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Trading Strategies, Psychology
Quick Trading Tip #1 – Developing patience in your trading
When we first start to trade, or subsequently (as a more experienced trader) when we trade a new symbol or system we are often “excited” as we see a “hope” for better results. We often forget that the development of expertise in other areas we have in life (think about what you do in work now for example), you must invest time, effor...
October 23, 2019Read More >Getting started with your trading journal – Free Download
Those of you who have attended any of our LIVE Inner Circle education sessions, or participated in our courses, will know that a regular theme covered is the importance and benefits of measuring your trading. One of the key tools we often discuss is the use of a trading journal. For those of you less familiar with this as a concept, a ...
September 20, 2019Read More >Making trading choices – A trading journal?
We frequently refer both in the articles we publish and the weekly “Inner Circle” sessions we present, to the benefits of a trading journal. However, the reality is that many traders make the choice not to measure trading despite the logical benefits of doing so. Whether you do or don’t currently, the bottom-line decision you are...
August 30, 2019Read More >Avoid the FOUR traps following a major trading capital drawdown
There are few long-term successful traders that at some stage have not suffered a major capital drawdown on their account at some stage. For whatever the reason the major factor as to whether you continue and get back to “winning ways” or continue to see further drawdowns is what you do next. Unfortunately, there are “traps” that...
August 27, 2019Read More >8 attributes of trading as a business rather than as a hobby – A checklist
Many traders recognise the positive nature of the theoretical philosophy of treating your trading as you would a business, and yet the majority are unsure about what this may mean in practical terms and fail to move beyond the “hobby trader” in their trading activity. Recognising the potential wisdom of a “trading business approa...
August 19, 2019Read More >When good news may be bad news for market sentiment
Market response to any specific economic data release is far from standard even if actual numbers differ greatly from consensus expectations. Rather the market response is based on context of the current economic situation. This week’s non-farm payrolls, being one of the major data points in the month, is a great case in point. There are ma...
August 10, 2019Read More >Share CFDs: “Professionals close the market”?
Traditionally, one of the long-lasting market clichés is that the “amateurs open the market the professionals close it”. Although this may be a little simplistic, there is no doubt that commonly trading volume in equity markets is at it’s highest at the beginning and the end of the day, but of course there are active market partic...
August 10, 2019Read More >Another New Indicator? – 4 Key Questions to ask
Invariably, the motivation to look at adding another technical indicator beyond that which you are already using, is a belief that your trading results, and the system that creates these, could be improved. As traders, we are bombarded with information relating to the use of technical indicators to guide decision making in our entry an...
August 10, 2019Read More >Two Advanced Position Sizing Techniques to Consider in Your Trading
Irrespective of what vehicle you are choosing to trade (Forex, CFDs, share CFDs), position sizing is a crucial part of your trading risk management. It is position sizing, along with effective exit strategies, that have an undoubted major impact on your trading results both now and going forward. At a basic level, the following are part of a...
August 8, 2019Read More >When good economic news is bad news?
Market response to any specific economic data release is far from standard even if actual numbers differ greatly from consensus expectations. Rather the market response is based on context of the current economic situation. This week’s non-farm payrolls, being one of the major data points in the month, is a great case in point. Th...
August 2, 2019Read More >3 significant benefits of having an FX trading buddy
By Mike Smith Let’s face it, trading can be a lonely occupation sometimes. Along with the hope of picking up a “hot tip”, this seems to be a key reason why trading forums are so popular. Unfortunately many people leave such forums almost as quick as they join them, simply because many users are not particularly supportive and often seem...
July 29, 2019Read More >Trading plan statements – Developing consistency in action and measurement
A written trading plan, usually comprising of several guiding action statements, serves the following two invaluable purposes: Facilitates consistency in trading action e.g. in the entry and exit of trades, allowing the trader AND Measures the strategy used specified within each statement to make an evidence-based judgement on how well thes...
July 16, 2019Read More >ASX Share CFDs: Timing Entry: “The professionals close the market”?
Traditionally, one of the long-lasting market clichés is that the “amateurs open the market the professionals close it”. Although this may be a little simplistic, there is no doubt that commonly trading volume in equity markets is at it’s highest at the beginning and the end of the day, but of course there are active market participants thr...
July 9, 2019Read More >5 influencing factors on the impact of economic data in your trading
There are few times when the market (irrespective of trading vehicle) is more likely to move in price quickly than on the release of some economic data. Judging potential market response can be complex as often many data points are released in quick succession but is an important component of overall risk management relating to your trading positio...
July 3, 2019Read More >Setting Up Phone MT5 Trading Notifications For Pending Orders
The ability to set up phone notifications for trading activity on your MT5 platform has many advantages including of course the opportunity to “Check-in” on the market whist on the move. It could be argued that this ability goes beyond simple convenience and in the case of “pending orders” could be viewed as an important part o...
June 18, 2019Read More >