I still recalled the day that I attended a large Forex conference in New York City, NY. a number of years ago and watched the managers of a large-scale forex education company illustrate all the reasons why they suggest MF Global as the best broker. The very next week I saw the report that MF Global had gone under.Market Voids – The Invisible Sink Holes for Retail Investors and Traders
Market voids were once rare events, now are occurring more often as the use of Dark Pool ATS platforms increase. Market voids are when the most important and influential long term market participants stop buying stocks and sit on the sidelines.Trading Systems Vs Trading Psychology
Trading systems vs Trading psychology. Is it possible for a trading system especially the mechanical one get rid of the psychology in trading? Eliminating emotion from the equation?
1. Successful traders stay neutral: Staying neutral means to be emotionally detached from your trading decisions. I’ve met many day traders that were emotionally suffering for the rest of the day after losing $100 or even less and when they made $1000 they would be “on top of the world”.Reasons Why Forex Traders Need A Trading Plan
In forex, a solid trading plan will define how you enter and exit trades, how much you risk per trade, and what adjustments you should make. Having one will help you keep track of your trading progress better and it will help you avoid mistakes, but it requires a lot of discipline to stick to the plan. Fortunately, enough practice and screen time will equip you with the self-control needed to follow your trading plan.