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.
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.