Are you new in forex? Or have you been trading for a while?
No matter how long you have been trading, these resources on how to build a consistent and profitable trading strategy will be worthy.
The most important advice is that the key is comfort. No matter what strategy you use, you have to be comfortable with the system you chose. It has to fit your personality or style in order to last and be efficient. Also, having a personalized strategy will prevent a collapse that could bring more losses than profits.
Alex Ong presents in this webinar what he calls “easiest beginners strategy aroundâ€ÂÂ, a better way for a newbie to make money in the markets. A resource that is highly recommended if you’re starting in Forex
In this enlightening article, Sam Seiden emphasises the importance of simplicity in trading strategies. His advice: the best way to simplify is focusing 100% on where the significant institution buy and sell orders are.
Richard Perry has it clear: having a trading strategy is absolutely vital to help you succeed in trading. In this webinar he explains how to build a trading strategy step by step and what factors you must avoid during this process.
Also visit: Trading Strategies on Educational section
In this article, Charis Charilaou gives some advices on how to optimize trading strategies. What he proposes is to apply money management considerations to the analysis of the market situation.
As he explains, this model will allow you to see “why it makes little sense to get very excited when a trade wins or very upset when a trade loses which results in one more very important added advantage in forex trading: much better trading psychologyâ€ÂÂ.
Have you ever realised there are links between making a good wine and making a good trading strategy? In this podcast Rob Booker talks about them and other interesting things about trading strategies.
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Editors’ Picks
EUR/USD holds around 1.1750 after weak German and EU PMI data
EUR/USD maintains its range trade at around 1.1750 in European trading on Tuesday. Weaker-than-expected December PMI data from Germany and the Eurozone make it difficult for the Euro to find demand, while investors refrain from taking large USD positions ahead of key employment data.
GBP/USD climbs above 1.3400 after upbeat UK PMI data
GBP/USD gains traction and trades in positive territory above 1.3400 on Tuesday as the British Pound benefits from upbeat PMI data. Later in the day, crucial data releases from the US, including Nonfarm Payrolls, Retail Sales and PMI, could trigger the next big action in the pair.
Japanese Yen seems poised to appreciate further; awaits BoJ decision on Friday
The Japanese Yen maintains its bid tone through the first half of the European session on Tuesday which, along with a bearish US Dollar, keeps the USD/JPY pair depressed below the 155.00 psychological mark. The growing acceptance that the Bank of Japan will raise interest rates this week turns out to be a key factor behind the safe-haven JPY's outperformance.
Editors’ Picks
How will US Dollar react to October and November NFP? – LIVE
The US Bureau of Labor Statistics (BLS) will publish the official employment report for the first time since the government reopened. Nonfarm Payrolls figures for October and November could provide key insights into the labor market conditions and influence the market pricing of the Fed's rate outlook.
EUR/USD holds around 1.1750 after weak German and EU PMI data
EUR/USD maintains its range trade at around 1.1750 in European trading on Tuesday. Weaker-than-expected December PMI data from Germany and the Eurozone make it difficult for the Euro to find demand, while investors refrain from taking large USD positions ahead of key employment data.
GBP/USD climbs above 1.3400 after upbeat UK PMI data
GBP/USD gains traction and trades in positive territory above 1.3400 on Tuesday as the British Pound benefits from upbeat PMI data. Later in the day, crucial data releases from the US, including Nonfarm Payrolls, Retail Sales and PMI, could trigger the next big action in the pair.
Gold retreats from seven week highs on profit-taking; all eyes on US NFP release
Gold price loses momentum below $4,300 during the early European trading hours on Tuesday, pressured by some profit-taking and weak long liquidation from the shorter-term futures traders. Furthermore, optimism around Ukraine peace talks could weigh on the safe-haven asset like Gold.
NFP preview: Complex data release will determine if Fed was right to cut rates
The long wait is over, and the Bureau of Labor Statistics in the US will release nonfarm payrolls reports for both November and October at 1330 GMT on Tuesday. The overall NFP figure for October is expected to be -10k, however, it is expected to be influenced by a massive 130k drop in federal department workers.
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Making money in forex is easy if you know how the bankers trade!
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What Are the 10 Fatal Mistakes Traders Make
Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.
The challenge: Timing the market and trader psychology
Successful trading often comes down to timing – entering and exiting trades at the right moments. Yet timing the market is notoriously difficult, largely because human psychology can derail even the best plans. Two powerful emotions in particular – fear and greed – tend to drive trading decisions off course.