Big Board Forex

How to Know if Trading is Right for You Key points covered in this article • Should you trade? • Ability • Running the numbers • Active or passive mindset Should you trade? Should you trade? It is a simple question, but not easy to answer. There are many factors to consider but the most fundamental factors center around your ability and willingness to trade. If you answered ‘yes’ to the first 2 questions you can start to consider how much capital you are prepared to risk and whether you prefer an active or passive approach in your journey of wealth accumulation. Ability Ability - The first question you should ask yourself is whether you have the ability to trade. In other words, do you have the asset base? Senior analyst, Tyler Yell compares this to a runner’s aerobic base in preparation for a marathon. A stronger aerobic base, means you can run more miles without body breakdown which leads to a more successful race despite the inevitable developments on race...

4 Big Mistakes Traders Make When Setting Stops Let’s talk about the four biggest mistakes traders make when using stop losses. We always stress using proper risk management but when used incorrectly, it could lead to more losses than wins. And you don’t want that, do ya? 1. Placing stops too dang tight.  The first common mistake is placing stops tighter than those leather pants that Big Pippin used to wear back in the retro days. They’re so tight that there ain’t no room to breathe! In placing ultra-tight stops on trades, there won’t be enough “breathing room” for the price to fluctuate before ultimately heading your way. Always remember to account for the pair’s volatility and the fact that it could dilly-dally around your entry point for a bit before continuing in a particular direction. For example, let’s say you went long GBP/JPY at 145.00 with a stop at 144.90. Even if you are right in predicting that the price would bounce from that area, it’s a possibilit...

5 Trading Tips You Need to Start Using in 2020 • There’s no shortage of Forex trading tips online these days. A quick online search will inevitably provide you with an endless supply of tips to help with your trading. • However, I noticed that many articles were repeats. On top of that, most of the materials only skimmed the surface of their topics, making the learning experience less than ideal. This realization inspired me to create today’s post. • I’m by no means promising that all 5 Forex tips below will be new to you. • What I am promising is that you will learn something new from this post. Not only have I hand-selected the most useful trading topics, but I have also explained each one in considerable detail. • This list comes from more than a decade of trading the Forex market. It’s not exhaustive by any means, but it will give you an excellent starting point from which to beat the competition. • Ready? Let’s get started.   1. No Loyalty Is a Good ...

DAY TRADER’S TRICKS TO CONTROL YOUR EMOTIONS In this article, we will explore which different emotions Forex Traders feel and the things we can do to effectively manage these feelings and take control of our trading destiny. We will also take a look at what common mistakes traders make due to not thinking clearly and how you can learn to identify these pitfalls and how to avoid them in the future.    Humans are Emotional Out of all living beings, humans are to be considered the most susceptible to letting emotions get the better of us and cloud our judgment.   Throughout history, we have seen situations where world leaders of countries have ‘reacted’ to situations rather than respond - resulting in war. Or situations where soccer stars have reacted emotionally in cup finals, getting a red card because of a knee jerk reaction where their emotions have gotten the better of them. We can think of Zinadine Zidane's infamous reaction in the 2006 ...