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Why You Should Use Forex To Attain Financial Freedom

Maranda Mann

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Why You Should Use Forex To Attain Financial Freedom
By Maranda Mann
What Does FOREX Stand For ?

FOREX stands for Foreign Currency Exchange Market. It is gaining more and more interest in the investing world, and for good reason. The FOREX Market is the largest market in the world and can be accessed anywhere in the world. The FOREX Market's volume is over 1.5 Trillion, providing almost infinate liquidity and flexability.

How do you trade?

Instead of trading "stocks" where there is thousands to choose from, you are trading pairs of currency against eachother. This gives you an advantage because you can focus on just 2 pairs of currencies instead of countless stocks. You can trade from your home computer, or any computer with an internet connection from anywhere in the world.

When do you trade?

The FOREX Market is open 24 hours a day so you can trade whenever you want! You just need a computer, a Demo or Real Money account and a willingness to learn, research, and trade!

Why Should I Trade?

You should only trade if you are ready to change your mind about how much money you CAN make and reach your full potential.

You should trade forex because its a great tool to leverage your time and replace your income. Here are the benifits of Trading Forex:

You can work anytime you want 24 hours a day, 6 days a week. Its

5 Common Mistakes Newbie Traders Make
It isn't always easy being a noob. Whether it's in taking on a new job, starting your own business, or trying out a different sport, the degree of uncertainty in a new and unfamiliar undertaking can sometimes be overwhelming and push you to commit mistakes. Trading is no different. Here are five of the most common mistakes that newbie traders make: 1. Trading Without a Plan or Journaling Even noobs fresh out of the School and in their first week of trading know that the market is as<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=qehfDYnHCgE:3ssczwzR8jo:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=qehfDYnHCgE:3ssczwzR8jo:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=qehfDYnHCgE:3ssczwzR8jo:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=qehfDYnHCgE:3ssczwzR8jo:F7zBnMyn0Lo" border="0"></img></a> </div>
What Matters Most
I often have mentioned that when you are aiming to master your mental game it is important to support your ability to focus on ?what matters most? in the trade. As we look at this statement, let?s consider the components of ?what matters most? in the trade. Of course, high up on this list would be your ability to identify the order flow. The imbalance in the order flow is what creates the price action and it is imperative for you to be able to determine when the order flow is going to change<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=s4GKAx65Sz4:iG_88b0r1LE:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=s4GKAx65Sz4:iG_88b0r1LE:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=s4GKAx65Sz4:iG_88b0r1LE:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=s4GKAx65Sz4:iG_88b0r1LE:F7zBnMyn0Lo" border="0"></img></a> </div>
Grow Your Psychological Capital
In trading, I believe there is such a thing called "psychological capital." Think about it for a second. Whenever traders decide to quit and give up on trading, it is not really their money that has run out. What has really happened is that they have exhausted their psychological capital, preventing them to move one. After all, when their account balance has dried up due to losses, they can always work again, save money, and start anew. More than the money you put in your account, you also<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=dleUYQXRxhU:fvM42sYdJ1c:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=dleUYQXRxhU:fvM42sYdJ1c:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=dleUYQXRxhU:fvM42sYdJ1c:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=dleUYQXRxhU:fvM42sYdJ1c:F7zBnMyn0Lo" border="0"></img></a> </div>
Changing Your Results
Has this ever happened to you? You look over your trades at the end of your session and notice a landscape that caused you to wonder who stole your mouse. In fact, it seemed as though you were in a fog or a trance; a dream-like state that left you tripping over bad habits and old patterns that acted like a deep rut from whence you couldn?t escape. In other words you were barreling ahead oblivious to plans, rules or trading commitments where your behavior was driven by fear and/or greed. You<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=Dwb2YGubTwY:0o3CCTw_9P0:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=Dwb2YGubTwY:0o3CCTw_9P0:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=Dwb2YGubTwY:0o3CCTw_9P0:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=Dwb2YGubTwY:0o3CCTw_9P0:F7zBnMyn0Lo" border="0"></img></a> </div>
Trading Is Not A Game Of Perfect
Perfectionist tendencies can be very destructive for traders working in the financial markets with incomplete information, risk and uncertainty. Perfectionists can get held up from placing trades as they search for the perfect set-up and they can also struggle with taking losses and learning from mistakes. This month's podcast talks about the effects of perfectionism on trading performance and provides some useful tips for how traders can overcome their perfectionist tendencies.<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=aVF0cJJOTFI:gOa9DKrSzys:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=aVF0cJJOTFI:gOa9DKrSzys:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=aVF0cJJOTFI:gOa9DKrSzys:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=aVF0cJJOTFI:gOa9DKrSzys:F7zBnMyn0Lo" border="0"></img></a> </div>
Run Your Own Race
Many years ago, horsemen invented blinders to keep their horses focused on their work. Blinders are pieces of leather attached to the horse's bridle that prevent them from seeing anything except what's in front of them. Without blinders, a horse can see almost completely behind itself without turning it's head and can be easily spooked by movement or objects it doesn't recognize. By having fewer distractions the horse is more dependable and stays focused on getting the job done. As a trader, I<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=4ugszqp2icw:og04U2bsZCU:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=4ugszqp2icw:og04U2bsZCU:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=4ugszqp2icw:og04U2bsZCU:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=4ugszqp2icw:og04U2bsZCU:F7zBnMyn0Lo" border="0"></img></a> </div>
How You See Affects How You Trade
How often have you seen something that upon closer examination turned out to be something very different? Or, have you ever looked at the price action and acted upon what seemed to be a perfect price pattern; then wrote your plan, executed the plan, and summarily were stopped out; only to go back to what you thought was the price pattern that now looked entirely different?! It was like a dream. What you perceived was predicated upon how you ?filter? information. You interpreted what you saw<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=oLgtIvdrcWA:3leZk7QxKQE:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=oLgtIvdrcWA:3leZk7QxKQE:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=oLgtIvdrcWA:3leZk7QxKQE:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=oLgtIvdrcWA:3leZk7QxKQE:F7zBnMyn0Lo" border="0"></img></a> </div>
Greed: The Most Dangerous Emotion
A greedy person and a pauper are practically one and the same. The Swiss proverb above couldn't be more true for us traders. As you may know, many traders (and their accounts) have suffered because of greed. In fact, this is how the saying "Bulls and bears make money; hogs get slaughtered" came about. No other animal embodies greed better than the hog, and in the trading business, the markets show no mercy to hogs. What is greed? The Merriam-Webster definition describes greed as "a selfish and<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=5Lj9gQrqP1o:37vU5RvuWV4:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=5Lj9gQrqP1o:37vU5RvuWV4:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=5Lj9gQrqP1o:37vU5RvuWV4:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=5Lj9gQrqP1o:37vU5RvuWV4:F7zBnMyn0Lo" border="0"></img></a> </div>
Trading in Alignment with Yourself Means Trading Your Best
Have you ever tried to ride a bike that had wheels that were out of alignment? It is not a pretty site. Once when I was on a century ride for the last 30 miles I felt a strong tug, which made me feel as though I were in a head wind. I had to work twice as hard to go half as fast. It was very difficult to say the least. When I reached the end of the ride I noticed that I had broken a spoke. This meant that the wheel had become out of alignment and looked like a wobbly noodle. As a result, the<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=_815-9PJ5Ic:AaIMw_jZJtc:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=_815-9PJ5Ic:AaIMw_jZJtc:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=_815-9PJ5Ic:AaIMw_jZJtc:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=_815-9PJ5Ic:AaIMw_jZJtc:F7zBnMyn0Lo" border="0"></img></a> </div>
3 Ways to Develop Confidence in Trading
I would say that trading is arguably one of the most difficult career paths one could choose. It involves working under conditions that are full of uncertainties. This means that traders rely on probabilities to come out successful, which could result in unexpected outcomes. You may be swimming in pips one day and be down in the dumps the next! Because of the nature of trading and its effects on the psyche, it is important to be strong and have a lot of self-confidence. In the most basic sense,<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=h6UZDBdAeRU:QZ9OAbee3S4:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=h6UZDBdAeRU:QZ9OAbee3S4:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=h6UZDBdAeRU:QZ9OAbee3S4:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=h6UZDBdAeRU:QZ9OAbee3S4:F7zBnMyn0Lo" border="0"></img></a> </div>
Are You Trading Out of Control?
How much of your trading are you consciously aware of? When you make a decision to enter a trade or exit a trade how fully conscious are you of what you are doing and why you are doing it? Research from both psychology and neuroscience suggests that a large amount of our experience is automated with the risk being that whilst on automatic pilot we miss things, and some of what we miss might have a significant impact on your performance. The implication for traders is an importance in ensuring<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=ExTfaDckjNw:R3VWob3epIc:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=ExTfaDckjNw:R3VWob3epIc:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=ExTfaDckjNw:R3VWob3epIc:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=ExTfaDckjNw:R3VWob3epIc:F7zBnMyn0Lo" border="0"></img></a> </div>
Growing Your Psychological Capital
In trading, I believe there is such a thing called "psychological capital." Think about it for a second. Whenever traders decide to quit and give up on trading, it is not really their money that has run out. What has really happened is that they have exhausted their psychological capital, preventing them to move one. After all, when their account balance has dried up due to losses, they can always work again, save money, and start anew. More than the money you put in your account, you also<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=HQcHRi_oiJw:nvgbzKOTAkU:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=HQcHRi_oiJw:nvgbzKOTAkU:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=HQcHRi_oiJw:nvgbzKOTAkU:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=HQcHRi_oiJw:nvgbzKOTAkU:F7zBnMyn0Lo" border="0"></img></a> </div>
The Questions You Ask Can Mean Winning or Losing
Lisa finally closed the trade, but not before she had lost her daily limit in this one trade. She was not happy about the outcome; however she knew that it could have been worse. She said to herself, ?Even though it is a lot of money, I am getting better at identifying zones and executing the trade according to my plan.? She then shut down her platform and began to go through her end-of-trading-day routine. It wasn?t as though Lisa liked to lose; it was just that she had learned to accept<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=EbCOX7DEHUM:7BMkggdR9fM:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=EbCOX7DEHUM:7BMkggdR9fM:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=EbCOX7DEHUM:7BMkggdR9fM:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=EbCOX7DEHUM:7BMkggdR9fM:F7zBnMyn0Lo" border="0"></img></a> </div>
Allowing Winners to Run
Sally felt like she was in the zone. Her plan had identified a demand zone on the 60 minute ES E-mini chart and the price action had pulled back as it was about to enter it. She had placed a limit order on the 5 minute chart to go long in the zone and bracketed her order so as to place a stop just below the demand zone when she was filled. Sally prepared for the trade and she had determined that it was high probability with a good chance of hitting her target. The trade got filled and stalled<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=HbAX4tQy84g:5okyxtdI4fA:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=HbAX4tQy84g:5okyxtdI4fA:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=HbAX4tQy84g:5okyxtdI4fA:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=HbAX4tQy84g:5okyxtdI4fA:F7zBnMyn0Lo" border="0"></img></a> </div>
Essentials of Trading
What does it take to become a consistently successful trader? Well, there are several essentials that you must consider in order to ensure that you are not gambling. Of course, there are many that would conclude that trading is gambling; but the difference is the level of calculation in the risk assessment and putting the odds in your favor by identifying high probability trades and strictly following rules. Gambling, such as playing the lottery or roulette for instance, is purely chance<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=tR5ymgvJfZ8:gSqPxVAGLa0:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=tR5ymgvJfZ8:gSqPxVAGLa0:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=tR5ymgvJfZ8:gSqPxVAGLa0:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=tR5ymgvJfZ8:gSqPxVAGLa0:F7zBnMyn0Lo" border="0"></img></a> </div>
Don't Take Losses Personally
Harry Dinkleburg just lost his beer money on a Cable short. He blames the market, flexes his fingers, and then aggressively shorts all the pound pairs with huge position sizes. He then loses his son's college fund on the same day, so he calls it quits and ends the day before lunch. Harry Dinkleburg lacks vigor, or the ability to function well in the face of psychologicalstress. Instead of moving on from a losing trade, he aggressively took on risky trades in an effort to regain his losses. And<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=XkqaAzuTQNY:6-y0H_b9ro0:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=XkqaAzuTQNY:6-y0H_b9ro0:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=XkqaAzuTQNY:6-y0H_b9ro0:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=XkqaAzuTQNY:6-y0H_b9ro0:F7zBnMyn0Lo" border="0"></img></a> </div>
Improving Trading Follow-through Means Downloading New Habits
His sleep-filled eyes could barely focus on the chart staring back at him from the computer screen. He felt sluggish, foggy, and slow but what was quite clear is that he had violated his rules and had lost again. Oscar?s anger began to rise through the fog as he asked the question, which fell like a dead weight on the silence around him: ??Why do I always lose in the morning? It?s like the markets know that I?m coming and they just wait till I enter then go the other way.? His day had begun<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=koNfQRB877w:ffNaRZRADdk:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=koNfQRB877w:ffNaRZRADdk:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=koNfQRB877w:ffNaRZRADdk:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=koNfQRB877w:ffNaRZRADdk:F7zBnMyn0Lo" border="0"></img></a> </div>
Use Regret in Your Favor
I spent this past weekend shelling out big bucks for one of those mammoth, motorized people transports you and I call an SUV. Boy, this sucker is huge! As I sat in my new (used) car, images of scaling mountains and crossing desert terrains filled my imagination. Hill climbing, rock climbing, mountain climbing, here I come! And then? a tap on the shoulder. The salesman awoke me from my vegetative state of drooling to show me the final all-in purchase price. Wow! Sticker shock! The images of<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=5MTfCU5ssWQ:vo2yO7M0988:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=5MTfCU5ssWQ:vo2yO7M0988:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=5MTfCU5ssWQ:vo2yO7M0988:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=5MTfCU5ssWQ:vo2yO7M0988:F7zBnMyn0Lo" border="0"></img></a> </div>
The Three D Process: An Important Way to Keep Your Trading On Target
The trader stared at her screen, it was like she had been in a bad dream and had just awakened to find that it was not a dream at all. She couldn?t believe it. She had been doing so well?and for weeks now. But there it was in front of her eyes; one of her largest losses ever. In fact, she really couldn?t remember when she had lost so much money in a trade. She felt sick to her stomach, her head ached, and she was shaking. It all began so well this morning. She went through her morning routine<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=PMtczQcLvqI:PN8Dpt2f7H8:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=PMtczQcLvqI:PN8Dpt2f7H8:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=PMtczQcLvqI:PN8Dpt2f7H8:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=PMtczQcLvqI:PN8Dpt2f7H8:F7zBnMyn0Lo" border="0"></img></a> </div>
Emotions, Decisions and Discipline
Emotions play a vital role in trading decisions. Harnessing the right emotions and being able to manage more extreme and negative emotions is a critical part of trading with discipline. In this podcast you will discover the latest findings from neuroscience on how emotions impact decision making, how to develop emotional awareness and learn a powerful technique for managing stress and fear based emotions.<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=3M9p6m803vM:PaJ2f9t-s0Q:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=3M9p6m803vM:PaJ2f9t-s0Q:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=3M9p6m803vM:PaJ2f9t-s0Q:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=3M9p6m803vM:PaJ2f9t-s0Q:F7zBnMyn0Lo" border="0"></img></a> </div>
5 Mental Mistakes Traders Often Make
Before you open a real live account it is important that you familiarize yourself with the most common mental mistakes new traders make. You'll probably still make them anyway, but at least you'll actually be aware you're making them which hopefully will make easier for you to correct them. 1. Overconfidence Trading for a living can be a dream come true, but it can also be a nightmare. If believe trading is easy, you're done before you even started. Trading is not easy. Trading is hard. Real<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=R5iBmcP-hN4:fPyOA4nvTAU:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=R5iBmcP-hN4:fPyOA4nvTAU:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=R5iBmcP-hN4:fPyOA4nvTAU:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=R5iBmcP-hN4:fPyOA4nvTAU:F7zBnMyn0Lo" border="0"></img></a> </div>
Your Ego Can Get Your Trading Into Trouble
Have you ever heard someone comment on another person's behavior by saying that they have a big ego? What does it mean? Generally speaking when someone is saddled with this label it means that the individual is perceived as conceited, self-centered, perfectionistic, having to always be right, having difficulty accepting criticism, self-absorbed or arrogant. Of course they may exhibit all or none of these negative traits, but more than likely they may have an inflated opinion of themselves that<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=xcsWJxoAdBg:hfjxqLm17vQ:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=xcsWJxoAdBg:hfjxqLm17vQ:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=xcsWJxoAdBg:hfjxqLm17vQ:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=xcsWJxoAdBg:hfjxqLm17vQ:F7zBnMyn0Lo" border="0"></img></a> </div>
5 Tips to Help Part-time Forex Traders
I don't know about you guys, but after seeing Limitless, I've been wishing I could do the amazing things Morra was able to do! In the time it takes to pop a pill, he went from not knowing simple concepts, like the difference between the "ask" and "bid" price, to becoming THE ultimate market wizard! All the other traders around him were in shock and awe to say the least, and as for me, I'd sell my grandpops for a lifetime supply of those pills! (Sorry Pops, but you understand, right?) Well,<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=8LS8upVxTQM:jO-eKm8FgOc:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=8LS8upVxTQM:jO-eKm8FgOc:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=8LS8upVxTQM:jO-eKm8FgOc:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=8LS8upVxTQM:jO-eKm8FgOc:F7zBnMyn0Lo" border="0"></img></a> </div>
Language ? It Defines Your Trading Reality
How do you describe your trading process? What are your biases and beliefs about trading and about yourself, and how do you express them? Actually, language and how you use it defines your reality; it can make your reality positive or negative, promising or apocryphal. "Hold on," you might say, "Reality is what it is and will not change based upon what you say about it." And, I would say, "Yes, you are correct." However, your language about reality ? or your meaning of it - can change your<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=oN9wyoGiBOM:4VVb6iAqsq0:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=oN9wyoGiBOM:4VVb6iAqsq0:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=oN9wyoGiBOM:4VVb6iAqsq0:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=oN9wyoGiBOM:4VVb6iAqsq0:F7zBnMyn0Lo" border="0"></img></a> </div>
Two Most Common Mistakes Newbie Traders Make
I want to discuss the two most dangerous mistakes made by noob traders: Undercapitalization Overtrading Undercapitalization Insufficient initial capital is the first mistake by beginners and usually ends up killing them. I've seen traders such as myself blow their whole trading account during the first month or week. I blew one of my accounts in thirty minutes! The trading capital is lost even before you have the time to properly learn to trade. This is what usually happens to a new traders:<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=Z0HiL2NRqHA:l87bPYHfRRI:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=Z0HiL2NRqHA:l87bPYHfRRI:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=Z0HiL2NRqHA:l87bPYHfRRI:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=Z0HiL2NRqHA:l87bPYHfRRI:F7zBnMyn0Lo" border="0"></img></a> </div>
The Order Flow is All Important to Your Trading Success
Have you ever noticed the price action rising like a rocket in an extended rally or plummeting in an extended sell-off? If you've been trading for any length of time, the answer of course would be yes. Ahh, but the more important question is, how did you respond? If you are a novice, you probably took one look at it and thought to yourself, "Wow, look at that; I've got to jump in on this because it will give me a win." Did you feel an emotional surge of say, excitement or greed? Then, what did<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=l7Rzbi3hLnQ:djNc_G1Vo5s:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=l7Rzbi3hLnQ:djNc_G1Vo5s:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=l7Rzbi3hLnQ:djNc_G1Vo5s:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=l7Rzbi3hLnQ:djNc_G1Vo5s:F7zBnMyn0Lo" border="0"></img></a> </div>
Hybrid Trading: Is it for You?
For those who aren't comfortable with purely mechanical systems or those who get carried away by their emotions in using a 100% discretionary approach, a hybrid trading style could work better for you. If applied properly, this type of trading can combine the best of both worlds and be a better way to trade for you. What's the difference between a mechanical and discretionary trading style anyway? A purely mechanical system requires the trader to trust a system of signals based on price based<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=yLGGYqxXJCA:XC9g1BqPW_c:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=yLGGYqxXJCA:XC9g1BqPW_c:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=yLGGYqxXJCA:XC9g1BqPW_c:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=yLGGYqxXJCA:XC9g1BqPW_c:F7zBnMyn0Lo" border="0"></img></a> </div>
Are You Trading to Win or Trading Not to Lose?
As an answer to the title question, many traders might say that they are trading to win. But, actually you might be surprised to know that most people are trading not to lose when participating in the financial markets. What is the difference? Well, let's begin with trading not to lose. It is based on the philosophy that as a trader, you must remain in the comfort zone and if you are knocked out of your comfort zone, you must scramble to get back in by grabbing the first thing that affords you<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=doLmWvAJ_uo:sXFkfFZS3XM:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=doLmWvAJ_uo:sXFkfFZS3XM:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=doLmWvAJ_uo:sXFkfFZS3XM:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=doLmWvAJ_uo:sXFkfFZS3XM:F7zBnMyn0Lo" border="0"></img></a> </div>
4 Tips to Limit Distractions While Trading
It's 9:00 pm. After a long day at work, Jimmy sits back with his laptop on his lap and an episode of Desperate Housewives blaring in the background. He's in the mood to do a bit of scalping and he has just opened a short GBP/JPY position. His trade is up for the moment, and he tells himself he'll exit manually once price reaches his target. But wait a second, what's this? Eva Longoria in a skin-tight dinner dress?!! He stares at the TV with eyes wide open, unaware that in the three minutes he<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=0y-jrvQHBjY:eLexps8wICk:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=0y-jrvQHBjY:eLexps8wICk:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=0y-jrvQHBjY:eLexps8wICk:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=0y-jrvQHBjY:eLexps8wICk:F7zBnMyn0Lo" border="0"></img></a> </div>
Rules are Your Road Map to Trading Results
"Success is not final, failure is not fatal: it is the courage to continue that counts." Winston Churchill Part of the definition of "rule" is that it is a "governing action" or "procedure." When you consider governing action, it really encapsulates the way that rule-based trading relates to results-oriented trading. This is because rules are essential to the trading process. Actually, if you are trading either without rules, or if you are not following the rules that you have established,<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=kaXkVc33Og4:wL1N8HcYvm0:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=kaXkVc33Og4:wL1N8HcYvm0:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=kaXkVc33Og4:wL1N8HcYvm0:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=kaXkVc33Og4:wL1N8HcYvm0:F7zBnMyn0Lo" border="0"></img></a> </div>
Adding to Positions and How it Affects You
Adding positions to an open trade is an advanced trading technique that, although potentially risky if not done correctly, can magnify profits exponentially. But just like every other aspect of trading, this technique can have a strong psychological effect that may hinder your trading performance. Adding to Losing&nbsp;Positions Whether you're "averaging down" on a long position or "averaging up" on a short position, adding to a losing position is a technique that we don't normally recommend<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=zVVdjLgJ3IM:_EOX8Os783k:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=zVVdjLgJ3IM:_EOX8Os783k:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=zVVdjLgJ3IM:_EOX8Os783k:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=zVVdjLgJ3IM:_EOX8Os783k:F7zBnMyn0Lo" border="0"></img></a> </div>
Develop a Positive Trader Trance
Have you ever emerged from a trading session in a fog and found yourself looking over the trading carnage of violated rule after violated rule and heard yourself say, "Who made those trades?" And, as the fog lifted, it became clear that you had been trading like a crazy person? It was like someone or something had control of your mouse and you felt as if you were in a trance; a negative trading trance to be exact? Well, if this or something similar has happened to you, then listen up...you are<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=Aryl60jj87M:BfQJMN0VYVg:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=Aryl60jj87M:BfQJMN0VYVg:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=Aryl60jj87M:BfQJMN0VYVg:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=Aryl60jj87M:BfQJMN0VYVg:F7zBnMyn0Lo" border="0"></img></a> </div>
Reprogramming Yourself for Better Trades
It had happened before, actually many times before. Jim looked on with a feeling that swung like a pendulum between helplessness and anger. He felt helpless because he had violated his rule despite the fact that he had so often said that he wouldn't. He felt angry because he had let himself down. What happened is that he had moved his stop. He had moved it four times in this trade to be exact and the price action had still moved against him. To make matters worse, what would have been a small<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=RHW7A3-nHFA:0SSlSDNwBrY:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=RHW7A3-nHFA:0SSlSDNwBrY:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=RHW7A3-nHFA:0SSlSDNwBrY:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=RHW7A3-nHFA:0SSlSDNwBrY:F7zBnMyn0Lo" border="0"></img></a> </div>
8 Questions You Should Ask Yourself before Going Live
Meet Ralph. He's fiddled with demo trading for two weeks and decided that it's time to put real money on the line. After setting up his very own live account with a broker, Ralph opens the platform right away to input his very first trade. "It can't be that difficult. All I have to do is find a trade setup, click a few buttons here and there, and I'll raking in the dough! I can picture myself now living the life of a superstar Forex trader: making piles of cash and cruising down Sunset<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=IENehnzeO8k:cGGfamAQ80Q:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=IENehnzeO8k:cGGfamAQ80Q:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=IENehnzeO8k:cGGfamAQ80Q:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=IENehnzeO8k:cGGfamAQ80Q:F7zBnMyn0Lo" border="0"></img></a> </div>
The Now of the Trade is Where the Power
Trading can be a very challenging endeavor indeed; and one of the variables that makes trading so difficult are the emotions that become activated in the process. The reason why emotions become so involved is because with every tick of the market while you are in a trade, you are either gaining or losing "money." It is the only business venture where this takes place. Additionally, money or capital is a sociopolitical and economic driving force in our society. Power and influence are direct<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=Psq7sgFPyho:8fr1adNWw6s:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=Psq7sgFPyho:8fr1adNWw6s:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=Psq7sgFPyho:8fr1adNWw6s:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=Psq7sgFPyho:8fr1adNWw6s:F7zBnMyn0Lo" border="0"></img></a> </div>
2 Truths You Should Know in Trading
1. Expect the Unexpected Face it. No matter how much effort you put in your analysis, you still won't have a hundred percent accurate idea of where the market is headed. There's always the chance that a surprise is waiting just around the corner, maybe in the form of an unannounced currency intervention or shockingly dovish comments from a central bank official. In fact, these unforeseen events can go beyond the economic arena and also come in the form of natural catastrophes or a sudden<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=yk4LKUfIFH8:uiz1926ZN3g:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=yk4LKUfIFH8:uiz1926ZN3g:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=yk4LKUfIFH8:uiz1926ZN3g:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=yk4LKUfIFH8:uiz1926ZN3g:F7zBnMyn0Lo" border="0"></img></a> </div>
The Importance of Documenting Your Trades
Ralph looked on feeling anxious and tense as the price action inched toward his stop. He had drawn a supply zone on the ES E-mini 60 minute chart and had placed his stop 2 ticks above the top line of the zone. He told himself, "Oh, crap, it's going to take me out." He didn't like being stopped out as he admitted to himself that, "Nobody does." But he also reminded himself that, "I have the stop in to protect me and it is doing what it is designed to do...and that's OK." Just then he saw that<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=swrNhOqYs3w:YTFn89zHGOY:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=swrNhOqYs3w:YTFn89zHGOY:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=swrNhOqYs3w:YTFn89zHGOY:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=swrNhOqYs3w:YTFn89zHGOY:F7zBnMyn0Lo" border="0"></img></a> </div>
Does Size Matter?
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. One of the most common mistakes traders seem to make is entering a trade with the correct number of lots, otherwise known as "position size". As a newbie, your risk should never be more than 1-2% of your total account. That means if<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=D-4WjsfDmFs:KFDF8VBR0cE:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=D-4WjsfDmFs:KFDF8VBR0cE:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=D-4WjsfDmFs:KFDF8VBR0cE:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=D-4WjsfDmFs:KFDF8VBR0cE:F7zBnMyn0Lo" border="0"></img></a> </div>
Greed is the Flip Side of Fear
Merriam-Webster's Dictionary defines greed as simply, "... a selfish and excessive desire for more of something (as money) than is needed." Greed is often referenced as one of the main contributors to trading loss. Greed mangles the mind by distracting the trader from what matters most in the trade, which is quite frankly, to protect your capital by prudent planning and following rules. It also distorts your judgment regarding high probability strategies and effective follow-through.<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=NEokr_7AU9c:hwwh-6q92cA:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=NEokr_7AU9c:hwwh-6q92cA:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=NEokr_7AU9c:hwwh-6q92cA:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=NEokr_7AU9c:hwwh-6q92cA:F7zBnMyn0Lo" border="0"></img></a> </div>
3 Ways to Help You Take Demo Trading More Seriously
Unless you're some uber-genius who can predict what will happen in the next two minutes, chances are that you started your forex trading career with demo trading. There's no shame starting with a demo account - it's where all the pros first honed and developed the skills that made them mad moolah later down the road. The problem starts when, after just a couple of months (or even just weeks) of demo trading, some traders start to slack off and not take it seriously. They think, "Why am I<div class="feedflare"> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=ZjFmpoqMD-w:REPe9699RrY:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=ZjFmpoqMD-w:REPe9699RrY:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?d=qj6IDK7rITs" border="0"></img></a> <a href="http://feeds.fxstreet.com/~ff/education/market-psychology?a=ZjFmpoqMD-w:REPe9699RrY:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/education/market-psychology?i=ZjFmpoqMD-w:REPe9699RrY:F7zBnMyn0Lo" border="0"></img></a> </div>


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