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Forex: How bad do You Want to Boost Your Confidence In Trading Forex.

Forex: How bad do You Want to Boost Your Confidence In Trading Forex.

‘’One important key to success is self-confidence. An important key to self-confidence is preparation’’--Arthur Ashe There are no doubt that most of us traders and investors are still finding it difficult to deal with the pressure of the market. Especially when you are a Day-trader- there is always an urgent need for you to make quick decisions. Still on the market pressure, do you think you...

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In Wild Markets Like These, Take A Page From Seneca The Stoic

In Wild Markets Like These, Take A Page From Seneca The Stoic

Volatility is back. And it’s back in force. We can thank Brexit for getting the ball rolling. A majority of investors get killed in markets like this. But it’s not because they have a bad investment strategy. It’s because they don’t stick to the strategy they have. As Seneca explains in his Letter II:  “…nothing hinders a cure so much as frequent changes of treatment; a wound will not heal...

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Are You Making any of These 3 Trading Psychology Mistakes?

Are You Making any of These 3 Trading Psychology Mistakes?

Many traders with aspirations of becoming a great trader fail because they blow their trading psychology. Let's take a look at 3 of the worst mistakes traders make with respect to trading psychology, and what to do instead. Mistake #1 - Ignoring Trading Psychology Until it is too Late This one is really easy to do, especially since most people think trading is all about the trade setup and...

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Trading Psychology: Are You in Trading Denial?

Trading Psychology: Are You in Trading Denial?

Have you been caught holding onto a bias in your trading?  Most traders have.  A bias can be highly detrimental to trading, causing wrong trades and missed opportunities. It can trigger mental and emotional events that raise stress levels and can make any situation go from not so good to terrible in a flash. Smart People & Denial Sometimes, even very smart people can be in denial....

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How Life Coaching Can Help Traders

How Life Coaching Can Help Traders

Most trader coaching is traditionally focused on teaching traders to trade better. The emphasis is on discipline, trade management and risk management. The more complex workings of the inner life are a side show and not the core of most coaching. Any serious professional will tell you though that trading technique is not the key to lasting trading success. Unlike an athlete who has to refine...

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Trading Psychology: Let Go Of Controlling Your Trades

Trading Psychology: Let Go Of Controlling Your Trades

When I talk with traders who seek my assistance with their trading challenges a big issue is the challenge to hang on to a good trade. We find it very hard to let a position mature, giving it room to breathe. Day traders in particular know the scenario well: You get into, let’s say a $EUR/USD trade: Price moves in your favour only to retrace two thirds of its move in matter of minutes. At...

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Stressed Out? Extend Your Investment Timeframe

Stressed Out? Extend Your Investment Timeframe

Are you a P&L addict? Do you constantly check your account balance minute after minute, day after day, wasting your time and most likely killing your returns? You’re probably aware of the teenage addiction to social media. These kids live for the little notification on their phones, telling them that someone liked their Instagram photo. It’s an instant dopamine shot that feels amazing....

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Trading Psychology: Align With The Energy Of The Markets

Trading Psychology: Align With The Energy Of The Markets

The recent sidelining of the markets, followed by the final break down yesterday has tested many trader. If you were long you probably lost money if you were short you probably lost money. I know, it still seems like a paradox to many traders: Understanding the nature of life is the most important thing you can do to align with the markets’ energy. Understanding and tuning into the rhythm of...

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Trading Psychology: Are You Trading for Profit Or Excitement?

Trading Psychology: Are You Trading for Profit Or Excitement?

There is a general perception among the non-trading public that trading is a very exciting occupation, and that there is a high reward waiting for you if you know how to do it correctly. By high reward, I mean making “a killing”, buying a sports car and a yacht, building a mansion, having a private butler, and so on. Unfortunately, this vision is very far from reality! The fact of the matter...

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Sometimes The Best Move Is To Sit Still

Sometimes The Best Move Is To Sit Still

Michelangelo once said, “genius is infinite patience.” The best traders understand this truth on many levels. Markets are dominated by periods of time where there is “nothing to do.” There’s no clarity, just a bunch of noise. It’s during these times when amateur traders get overly active. They think just because they can make a trade, that they should make a trade. But in reality, there is...

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What Are You? A Turtle Or A Cheetah Trader?

What Are You? A Turtle Or A Cheetah Trader?

The illusion of speed panders to many a trader’s excitable mind: The mind perceives the slow, steady turtle to be rather boring favouring the excitement of the immensely fast cheetah. Speed is often mistaken as the fast track to monetary gains. It is an issue that has many traders lulled into overtrading, trading off too small a time frame in the hope of achieving quick, repeatable results....

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Trading Psychology: Are You Trading for Comfort?

Trading Psychology: Are You Trading for Comfort?

One of the most basic of human instincts is to avoid pain and to seek comfort.  This makes sense.  No one wants to experience pain; we prefer pleasure and comfort.  In trading, however, pursuing what’s comfortable is frequently not a good idea.  Trading for Comfort There are many examples of trading decisions that are made for comfort but turn out to be the incorrect play.  For example, a...

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8 Steps for a Perfect Trading Plan

8 Steps for a Perfect Trading Plan

Everyone talks about having a trading plan, but what should be in it? In the first of two part series, we will be looking into the foundational ingredients of all trading plans. I had to think about this for a long time myself, when I first started out.  I attended all the seminars, and I read all the books, and I was constantly hearing that I needed a trading plan, but no one explained what...

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Trading Psychology: Be a Healthy Trader

Trading Psychology: Be a Healthy Trader

Most people would agree that being healthy is one of the most important things in your life, whatever your profession.  As a trader, you may have already experienced the stress that goes with trading.  In fact, trading is fraught with stress, and stress—especially the kind of chronic stress many traders are familiar with—can be very damaging to one’s health.  Chronic stress has been linked...

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Trading Psychology: Waiting for an Ambush?

Trading Psychology: Waiting for an Ambush?

I have a question for you this week: When you are trading, do you feel like you are waiting to be ambushed? It wouldn’t surprise me if that’s the case because markets are highly random and difficult to predict, so active traders get ambushed all the time. An ‘ambush’ is when the market suddenly does something adverse and costly that you did not expect. It could be news driven or the result...

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