Those wishing to learn to trade must realise this at the outset. It’s when unrealistic expectations fail inevitably to be met that we can so easily turn our backs on what has the potential to be a profitable and rewarding journey.
So, with that in mind there are some fundamentals that need to be put in place at the start.
The first thing is to develop a realistic approach to trading. This means understanding that there are no guarantees, that winning and losing go hand in hand and that quite often the best set-ups will go against us. The market is not tameable.
Therefore, given the unpredictable nature of the market it has to be approached with diligence. What does that mean exactly? Well, amateur trading is often characterised by impatience, wanting to get on with the business of trading and making money; casting around for what look like opportunities to trade and then ‘jumping’ in. It’s quite possible that this approach may yield a few wins, but in trading it’s about the long term, and this approach will not yield long-term profit, in fact quite the opposite. It will only be a question of time before the entire account is lost.
To make a success of trading as an ongoing, long-term means of growing capital a clear-cut and disciplined approach is required. There are three cornerstones that must at all cost be adhered to: A trading plan, an understanding of risk management and the discipline to implement consistently your trading plan and its associated rules. In a way the last, discipline, sounds the easiest and most straightforward, but arguably it’s the hardest of the three. Read More
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REPORT: Trading improvements - Learning Center
REPORT: Reasons to Not Quit Trading - Yohay Elam
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Editors’ Picks
EUR/USD trades with negative bias, holds above 1.0700 as traders await US PCE Price Index
EUR/USD edges lower during the Asian session on Friday and moves away from a two-week high, around the 1.0740 area touched the previous day. Spot prices trade around the 1.0725-1.0720 region and remain at the mercy of the US Dollar price dynamics ahead of the crucial US data.
GBP/USD trades on a softer note below 1.2530 ahead of US PCE data
GBP/USD trades on a weaker note around 1.2502 during the early Asian trading hours on Friday. The modest rebound of the US Dollar weighs on the major pair despite weaker US GDP growth numbers. The US Personal Consumption Expenditures Price Index data on Friday will be in the spotlight.
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 core inflation forecasts, disappointing the Japanese Yen buyers.
Editors’ Picks
EUR/USD trades with negative bias, holds above 1.0700 as traders await US PCE Price Index
EUR/USD edges lower during the Asian session on Friday and moves away from a two-week high, around the 1.0740 area touched the previous day. Spot prices trade around the 1.0725-1.0720 region and remain at the mercy of the US Dollar price dynamics ahead of the crucial US data.
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 core inflation forecasts, disappointing the Japanese Yen buyers.
Gold price flatlines as traders look to US PCE Price Index for some meaningful impetus
Gold price lacks any firm intraday direction and is influenced by a combination of diverging forces. The weaker US GDP print and a rise in US inflation benefit the metal amid subdued USD demand. Hawkish Fed expectations cap the upside as traders await the release of the US PCE Price Index.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.
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