Did you ever wonder why professional forex traders say “…Sterling slipped and took a sudden plunge”? or “…Cable is struggling to regain stability”?
Automated trading is a waiting game, more trades does not equal more profit, some of the best robots only open a few trades each month, it is best to wait for the highest probability before any type of risk, this gives you the best chance to win.
This video will help forex traders understand what drawdown means when trading forex on the markets, it will help you understand your risk while trading.
The trading world attracts many different personalities, take a look at which one of these categories you fall into and are you cut-out for the pressures of trading the markets.
Every new trader should read the list below showing the Golden Rules that will help your trading, print the list and stick it near your trading monitor to remind yourself...
Douglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money...
Buy the first pullback after a new high. Sell the first rally after a new low. Afternoon strength or weakness should have follow through the next day.