Beginning traders often ask us how to choose a legit forex broker. In this regard, we have a few tips.
Choose a good reputation (check reviews), big broker in your country. In case of a legal dispute you always have a chance and it’s easier.
One of the key questions I ask traders is how they get out of positions, can they always get to the TP. If you look at yourself you will find out something interesting about yourself.
Our mind works in several basic modes.
A plan prepared calmly is rational, well thought out and sensible.
However, just before the entry, strong emotions arise and suddenly the same plan seems weak and not adapted to the market.
A trader I met approached me with the following problem. He was having an exceptionally good day, an excellent day in fact. As luck would have it, he entered a large position at the beginning of the day (day trader) and due to the terrorist attack the market fell dramatically…
Today I want to address the answer to a question that is asked very rarely but is critical to long-term results.
This question is shaped as follows:
What is the best system for you?
I believe this question is at least as important as the previous one and for many people more important.
The best traders have one more way to improve their performance – pyramiding. Thanks to that you can increase and expand your profitable position.
Mathematically, the outcome of a system over a long period of time is the expected value. Therefore, we are interested in trades that are as likely and as long as possible and we want […]
Maybe the losses you are experiencing have something in common? It’s not worth waiting for the market to turn around – that’s a toxic idea. If the trade does not meet the assumptions – it is better to go for a loss.
Trader’s decision making process in trading is one of the most important concepts for me. Why? Trading results depend on it. So, what is the decision-making process in trading?
Can traders compete with computers?
The question is how much traders outside of the large funds will be able to compete with a computer that has the decision-making process of the best traders encoded and places positions in hundreds of markets simultaneously I leave open. I don’t think it’s that hard to answer.
