Psychology

After consecutive winning trades, some traders start to think that they got it all figured out and start to cut corners in their execution. This, my friends, is the start of a trading seesaw.

How many times have you let yourself fall into the jackpot mindset while trading? New traders, or those in the middle of a string of losses, often let themselves believe that success in trading is all about being able to catch those big, homerun trades.

It can be argued that being hard on yourself is a way of addressing your problems. But it can become more of a bane than a boon to your trading if you get caught up in all the pessimism.

It is said that patience is a virtue, but does this adage also apply to the fast-paced world of forex trading? Here are four scenarios wherein it might be better to patiently wait on the sidelines instead of jumping in a trade.

Let’s face it. Many of us are lured by the promise of making big bucks in the world of forex trading, to the point that it becomes an addiction for some. Are you guilty of this?

Is forex trading like poker? If so, what are the similarities and what exactly can we learn from poker players? And how does Big Pippin keep his poker face on? Read on to know my answers to these questions and more!

So you’ve been trading on a demo account for months now and you think you’re ready to go live. But are you REALLY ready? Make sure you go through this checklist before you invest your life savings in the unforgiving world of forex trading.

When traders talk about capital, more often than not, they are talking about how much you have invested and how big your bank roll is. But there is another type of capital, one that is not talked about often or at all. I’m talking about psychological capital.

We gave ya part one yesterday, so now it’s time to check out part 2 of my article “Deliberate Practice!” Why is it important, what do you do, and where do you begin?!

We’re bringing back another oldie, but goodie, and this one goes out to all of our discretionary traders and chartists out there. Practice doesn’t make perfect, it’s perfect practice that makes perfect…or gets you close to it…

With the new year approaching bringing new beginnings, it’s always a good idea to revisit fundamental skills and ideas before planning your attack. So we brought back, “Always be prepared” because this mentality can never be driven home enough in this game.

If you look at the line-up of traders in Wall Street trading firms, you’re likely to find more than a handful of former Division I athletes on the floor. Why is this? What’s the connection between being an athlete and trading?

In my previous post, I mentioned that preparation is only half the battle. So what makes up the other half? Execution. In trading, actively managing your open positions is just as important as coming up with your plan. Here are three tips to help you manage your active trades.

As they say, “Preparation is half the battle.” And in trading, the battle begins even before you open up your trading software. Let me share with you five tips for your weekly pre-trading routine to help you conquer the markets!

In trading, it is very easy to get lost in the game. You get on your trading platform, try to get some pips, and in the process you usually forget the most basic risk management practices. Here are 5 common habits that might help in limiting your risk exposure.

So you’ve demo traded for six months and you believe that you’re ready to enter the big leagues. Here are a few tips to keep in mind when you begin your trading business.

The PlayStation 3, the iPad, and all sorts of devices were invented to keep us entertained at all times because to some, there’s nothing worse than being bored. But did you know that boredom may actually be good for your trading?

The promising reward-to-risk ratios of picking tops and bottoms can be tempting for traders, especially when the setup is supported by major technical levels. But with more and more traders getting their accounts blown up by trying this strategy, is it really worth pursuing?

Some traders lose their money, confidence, and even mess up their relationships whenever they’re in a trading rut. But for some, being on a winning streak can also be as problematic. Read up to know how you can build on your wins and not lose them!

Losing enthusiasm while trading a demo account? Here are three exercises to help you take demo trading more seriously.