to do with your trading, the trades you put on, how long you hold the trade for, the result of the trade, the reasoning behind entering and exiting, and much more. The journal can also offer you a lot of valuable feedback in regards to your trading, it helps you to understand whether you are still following your trading rules, it also helps to remind you of both the good and bad things that have happened with your trading and allows you to work out why. Ensure that you use it and use it a lot, it will help you improve on your trading tenfold compared to someone not using one at all.

Developing the Right Mindset

To be honest, this is something that you either have or you do not. The right mindset will enable you to be patient, even when you have little time, you need to be sure that you are not trying to force any trades, you need to be able to be patient, even though the slowest and most boring times. You won’t be in front of your computer 24/7, so you will miss opportunities, just don’t allow that to take over and to then force a trade to make up for it, this will result in your losing more often than not.

Take Part in Trading Communities

You do not have a lot of time to get acquainted with a lot of traders on a personal level, but you can certainly join a number of different trading communities. This will give you people to talk to, people to question things that you are not sure about, and a place to get support when you need it. These online forums allow you to get involved at any time, when you are sitting on the toilet, on your way to work, or in the doctor’s waiting room. It is a valuable resource for feedback and help and something that you certainly should be using.

Prioritise your Trading and Time

You do not have a lot of time as a part-time trade, so it is important that you are able to work out how you will use that time. Prioritize the things that need them. You also need to prioritize your own life, if you have a job and a family, they should always come first, look after what you have before you look for more. Once you are trading, prioritise on your learning and your strategy on what you need to do to improve, not what you think would make you the most money.

So those are a few of the things that could help you as a part-time trader, you may not be able to do all of those things, but the more that you are able to do, the more successful that you will be able to become a part-time trader. It is not an easy process, but if you manage to plan your time and workload properly, then there is no reason why you cannot become profitable and successful.

Categories
Beginners Forex Education Forex Basics

Top 7 Tips for First-Time Forex Traders

Forex trading can be a profitable endeavor, but it tends to be so primarily for those who invest time in education before diving into the markets. Time and time again we see that the best traders are the most educated traders. With this in mind, check out the following tips for first-time traders looking to […]

Forex trading can be a profitable endeavor, but it tends to be so primarily for those who invest time in education before diving into the markets. Time and time again we see that the best traders are the most educated traders. With this in mind, check out the following tips for first-time traders looking to […]

Forex trading can be a profitable endeavor, but it tends to be so primarily for those who invest time in education before diving into the markets. Time and time again we see that the best traders are the most educated traders. With this in mind, check out the following tips for first-time traders looking to enter the amazing world of Forex trading.

Tip #1 – Know the Markets

Forex traders need to know what makes the markets move in order to make more informed decisions about when and how to trade. For example, a country’s economic standing is the main driving force behind that currency pair’s price. If big economic news is expected to hit, then the market is likely to become volatile. Successful forex traders always stay up to date on the news and are aware of the factors that can affect prices or when they might need to hold off on trading if volatility is on the horizon.

Tip #2 – Have a Plan

Creating your trading plan is one of the first tasks that any new trader should have on their list. Your plan includes your trading strategy, which is very important, but it also deals with who you are as a trader and what goals you have, your evaluation criteria for making trades, how much you want to risk, and your methodology. Without this plan, your trades will likely seem erratic and might not make much sense.

Tip #3 – Practice First!

Have you ever practiced on a demo account before? If you already have a trading account and you haven’t, then you skipped a very important step to beginning the trading process. These accounts are offered by most forex brokers and are completely free, so there’s no excuse not to use one. Demo accounts don’t only allow one to practice without risking real money, but they can also be used to figure out the MT4/MT5 platform, gauge your understanding of how to trade, and whether you’re ready to open a live account, test strategies and indicators, and more.

Tip #4 – Only Risk what you Can Afford to Lose

While we hope that each investment you make into your trading account is a profitable one, this is rarely the case in the world of forex trading. There will be some losses along the way, as this is a fact that even billionaire traders have learned. This is why it’s important to only risk funds that you can afford to lose. If you risk money that you needed to pay bills with or to live off of, then you must think of the ramifications if those funds are lost.

Tip #5 – Research Trading Psychology

You’ve likely heard of the ways that emotions can affect your trades. If not, just think of the ways that anxiety, fear, and stress could negatively affect one’s trades. When you’re feeling these emotions, your head can get cloudy and you don’t make the best decisions, which can result in a loss of money. Even happier emotions like confidence or excitement can cause you to make mistakes when it comes to trading. We could spend all day talking about the psychology behind trading, so you should spend more time researching this topic so that you’ll know if it starts to affect you.

Tip #6 – Stay Consistent

Once you’ve created your trading plan, it is important to stay consistent. Remember that you will have good and bad days when trading, as this is simply part of it. You shouldn’t erratically switch plans every time you lose money, otherwise, you won’t be able to perfect your strategy. Instead, consider keeping a trading journal so that you can see the bigger picture of how your strategy is working along with anything that might need to be changed.

Tip #7 – Choose the Right Broker

With so many forex brokers out there, it’s easy to want to simply choose one and be done with it. Much like with the way that we need to compare car insurance or cable services to get the best deal, we also need to compare multiple brokers as well. This is even more important than the other examples as you are hopefully choosing a broker that you will spend years or decades working with and that will help you make a ton of money. If you don’t put much thought into the process, you could wind up losing way too much money in fees, dealing with poor customer service, or facing other problems down the road.

Categories
Beginners Forex Education Forex Market

What We Can Learn From Quiet Markets

The markets can be a crazy thing, huge movements up and down, huge spikes in volatility, and subject to a whole host of outside news and events that can rapidly shift them both up and down. However, there are also times when the markets are at a standstill, this is the first time for a trade as nothing is really happening, the markets are sat still, nothing is coming into range of your strategy so you really don’t have anything to do. This is the scenario that a lot of traders come against at least a few times a year, so we need to be able to know what we can do when the markets are in this situation, and to understand that there are still some things that you can do to help you improve your overall trading.

The markets can be a crazy thing, huge movements up and down, huge spikes in volatility, and subject to a whole host of outside news and events that can rapidly shift them both up and down. However, there are also times when the markets are at a standstill, this is the first time for a trade as nothing is really happening, the markets are sat still, nothing is coming into range of your strategy so you really don’t have anything to do. This is the scenario that a lot of traders come against at least a few times a year, so we need to be able to know what we can do when the markets are in this situation, and to understand that there are still some things that you can do to help you improve your overall trading.

The markets can be a crazy thing, huge movements up and down, huge spikes in volatility, and subject to a whole host of outside news and events that can rapidly shift them both up and down. However, there are also times when the markets are at a standstill, this is the first time for a trade as nothing is really happening, the markets are sat still, nothing is coming into range of your strategy so you really don’t have anything to do. This is the scenario that a lot of traders come against at least a few times a year, so we need to be able to know what we can do when the markets are in this situation, and to understand that there are still some things that you can do to help you improve your overall trading.

Patience

Something that we often find that a lot of people lack, especially those that are new to the market. The need to always be doing something, whether it is analysis or actual trading, it can be a strong impulse. Having a low market gives you the perfect opportunity to practice being patient, and let’s face it, it isn’t giving you much choice. Being patient does not necessarily mean just sitting in front of the computer waiting, it can also involve doing something else entirely, away from the computer or on. Being selective in your trades is a good trait to have anyway, so this is a good way to help teach you to wait and take the trades that match your strategy.

Being able to wait for the right trade instead of acting on patience is such a vital skill to learn, so take this opportunity to learn it, it will greatly improve your future trading even in more busy market conditions.

Adaptability

It is normal to be required to adapt to the changing markets, they are constantly moving up and down and you will need to be able to adapt to that to adjust your strategies, however, another thing that you need to be able to adapt to is when a market decides to slow down or even flatline. This could be about adapting your own perception and staying put, which ties in with patience that we mentioned above. Another way to adapt is to have a backup plan when your pairs are deciding to not move, is there anything else that you can move onto? Maybe there is a commodity or a metal that you are interested in, often when the currency markets have stopped, there is still a bit of movement in the others.

Of course, looking at a new asset to trade would require changes to your strategy and also learning how they move, but having these other options available will make it a lot easier for you to adapt and change when things are a little slow.

Strategy Flexibility

Having a flexible strategy or even more than one strategy will help you to be flexible when the markets are not behaving nicely if you can have a strategy available for when it is trending and one for when it is a little more stagnant can help you to find trades no matter what is happening. If you wish to be trading all year round, then you will need to be able to flex your strategy to suit all possible market conditions, so allowing yourself to have those additional options would be a huge benefit to your overall trading plan.

Learning Style

We all have different learning styles, some learn from sitting and reading while others learn from actually doing. If you learn from actually trading then these quiet periods could be a nightmare for you as there is nothing to do. In a situation like this, it is important that you have a look at various other ways of learning, this will help you to learn new ways to study which would then give you the opportunity to learn even in these slow times. It can be hard, it can be a little boring, to begin with, but after training yourself on new ways to learn, it will be a huge benefit in the future.

So those are a few things you can do and learn during a slow market, while it can be a slow time for trading, there are certain things that you can try to learn and teach yourself to help you get through those slower periods.