There’s lots of talk of a looming global recession at the moment. Not to mention the ongoing Brexit politics circus playing out here at home! So who can blame people for turning to potentially lucrative trading strategies in order to hit and maintain their personal financial goals? One thing concerns me though. Two things actually… […]...
Let me tell you a bit about Richard Dennis… If you’ve not heard of him before Dennis was one of the guys behind the infamous ‘Turtle Traders’ experiment. He had a bet with his partner William Eckhardt that traders were made, not born, and he set about proving his theory right. (The film Trading Places […]...
As traders we deal with external stimuli. That means things that are happening outside your mind and body. And your brain filters each individual ‘stimulus’ event in two ways… it’s seen as either a threatening event or a non-threatening event. So imagine now logging in to your trading account. You’re checking progress on an open […]...
I’ve been chatting to some brand new traders recently. Some of them had the right idea of what trading is all about but a few of them were quite a way off the mark. I thought it would be a good idea to go right back to square one today. If you’re a brand new […]...
Let’s face it – it’s so tempting to find amazing entry points for trades… But how much time do you spend considering your management of open positions? The management of your trades is where you’ll almost always find (or lose) the discipline that makes or breaks your campaign. But we don’t always go into each […]...
Once upon a time I made myself a ‘million-pound spreadsheet’. It was a beauty to behold. I plotted a graph projecting a (theoretical) rapidly growing trading bank and I virtually worshipped the thing. I could probably dig it up on an old hard drive somewhere. And you know what, for my very first 8 weeks […]...
How do you learn to be a really good trader? A typical experience might be to learn a trading strategy, apply it to a demo account (or paper trade it) and then take it live once some virtual profits have been seen. And that’s a perfectly sensible way to go about things. Problems can arise, […]...
Remember the classic 80’s film Trading Places? Two rich old brothers swap the lifestyles of a beggar and a fancy commodities broker to settle a twisted $1 bet. They set out to prove once and for all whether nature or nurture dictates how successful a person can be. Needless to say, the whole thing blows […]...
I set off hacking my way through the trading ‘jungle’… I bought the books, followed the ‘gurus’, set about looking for the Holy Grail. You know, the ‘one system to rule them all!’ But it was only when I stepped back and took a good long look at what I was really trying to achieve […]...
Give this question a bit of thought… What it is you actually want to achieve by trading? I know making money is sure to feature somewhere in your answer. But even that is going to mean vastly different things to different people. So before you think I’ve lost the plot by asking such a dead-obvious […]...
A question arrives from reader Tony B… “If the market was above the eurusd figure [the price he wants to buy at] how could I have placed the limit buy orders please? Should I put an alert on to wait for the market to drop?” Now Tony is one of our 4DFX members. He’s getting […]...
Scaled exits are nothing new. It’s not some cutting edge technique I’ve just invented. But scaling isn’t often discussed when it comes to Forex trading. You’ll read about the old masters of trading scaling out of their trades – they were doing it a hundred years ago or more. And scaling has always been a […]...
Keeping a journal is absolutely essential for traders. It’s the one guaranteed way you can improve your trading. And I think there are 2 parts to keeping good trading records. There’s 1) The Trading Journal and 2) The Record of Results. At first glance they might sound like the same thing but they’re actually very different… […]...
I had a similar conversation with two different people this week… It’s about trends. Or more specifically: a) How do you know which ‘segment’ of a big overall trend to measure and work with? And: b) How far back in time should you go when measuring trends and drawing trendlines? These two questions address the […]...
A question arrives from a TN reader: “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 of […]...
