If you can't keep your emotions in check when trading, you will lose money. Lots of it. Pipsychology was created to help minimze this from happening to you. The most significant action that you can do to improve trading profits is to work on yourself. Really knowing yourself and how you think can give you an edge that others in the market don't have. My goal is to share practical advice to improving your mental side of trading without boring you to death. Hopefully you can develop the mental edge you need to become the best trader you can be.
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During my very early days of currency trading my mind was running wild with the ideas and dreams of what I was going to do with my soon-to-arrive riches. Sound familiar?… More…
Many successful traders take a systematic approach to trading. They start with a hypothesis about the market or certain economic conditions. They follow up the hypothesis by creating a trading plan, and then they finalize the process by placing a trade to test their position. It’s very step 1, step 2, and so on.… More…
Your successful traders will tell you to minimize your use of and exposure to complex trading strategies. Novice traders usually go the complex route because they want to avoid risk and blindly leaping into Forex trading. … More…
For novice Forex traders there always exists the desire to be right. What better to help justify their progress as traders than their decisions being correct, resulting in a successful trade? Yet this yearning to be right can get them into trouble. … More…
Have you ever had one for those days? Your charting software didn't work just right, your Internet connection was doggedly slow, and you forgot to read up on this week's latest economic report releases so you missed all the good opportunities.… More…
Being successful, whether it's as a Forex trader, a business owner, or even as a parent, takes a lot of personal development. Day after day you have to deal with many uncertainties, some known and many others unknown. You are continually tested and how you react before, during and after these challenges all play part in your success.… More…
You can be super motivated to trade, filled with deep optimism, have millions of trading capital available, and a solid trading strategy, but if you don't devote your full concentration to the trade that you have on at the moment, you will lose money.… More…
It's not what you've got, but what you do with it that counts, right? Wrong. If you've got $1,000 in your account, and you're trading ten mini lots at a time, you will quickly end up broke as a joke. Size does matter...in trading. Get your mind out of the gutter.… More…
Why do certain traders win consistently lose? Here are four reasons.… More…
When's the last time you jumped of a cliff because everybody else was doing it?… More…
