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Convictions, beliefs, and trading
Why at all think, talk, and write about things like convictions or beliefs in terms of trading? After all, trading is about making money, not psychology or some esoteric stuff. Is it really so? Isn’t it the trader that makes money? Or loses money, since according to statistics provided by brokers, around 70-90% of traders lose money. Traders are humans with their human flaws, traumas, and other psychological or emotional baggage that may influence trading. If we consider all this, a closer look at the trader’s mindset may lead to interesting discoveries and solutions to problems they encounter in their daily trading. Our convictions and beliefs may play a more…
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When not to trade – Situations which cause trading errors and mistakes
This article covers the situations which are not related to the market or the system, and yet affect trading. These are the potential contexts in which you shouldn’t really trade, because you will most likely make a trading error and lose money. It is part of my strategy series, for both new as well as more experienced traders. A strategy for trades and trading activities management in case of various situations that may occur in life should be a part of any trading plan. Or at least you should have a general protocol on what to do in different situations, to avoid trading under emotions and making mistakes. Some of…
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Doing the right things at the right time
This text is also available as a podcast – click the play button above to listen. If you give it a thought, trading is all about doing the right things at the right time. If this is what you do, you will definitely be successful. However, I already hear the voices saying: “Yeah, easier said than done…” If you’re one of these voices, hold on for a moment, and stay open-minded 🙂 . After some time spent on the market, your mind already knows what to do and when to do, because it has learned it by observation and repetition. So, you’ve got the skills and are capable of doing…
Forex – Trading – Freedom