Financial Trading Archive | What Biz Opp

Trading order types explained: Stop, Limit and Instant Execution

By whatbizopp on September 13, 2016

When newer traders make their way to the Metatrader platform for the first time it’s easy to become overwhelmed by the range of options on the MT4 order ticket. “Surely it should only be a button for buy and a button for sell, shouldn’t it? Why am I seeing things like ‘Buy Limit’, and ‘Sell Stop’? Why is it all so confusing?” If that sounds like a familiar story, don’t worry! We’re going to run through all the different order types today. I’ll tell you exactly what the different orders do and when best to use them to your advantage. Now I know it might all seem a bit confusing at first, but carefully choose the right tool for the job and you can actually gain an extra edge each time you pull the trigger on a trade. So first.....

Trading order types explained: Stop, Limit and Instant Execution

By whatbizopp on September 13, 2016

When newer traders make their way to the Metatrader platform for the first time it’s easy to become overwhelmed by the range of options on the MT4 order ticket. “Surely it should only be a button for buy and a button for sell, shouldn’t it? Why am I seeing things like ‘Buy Limit’, and ‘Sell Stop’? Why is it all so confusing?” If that sounds like a familiar story, don’t worry! We’re going to run through all the different order types today. I’ll tell you exactly what the different orders do and when best to use them to your advantage. Now I know it might all seem a bit confusing at first, but carefully choose the right tool for the job and you can actually gain an extra edge each time you pull the trigger on a trade. So first.....

5 steps to managing tricky trading emotions

By whatbizopp on September 6, 2016

Controlling your emotions – that’s all successful trading boils down to… “Fight greed. Overcome fears of pulling the trigger on trades. Adjust your position size until you sleep easy at night…” They are all great pieces of advice. But have you ever stopped to think how emotional responses get triggered in the first place? Delve into the workings of your brain and you discover it all revolves around some startlingly simple processes. Really get to know your stuff and you’ll find there are ways of ‘beating’ the system – you can actually start to control how your brain responds to certain situations. This is how stage hypnotists pull off mind control to the delight of their audience. And how hypnotherapists help people knock nasty habits on the head. So did you ever see the Derren Brown TV programme where he.....

The 4 stages of mash up trading system design

By whatbizopp on August 30, 2016

My family all went to the Cheshire Game and Country fair yesterday. It’s the kind of place where they have gundog displays, ferret racing, and – my favourite – the falconry display. And this was particularly good timing because I did want a quick word with the hawker… You see, there’s a rogue buzzard patrolling the lanes around our house. It has already attacked one of the dinner ladies from the local primary school, leaving her needing stitches to her head. And it had my missus pinned-down crouching under a hedge, too. She said it was dive-bombing her with talons extended, and she had to flag a passing car down to safely extract her to the end of the road! The hawker said this was all due to the recent proliferation of these birds: there’s so many of them now.....

Decisions based on probability can give the soundest, most logical trades

By whatbizopp on August 23, 2016

In the early 1900s, a wealthy grain trader lay on his deathbed. He’d lost his wife many decades earlier and had since dedicated himself to his three children. The children led lives of privilege. They’d been sent to the best schools and never wanted for a thing. But now they were older they mostly just burned through their trust fund income as fast as they could, having a bit of a party. The trader thought them lazy. He regretted spoiling them and could see how they were just itching to get their hands on the rest of his loot. But the trader was a wise man. He’d figured out how to teach them the lesson that would stand them in good stead once he’d gone. So as darkness drew in around the trader the children gathered at his bedside.”Go and.....

Three trading tips to keep you on track (and out of the swampgrass)

By whatbizopp on August 16, 2016

Not far from where I live there’s a strip of reclaimed marshland. It’s sandwiched between the M56 and the River Mersey. And sometimes people can be spotted doing some rather strange things down there… There’s a Zorb football pitch (where players run around with giant inflatable bubbles covering their heads and upper bodies) and there’s also an axe-throwing range. But most appealing of all is the hovercraft racetrack. I’ve fancied having a go in the hovercrafts for ages. And on Sunday, ten of us went to put them through their paces. Now I must admit, I did feel quietly confident as we bumped down the potholed lane to get there. I could throw a racing go-kart around alright when I was younger, even came within grasping distance of Gianni Morbidelli’s lap record at my local track once. I did. So.....

How to like a (good) psychopath!

By whatbizopp on August 9, 2016

Two groups file into a room… Eyeing each other they settle into private booths. They’re about to do battle. To the left we have the psychopaths: the hooligans, the violent serial offenders, and worse. And to the right we have the financial traders. To win this game of strategy they’ll make calculated decisions under extreme stress. They’ll assess probabilities on the fly and take immediate action based on their findings. It’s all about good strategy. So who’s your money on to win – the psychopaths or the traders? Believe it or not, this experiment happened for real at a Swiss University. The two teams played a game of ‘prisoner’s dilemma’. It’s a game where the participants can choose to betray each other or co-operate in an attempt to come out in top. The surprising result showed the traders coming off.....

Why you should be wary of ALL trading advice

By whatbizopp on August 2, 2016

I’ve another client question to share with you this week. This one will give you a deeper insight into the results other traders are achieving. And it could also help you steer your way out of a nasty mind-fog if you ever find yourself in a similar position to Jim (I’ve changed his real name to protect his privacy). Here’s how he describes the situation: Jim has two strategies he uses… The first is a EURUSD method. It trades the 60 minute chart and it holds positions for between one and twenty days. When he gets into a trade he looks for 1:1 reward to risk on half his position. He then lets the other half run on, looking for a higher return of 2:1. He did nine months of demo trading with this before taking it live. His.....

How to profit when your stop-loss comes under fire

By whatbizopp on July 26, 2016

I’ve been working with a new coaching student this week. We’re just getting into the swing of things – he sends me details of the trades that he made following the methodology I share in the Forex Breakthrough Academy and I give him my feedback. And credit where credit’s due, my student is doing a great job with his trading journal. He’s making notes of all the essential data points – his entry price, his target price, his initial stop loss location and how he might adjust his stop as the trade develops – but he’s also looking deeper into the process too. He’s already been spotting areas where things can be tightened up and improved (and it only takes two or three small tweaks for a trader to see a massive improvement on their results). There was a situation.....

Are you a cherry picker trader or do you use brute force?

By whatbizopp on July 19, 2016

I felt his pain. I really did. His words summed up a very common frustration. Personally, I remember a similar situation very vividly: a feeling that the markets were somehow conspiring against me. That somewhere, behind the scenes, my carefully prepared trading plans were being sniggered at as they unravelled. And worst of all… that it was costing me a small fortune in losses! So what caused these feelings and memories to flare up? It’s because I received an email from a particularly miffed trader at the weekend. And two sentences he wrote say it all. Here’s the nub of his frustration in sentence number one: “It’s almost magical the way I can see several promising trades, but choose only to trade the two that stop me out, while the others usually go on to win.” Now doesn’t that sound.....

What trading tips can we learn from tribal traditions?

By whatbizopp on July 12, 2016

They’re doing an end-of-term performance down at the primary school next Friday. And Luke – my eldest – is a tribal dancer. So at the weekend we were on the search for tips to help him make it look realistic. He’d already raided his mum’s wardrobe for a suitably tribal-looking scarf (she doesn’t know yet, so keep that one quiet!) and then we found some old reruns of Bruce Parry’s documentaries about tribal groups on YouTube. And, well, that was the rest of Sunday morning gone because this stuff is simply fascinating! At one point, Bruce spent a couple of weeks with a tribe in Ethiopia. We saw a boy coming of age set to go through an initiation ceremony to make him a man. So of course, before the dancing and celebrations could begin, he had a challenging task.....

Lipstick, high heels and… baked beans: 12 really odd ways to anticipate economic shifts

By whatbizopp on July 5, 2016

Everyone knows the big market-moving reports, right? I’m sure you’re well aware you need to have your wits about you on the first Friday of the month. That’s US employment numbers day and crazy things can happen in the markets when the reports come out at half past one in the afternoon. And you know you should be on your toes around interest rate decisions, Gross Domestic Product figures, manufacturing data, stuff like that… they’re all things traders watch on a daily basis. But it can take weeks or even months for the shifts in economic health to trickle down to us through those stats. So did you know there’s a whole raft of alternative indicators that market players use in an attempt to nose their way ahead of the competition? Have you ever heard of the Lipstick indicator, or.....

The bomb-proof income system you’ve spent years looking for

By whatbizopp on July 7, 2016

A few weeks ago, back in June, I sent you some information about an investment workshop I’d been to in London. It was the PIE trading course run by Glynn Calvert and Paul Glynn. The one that can give you 12% to 28% annual returns from quick, simple, and very conservative monthly investments (takes around 15 minutes per month to do). And I’ve tested that claim. It really is that simple. Now around the time I wrote to you we also had a big event looming on the horizon: the EU Referendum vote. “Aha!” I thought. “This is going to be a perfect opportunity to pressure-test the ‘safety net’ that Glynn and Paul built into their PIE strategy!” (They’ve included a clever feature that turns any potential losing investments around into immediate profit producers. And I do mean instant. As.....

Brexit and the EU calamity: Now turn and look for your personal opportunity

By whatbizopp on June 28, 2016

Well, what a week that was! I stayed away from any active trading during Brexit week. If you’re a member of Overnight Momentum Trader or the Forex Breakthrough Academy you would have seen my suggestions to watch from afar and wait until the dust had settled. But as I was driving down to the garden centre on Saturday morning I began to think: ‘So where does it all go from here?’ As strange as it sounds, I didn’t really give it too much thought on Friday. I purposely switched off – mainly to avoid getting drawn into any heated and opinionated arguments with people. And there really were some raging rows going on! I personally know close friends and family units who may never relate to each other in the same way ever again. I think they may come to.....

Trading charts: choosing the best tool for the job

By whatbizopp on June 7, 2016

I’ve been flicking through my charts of the main markets this morning… Just getting a feel for how things currently sit as Brexit jumpiness starts to creep in. And it occurred to me how I’ll switch between the different chart types depending on the stage of analysis I’m working on. It’s not something I plan, but sometimes I’ll have a trusty old candlestick chart on the screen, and the next minute I’ll flick to a stripped-down line chart. I’ll spend a bit of time there and before I know it I’m back on the candlesticks! I’ve noticed it does depend which price action features I’m searching for at that particular time – I’ll use the different chart types to find different things. So I slowed down and took a few notes as I was jumping between the screens. I wanted.....