Archive for December, 2009
Forex New Year’s resolutions for 2010
1. Write down my plan for each trade before pressing the buy/sell button. The plan will include the reason for why I am doing the trade, the expected profit, the initial stop loss and the expected duration of the trade. 2. Double-check the order quantity before executing the trade. It is too easy to lose money by buying or selling the wrong [...]
The Expert Advisor advantage
For most people trading in forex is a very manual process. It involves watching charts, indicators, and the news. They then have to work out in their head whether it is a good time to buy or sell. For some strategies this makes a lot of sense. For example if you trade based on news events then you need to be there to interpret how the news will [...]
Five tips for winning at forex trading
1. Exits are more important than entries Forex traders often over think about when they should enter a trade. Huge amounts of time can be spent looking at indicators, reading news, and drawing lines on charts to try and figure out if now is the perfect time to open a trade. Unfortunately for them they should be focusing some of that energy [...]
Book review roundup – Forex, Turtles, LTCM, Stock market and Randomness
I’ve been reading finance and trading books faster that I’ve been able to review them! Here is a roundup of the last five finance and trading related books that I’ve read. Currency Trading for Dummies by Mark Galant and Brian Dolan Mark Galan and Brian Dolan both work at forex.com which is one of the largest forex retail brokers in the [...]
Can trading forex make me rich?
Many people are attracted to the idea of trading in forex (or other financial instruments such as CFDs, shares, or spread betting) because they think it is an easy way to make money. In theory it is very easy. All you have to do is to predict whether a price is going to go up or down. If you are right then you get make money. The degree to [...]
