Forex Psychology

/Forex Psychology

Forex Psychology

This is where currency direction comes from so make sure you spend plenty of time learning about the fundamentals.

20 04, 2018

Once you focus on the outcome instead of the process, you’re in trouble!

By |2018-04-20T03:50:51+00:00April 20th, 2018|Categories: Forex Psychology|0 Comments

The more you think of the cash, the harder it will be to make it

Trading is as simple as just turning on your screens, clicking buy or sell, and then sitting back counting your cash. No no no...... I know some companies market their products like this, but in reality, that's not how it works. There's a bit more to it.

In my experience, the biggest issue for people is starting out trading with far too little capital in their accounts. [...]

9 02, 2018

The 3 main factors that I believe restrict trader’s potential to make money trading forex

By |2018-04-21T22:18:18+00:00February 9th, 2018|Categories: Forex Psychology, Popular Articles|0 Comments

There's loads of inexperienced answers on the internet

I’ve read a lot on the internet about why traders lose money and are not successful.

They range from using the wrong brokers, wrong indicators, trading wrong currency pairs, trading the wrong time frames, screwed up psychology, etcetera .… the list appears to be endless.

But after 28 years in the market, 8 of which have been working with retail traders, I can isolate it to 3 major reasons why they aren’t successful & they [...]

9 01, 2018

Dynamic Capital Management is a must for all Pro Traders!

By |2018-01-09T14:21:33+00:00January 9th, 2018|Categories: Forex Psychology, Popular Articles|0 Comments

Some of the Best Lessons Come from Losing Trades

I had a good question from a trader today about my recent EURUSD order, which unfortunately ended in a losing trade.

The conversation started with 'Why did the trade not work out'? (This isn't the good question I was referring to, that's lower, but a good question all the same)

Now this was an easy one to answer as it was clear cut.

The EURUSD was in a nice short to medium term uptrend and [...]

8 01, 2018

Welcome to 2018 – Are you ready to start trading?

By |2018-01-08T17:53:27+00:00January 8th, 2018|Categories: Forex Psychology, Latest News|0 Comments

Setting appropriate goals is just as important as analysing the market

After a long break it always takes a few days to get yourself back in the groove with the currencies, so it's not a good idea to rush in and start trading in the first few minutes of day 1.

A lack of a plan at the start of the year can really see things drift off track very quickly and have you on the back foot chasing your cash, and [...]

30 10, 2017

After the release of economic data do you hold the position or square up?

By |2018-01-09T00:12:09+00:00October 30th, 2017|Categories: Forex Psychology, Fundamental Analysis, Popular Articles|0 Comments

You've got to know when to hold em', know when to fold'em

I've had a load of questions of late associated with trading economic data releases. This is a tricky situation and your success will definitely improve with more experience on trading the economic data.

Kenny Rogers was right on the money when he came up with this nifty tune:

"You've got to know when to hold 'em, know when to fold 'em,

Know when to walk away, know when to run.

You never count your money [...]

14 09, 2017

There’s Two Important Parts to Capital Management

By |2017-09-14T12:22:48+00:00September 14th, 2017|Categories: Forex Psychology, Popular Articles|0 Comments

Don't Override Your Capital Management Plan

As you may have heard me waffle on, Capital Management is the most important component of your trading methodology. If you don't have any at all then well forget it, your account will be dry in no time at all. But in the same way if you don't respect it, you can have some major 'whipsaw holes' in your capital.

I think it's time we actually took this 'Capital Management Plan' a step further as there's [...]

30 08, 2017

Analysing your performance is the BEST ‘probability enhancer’

By |2017-08-30T13:20:53+00:00August 30th, 2017|Categories: Forex Psychology, Popular Articles|0 Comments

Your Most Recent Performance is the Best Gauge

We're always looking for an edge over the market when we're trading. You know, trying new things, looking at a range of indicators, or analysing the performance of some other secret system you've 'thought up'. These additional tit bits are what we call probability enhancers.

The aim of "Probability Enhancers" is to micro-analyse an opportunity so you can hopefully reduce the overall risk in the trade. After all the more factors in your favour [...]

28 08, 2017

Make Sure You’re Trading for the Right Reasons

By |2017-08-28T17:57:22+00:00August 28th, 2017|Categories: Forex Psychology, Popular Articles|0 Comments

Are you trading to supplement your income or to cover your day to day financial obligations?

One of the most important yet least thought about components of trading is "Trading Psychology". As far as I'm concerned it's second behind 'capital management' with regards importance for your overall longevity and success as a trader.  Funnily enough both topics are largely ignored by most new traders until it's too late and they have blown up their trading account for the 3rd time.

Trading is [...]

9 08, 2017

Get it right from the very start

By |2017-08-09T15:23:03+00:00August 9th, 2017|Categories: Forex Psychology, Popular Articles|0 Comments

Mission Critical

The path to success with the T4T FX Pro Trader course begins with taking the time to go through the content methodically and making sure you understand every component, especially Capital Management.

This article contains five keys that will shape your entire outcome as a trader. Do not begin trading until you’ve read and understood this section and been through the course methodically.

Set Up and Use Guidelines

If you want to become a successful trader its important you take the time [...]

25 07, 2017

How to overcome the FOMO in trading

By |2017-09-28T21:26:06+00:00July 25th, 2017|Categories: Forex Psychology, Popular Articles|0 Comments

FOMO - The Fear Of Missing Out

This is FOMO—fear of missing out, is defined as “a pervasive apprehension that others might be having rewarding experiences from which one is absent.”

When you consistently “connect” with people, you become vulnerable to the comparison game and this can be extremely detrimental to everything you're trying to achieve.

The FOMO can be a major barrier for traders. If you fail to understand and acknowledge it then you could be headed towards a path of destruction [...]