A recent poll of retail forex traders found that over 3/4 of the respondents opened and maintained their forex accounts with less than $5000 with most having between $1000-$2000. That is absolutely in line with my experience of talking to traders from around the world for the last 20 years so it seems only natural […]
How to Break Down the 24hr FX Market
One of the questions I get asked most about the FX market is: “With the market being open for trading 24 hours a day, five days a week, should I be looking to take trades whenever I want to?” Even I had this question when I first started with Forex! Most traders start out in […]
Stock Trading vs. Forex Trading
Most people who start out in trading start in stocks. It’s pretty easy to see why. Stocks are always in the news! CNBC almost exclusively talks about stocks and any time a market is in the news, stocks are the focus. And it’s easy to see why. Stocks are easy to understand because investors like […]
Is Psychology Important in Trading?
Is Psychology Important in Forex Trading? The old statistic that everybody throws around is the 95% of traders fail. And if you’ve been around the game long enough you’ve probably been through some stuff that makes you understand that statistic and believe it. Trading is the hardest easy thing that anyone will ever do. There […]
Managing Risk
Today, we are going to talk about managing risk What’s the first thing that comes to your mind when I say “manage risk”? I can guess… Stop losses! It’s the “industry standard” answer for managing risk… Do they work? Absolutley! If a trade is working against you, a stop loss does exactly what it says […]
Higher Interest Rates and Inventory
Higher Interest Rates are here to stay… for a while. What does that mean to FX? First, we have to look at the U.S. Dollar. That’s the pivot for this entire scenario playing out in front of us. Obviously, the U.S. Dollar has been parabolic for quite a while. You don’t need me to tell […]