Financial Trading Archive | What Biz Opp

The ultimate shortcut: How to get 10,000 hours of trading done in just 12 weeks

By whatbizopp on May 31, 2016

The Beatles: The more they practiced, the more ‘naturally gifted’ they became! Can you ever truly ‘master’ a complex skill like trading? Possibly. If you have the time and the patience. They might even interview you for the next ‘Market Wizards’ book! But is it even necessary to reach the level of mastery to get what you want from the markets? The great thing about trading is the sliding scale of reward. It ensures even the beginning trader – as long as he has the discipline to follow a solid plan – can still profit beyond his wildest dreams. And for most traders the comfortable lifestyle and the ability to make money on demand is reward enough. The big step is getting to that stage of course! Now there was a popular book that came out a few years ago.....

An evergreen trading method I’d still choose even if my life depended on it

By whatbizopp on May 24, 2016

Have you ever heard of ‘gun-to-the-head’ decision making? You can use it in any aspect of your life. It’s not just a trading thing. It’s a way of cutting through clouded judgement to give you the best chance of choosing a successful course of action. Whenever you have a decision to make and there a number of options fighting for your attention simply imagine someone holding a gun to your head, cocking the trigger, and forcing you to make a choice. The trick is they get to pull the trigger if your decision doesn’t eventually get you the result that you want! It makes you drop any wishy-washy ideas you might have been considering in an instant. And keeps you focused on the high-probability ones instead. Ask yourself a relevant question while you’re making any decision. Imagine how likely it.....

Two tricks that’ll help your trades run to bigger profits

By whatbizopp on May 10, 2016

“If you want to make money from trading forget about making money!”  We spend a lot of time as traders focusing on trade entries. I suppose there is some logic to it. After all, until you get into a trade you can’t record a result. But you’ll probably notice another part of the process demands just as much attention, probably even more! And that’s when it comes to exiting your trades. Our two greatest adversaries – fear and greed – can run you ragged here if you’re not careful. Fear can have you on pins. As soon as your trade shows a small profit the urge to cash-in your chips can become almost unbearable. And cutting profits short on a regular basis can be fatal to your campaigns. Greed on the other hand can have you overstaying your welcome. This.....

Path of the master trader: 7 essential skills to learn

By whatbizopp on May 17, 2016

What’s your favourite piece of market wisdom? It’s a bit of a brain-tangling paradox, but here’s mine… “An act of self preservation in the ‘normal’ world can have the exact opposite effect when you’re trading.” Think about it… We come naturally hard-wired to grasp ‘lucky’ finds. We get an overwhelming urge to stash easily won loot before anyone else notices. It’s probably some kind of evolutionary throwback After all, stumble across a couple of tasty dinosaur eggs and you’d best tuck them away to feed your family before the next guy fights you for them. Unfortunately this approach is not so effective in the markets. Quickly close out trades that move into early profits and you can deny yourself over the long term because those are the times the market can reward you is a big way for your good.....

Review: Corespreads

By whatbizopp on April 25, 2016

Website: www.corespreads.com Address: Tower Bridge Business Centre, 46 – 48 East Smithfield, London E1W 1AW Authorised by UK Financial Conduct Authority (FCA): YES – reference number 525164 Trader’s Nest Verdict: There’s little to differentiate the main brokers these days. Most of them offer you a decent enough service and have acceptable spreads. And most will give you the industry standard Metatrader platform to trade on. That’s all well and good but there’s always room for better… Instead of piling on extra bells and whistles that no-one ever really uses Core Spreads have gone rogue. They’ve stripped their service down to the bare bones in order to cut costs and give you what REALLY matters… Razor-thin spreads This is essential! Core Spreads’ offers the following fixed spreads on its spread bet platform: 0.7 pip on EURUSD, 0.9 pip on GBPUSD, 0.8 points on FTSE100,.....

The trading magic of stunt scooters

By whatbizopp on January 5, 2016

10 trading lessons from a nerve-jangling skatepark session Happy New Year, traders! It only seems two minutes since I was wrapping presents and fighting to install the Christmas tree at an approximately vertical angle, yet here we are again with the markets fully open and back to business as usual. We had quite an active Christmas at our house this year. It was all outdoor toys on the children’s letters to Father Christmas, which I was glad about to be honest. Anything that gets them out in the fresh air and moving around rather than permanently hooked-up to a computer game is fine by me! And top of the boys’ lists this year were ‘stunt scooters’. Now, about two months ago I heard about an indoor skatepark tucked away on a rural business park not far from where we live......

The upside-down world of winning through losing

By whatbizopp on January 12, 2016

The Losing Trade Paradox: Why Deliberately LOSING Money Can Ultimately Accelerate Your Profitability When you first get into trading it’s so easy to be dazzled by the promise of overnight riches. It’s certainly enticing, but I think over-hype can do the beginning trader a great disservice. That’s why I think deliberately trading to LOSE can be one of the wisest investments a trader can make at the start of his career. It sounds a bit odd doesn’t it? It’s the polar opposite to what we’re trying to achieve: we want to make money not lose it! But the psychology behind the idea I’d like to share with you today can make losing trades one of the best long-term investments you can make. So let me lay it out for you… Now if you’ve ever considered Forex trading as a serious tool.....

Crossbreeding trading systems for fun and profit

By whatbizopp on January 19, 2016

How to customise your system with tried and tested ‘borrowed parts’ There’s a restaurant not far from me I’ve just never fancied visiting. It’s popular, gets good word of mouth recommendations, and even the online reviews are good. (If you can trust they are genuine!) But this place has never really appealed. And it’s because of the type of food they serve: Italian tapas. If I want Italian there’s a cracking little family-run restaurant I know. It’s a bit old fashioned with red-and-white checked tablecloths, giant wooden pepper grinders on the table, and dusty photos of the family’s village back in Italy on the walls – you can probably picture the kind of place. But you always get a warm welcome and the food is outstanding. It’s the experience I’ve come to expect when I think Italian food. And if.....

How JCBs and invisible gorillas solve stubborn trading problems

By whatbizopp on January 26, 2016

Is a sneaky ‘meta-hole’ trading hassle holding you back? Here’s how to tell… Talk about a lucky escape… I was sauntering through town the other day minding my own business. No reason to rush, no appointment to keep, so lord knows why I did this… I arrived at a pedestrian crossing when the little man was on red. It meant I probably had to wait a whole 45 seconds before I could safely cross. But instead of waiting, I gave a quick glace over my shoulder and stepped into the road – right in front of a JCB digger! I just didn’t see it. Luckily, the driver jumped on his brakes and the enormous, bright yellow, couldn’t-miss-it-in-a-snowstorm machine came to a clanking, rocking halt with the raised digger-bucket just 3 feet away from my head. After apologising profusely to the.....

Wins vs profits – what matters most?

By whatbizopp on February 2, 2016

The age-old battle between strike rate and profitability. (And how you can prove which one of them REALLY matters!) I’ve been working with ‘S’ for a couple of months now: he’s one of my 1-2-1 coaching clients and he’s just reached the decisive point of becoming a consistently profitable trader… Yes, he’s actually proven to himself, with profitable results from live trading, that he really does have the ability to extract reliable income from the markets. Just as we all do! He’s done the hard bit, he’s achieved positive results from his first batch of trades, but it’s what he does next with the knowledge and experience gained from running this winning campaign that’ll decide his ultimate fate. But let me quickly explain what we’ve been working on together… S joined the Trader’s Nest Breakthrough Academy at the tail end of.....

Market manipulation and medieval horse racing

By whatbizopp on February 9, 2016

How ALL markets are manipulated and why traders often forget their own orders are to blame! At the weekend I watched this film about a crazy horse race in Italy… It was recorded in Italian with English subtitles but it had me hooked from start to finish. (And since I speak barely a word of Italian beyond ciao this was quite something!) Twice a year, in Siena, they hold this extreme race called The Palio: they reckon it’s been running since the mid-sixteen-hundreds. It goes right through the middle of the medieval town while everything else grinds to a halt for days at a time. The entire population of Siena turns out to watch and cheer on the horse representing their local neighbourhood. And when I say cheer them on, I mean fanatically cheer them on… people overcome with emotion.....

A three-chart combo for ultimate market insight

By whatbizopp on February 16, 2016

Not sure which chart-type is best? Try blending these three together for a complete picture of any market We’re going to review a bit of basic charting stuff this week. It follows a question from a new Trader’s Nest reader: Which kind of chart is best? I don’t know why they include so many different types of charts in my [broker’s] software when I only need to see if the price has gone up or down. I’m finding it all a bit confusing! Great question! And I think there is definitely a bit of an ‘arms race’ going on between the different brokers and software firms. Understandably they all want to lay claim to the ‘ultimate solution’ for analysing markets and finding trades. But the charts needn’t be confusing if you keep things nice and simple. Remember there are only.....

Taking trades home on Friday night…

By whatbizopp on February 23, 2016

What to do when you want to leave trades open through the weekend   (HINT: don’t just grit your teeth and hope for the best!) I’ve received more great questions from Trader’s Nest readers this week… The answers won’t necessarily apply to all traders, and each of their personal situations, but I think there are some important things we should all stay aware of just the same. So today, let’s have a look at how you might prepare for the weekend when you have open trades still running. Here’s the question I received: ‘I’ve got this trade that’s well into profit. My usual strategy is to trail the stop loss so I can lock in some of the profits and then give the trade chance to turn into a long-term position. But what do you think I should do ahead.....

Using pit-trader’s ‘backstops’ to defend your positions

By whatbizopp on March 1, 2016

Do you even NEED a stop loss?   (How pit traders did it all without a safety net) What part of your trading strategy do you think has the single biggest effect on your results? Personally, if I could only focus on one thing, I’d look way beyond entry signals or any of the stuff that gets you into trades. I’d actually drill-down on what gets you OUT of trades. After all, the money is made or lost at the point a trade is exited. And an integral part of the exit strategy is our old friend: the stop loss. Now stop loss placement and management are two very personal issues. There’s simply no single right or wrong way to do it; no one-size-fits-all. There are as many different stop loss approaches as there are traders because we each have.....

What’s best to do when it comes to volatility like this?

By whatbizopp on March 8, 2016

Why you probably shouldn’t trust technical indicators in overheated markets – and what you might do instead   PLUS: My one top tip for day-traders looking to go full-time It was a pretty wild ride on those US job numbers last Friday, wasn’t it? In EURUSD we had an immediate 77 pip drop… then a 123 pip rally… then another 68 pip dip… and a final 85 pip pop an hour later. It made you queasy just looking at the chart, never mind trading it! Here’s how it looked on the one-minute candlesticks: Now it’s not particularly unusual to see a ‘whipsaw’ reaction to reports like this, especially when there are so many different facets to the figures they release. In this case the headline number – the thing that everyone responds to with a kneejerk reaction – suggested.....

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