It's always a good time to improve your trading by leaving it for a
minute and look at your statistics (wot! - you don't do any?). If you
don't do them, then now's the time to start.
I'm amazed
by patterns that I find, such as every time I trade GBPJPY I lose, or
that Fridays seem to be a poor trading day for me. I can also find which
pairs I make the most pips on, or if shorter term trades work better
for me.
These are all useful things to know and they can really affect your bottom line. So give it a go, make your stats work for you.
Sunday, 4 November 2012
Thursday, 25 October 2012
Some Advantages of FOREX Trading
A small summary:
1. Trade 24/7 - The Foreign Exchange markets don't close during the week!
2. Your not bogged down with hundreds of stock tickers - there are only a handful of good 'liquid' trading 'pairs' - so this ultimately saves time.
3. Leverage - This means you can control a lot of money with only a small outlay, and benefit from large gains by providing a relatively small stake. (Remember though that it works both ways, so you can also lose big as well!)
4. You can trade in rising and falling markets by either buying or selling the currency.
1. Trade 24/7 - The Foreign Exchange markets don't close during the week!
2. Your not bogged down with hundreds of stock tickers - there are only a handful of good 'liquid' trading 'pairs' - so this ultimately saves time.
3. Leverage - This means you can control a lot of money with only a small outlay, and benefit from large gains by providing a relatively small stake. (Remember though that it works both ways, so you can also lose big as well!)
4. You can trade in rising and falling markets by either buying or selling the currency.
Monday, 22 October 2012
Binary Bets - Again!
I've been getting some better results with my binary bets lately.
You know those screen shots that people make of their binary bet account showing lots of wins in green and conveniently none of the red losses?
They then try to sell you a strategy that shows how you can win lots, usually by making heavy cost bets with small returns, i.e. placing a £10 bet to win £12.
Trouble is, the strategy still involves actual risk assessment by looking at currency charts and seeing if a particular bet is worth it or not.
I've tried out this method and it does seem to work, but you must not get carried away. You must stick to the same risk each time which should be what you are prepared to lose per go (In the above example = £10).
Good luck - Although 'luck' should not be part of your strategy!
You know those screen shots that people make of their binary bet account showing lots of wins in green and conveniently none of the red losses?
They then try to sell you a strategy that shows how you can win lots, usually by making heavy cost bets with small returns, i.e. placing a £10 bet to win £12.
Trouble is, the strategy still involves actual risk assessment by looking at currency charts and seeing if a particular bet is worth it or not.
I've tried out this method and it does seem to work, but you must not get carried away. You must stick to the same risk each time which should be what you are prepared to lose per go (In the above example = £10).
Good luck - Although 'luck' should not be part of your strategy!
Sunday, 21 October 2012
My e-book on Amazon Kindle!
I like to write in an easy style, so have improved “FOREX – Dos and Don’ts” for any newbies to Foreign Exchange trading.
There’s also a lot of stuff for the more experienced trader as well. It’s in nice easy chunks, so you won’t get bogged down!
Have a look: FOREX - Dos and Don'ts Book
Friday, 19 October 2012
My First 100 Pip Trade!
Just once in a while, these lovely trending trades come up and this time I was ready.
I suppose the moral of the story is to be patient, place lots of trades to learn and have a good exit strategy.
For this one, I checked to see charts on lots of timeframes all showing the same directional move.
Friday, 1 June 2012
A New Start Shorting Stocks and Currencies
Right - It's time to get back into regular trading!
Now is a good time to find some good trades in amongst the uncertainty of the future of the Euro.
Although this may seem to be unethical, profiting from the declining markets, that is what trading is all about. I have had a bearish stance on a lot of US and FTSE stocks recently, and sell currencies regularly, to make money as they go down in value.
Shorting is not a dirty word, it is just a part of trading - the bit that most people don't understand and therefore don't know about. When you tell somebody that you can sell something you don't own and then 'buy it back' at a later date, they look at you as if you have two heads! - Mathematically, it's just the reverse of buying something and selling it at a later date. We all know that a stock or currency goes down much more quickly that it recovers, so now is the time to act and benefit from this.
Happy Shorting!
Now is a good time to find some good trades in amongst the uncertainty of the future of the Euro.
Although this may seem to be unethical, profiting from the declining markets, that is what trading is all about. I have had a bearish stance on a lot of US and FTSE stocks recently, and sell currencies regularly, to make money as they go down in value.
Shorting is not a dirty word, it is just a part of trading - the bit that most people don't understand and therefore don't know about. When you tell somebody that you can sell something you don't own and then 'buy it back' at a later date, they look at you as if you have two heads! - Mathematically, it's just the reverse of buying something and selling it at a later date. We all know that a stock or currency goes down much more quickly that it recovers, so now is the time to act and benefit from this.
Happy Shorting!
Thursday, 26 January 2012
FOREX Dos and Don'ts
Just got a new cover sorted out for my e-book 'FOREX Dos and Don'ts'.The book is just a simple list of the things you need to do when trading the Foreign Exchange markets to maximise your success, or how to do more of what the professionals do, and less of what they don't!
Have a look at: FOREX Dos And Don'ts Book
I've built up this list from all of my own experiences over the years and urge beginners and more experienced trader to check it out!
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