Goal setting Having something to strive for should be an essential part of your trading plan. It is how we develop and ultimately progress. Goal setting is a component that should not only focus on financial objectives; it should also look at developmental goals as well. Some examples of developmental goals might be: Sticking to … Continue reading How to Build a Trading Plan: Part Four
As briefly highlighted in part one, the staple behind any respectable trading plan will place a strong emphasis on risk and money management principles. What is your overall market risk? Overall market risk is the maximum permissible amount of capital at risk at any one time. As an example, let’s say that we have set … Continue reading How to Build a Trading Plan: Part Two
Numbers have mattered to humans since the earliest civilization, though some propose more significance than others. Humans appreciate values that are easy to process and make sense of. Rounding numbers is, therefore, a common act. Rounding means making a number simpler but retaining its value close to its original. Age is generally emphasised as a … Continue reading Using Psychological Levels in Trading
‘But out of limitations comes creativity’ – Debbie Allen. Ten years ago, smartphones did not exist. Three decades earlier, no one even owned a computer. Today, however, nearly everybody is connected. Thanks to this technological advancement, creating an alternative source of income through trading is appealing. Despite the appeal, many traders, particularly those new to … Continue reading Is It Possible to Trade Forex Part Time?
Updated June 2020 According to the Triennial Central Bank Survey[1], trading in FX markets reached $6.6 trillion per day in April 2019, up from $5.1 trillion three years earlier. The US dollar retained its dominant currency status, being on one side of 88% of all trades. The share of trades with the euro on one … Continue reading The EUR/USD
