❤️Risk management is a crucial component of forex trading to help minimize potential losses. In this article, we’ll explore the do’s and don’ts of risk management in forex trading. 🧡DO’S 💁🏼♀️Set a stop-loss order: A stop-loss order is a pre-set level at which a trade will automatically close, thus limiting the loss on an open position. 💁🏼♀️Diversify...
Introduction: In the fast-paced world of trading, making accurate decisions is crucial. However, traders are not immune to cognitive biases that can lead to irrational behavior and potentially significant financial losses. One such bias is the anchoring bias, which refers to the tendency of individuals to rely too heavily on an initial piece of information...
I always thought that stop losses are useless. Whenever I see price taps me out, and go in my direction. Whenever price comes close to my stop loss, the spread will somehow widen and take me out, and go in my direction. I was always angry about this. “The broker must be trading against me! I must hide my stop loss!” I stop using stop losses. For some trades, I...
Investing plays a crucial role in personal finance, serving as a vital avenue for individuals to expand their wealth and financial security over an extended period. Despite its significance, numerous individuals shy away from investing due to various perceived obstacles that hinder their progress, including a lack of knowledge, fear of risks, and limited...
The significance of psychology in trading cannot be overstated, as it serves as a cornerstone for achieving success. Failure to acknowledge its importance can have disastrous consequences. A notable example is the case of Nick Leeson, who single-handedly caused the downfall of the venerable 200-year-old Barings Bank, a financial institution of such stature that...
👉🏻The world of investing can be a wild ride, full of twists and turns that can lead to either high gains or crushing losses. That’s why it’s important to understand the different risk levels that come with investing in various assets. Let’s explore the three main categories of investment risk levels: low, moderate, and high. 💹Low Risk If you’re risk-averse and...
Trading can be a lucrative career, but it's not easy to navigate the markets on your own. This is where a mentor comes in - an experienced trader who can guide you through the ups and downs of the stock market, teach you strategies and provide valuable insights that will help you succeed in trading. In this article, we will explore the benefits of having a...
Have you ever wondered why the certain trading instruments are very rapid while some our extremely slow and boring? In this educational article, we will discuss the market volatility, how is it measured and how can it be applied for making smart trading and investing decisions. 📚 First, let's start with the definition. Market volatility is a degree of a...
It takes a period of 3-5 years to obtain a degree. Gaining experience in a reputable 9-5 job typically requires 5-10 years. To become a professional athlete, one needs to undergo 10 years of training. If you don't achieve millionaire status in trading within 6 months, it's common for people to give up. However, it's important to recognize that patience and...
Investing in the stock market has the potential to generate substantial wealth over the long term, although it comes with inherent risks. One notable obstacle that investors frequently encounter involves safeguarding their capital during periods of declining stock prices. When the market undergoes a downturn, the inclination to panic and sell off investments to...
True story: Yesterday I was having a cigar perched under an umbrella in the rain - not ideal, but peaceful nonetheless. And out pops a family of birds to feast on the worms that rise to the surface in need of some high quality H2O - little did I know, this would become one of my favourite trading metaphors of all time! The Rain = Despair/Panic The Birds =...
This might surprise you. I was actually a content creator on Youtube and blogs before I focus on trading. Trading was something I do on the side as I was trying to achieve consistency. From young I already knew that I do not want to work in a 9 - 5 until I retire. I want to enjoy my life without worrying for money. I read a lot of books on personal finance,...
Greetings, my wonderful followers! 😇 Today, our focus will be on understanding the mindset of successful traders, exploring their thoughts and what sets them apart from those who struggle, based on their way of thinking. We will examine a non-exhaustive list of insightful quotes that are worth knowing and remembering. I recommend keeping a notepad handy to jot...
Over the past five years of trading, I have recognized the importance of continuously critiquing myself and my trading strategy. I diligently monitor my performance on a daily, weekly, monthly, quarterly, and yearly basis. Here's a concise list of the rules I have followed prior to entering and exiting a trade: ✅ Entry Rules Ensuring that the stop loss is...
Attention, traders, Breakout trading stands as one of the most widely used trading strategies, offering a seemingly simple concept that becomes intricate and convoluted in practice. In this article, we will explore seven essential steps that every breakout trader should adhere to. 📚To provide a brief overview of breakout trading, this approach revolves around...
Trading is one of the most fascinating and exciting professions in the world. It promises huge profits, financial independence, and the ability to work from anywhere. But with great rewards come great risks, and 90% of traders fail. Why do so many traders fail? Let's explore the reasons. 📚Lack of education: Many traders jump into trading without the proper...
Today was #FOMC! I'm Sure most of us had same experience on BLACKBULL:WTI and $OANDA:XAUUSD. I Just wanted to write about What is #FOMC and It's impact on #WTI, #Gold and #USD, Maybe somebody has lots of questions about that, so I try to do my best regarding captioned subject. The Federal Open Market Committee (#FOMC) plays a crucial role in shaping monetary...
Today, I'd like to introduce you to the 'AEM' framework – a three-step process to successful trading. This framework is designed for everyone, from beginners starting their journey to seasoned professionals looking to refine their strategies. It involves three fundamental steps: Analyze, Execute, and Manage. Let's break down each element: 🔍 'A' for Analyze The...