Updated March 2020 Imagine you’re a newly appointed trainee chef. Eager, excited and daydreaming of becoming a world-renowned culinary chef, the head chef unexpectedly throws a curve ball. He asks you to begin preparations to cook at one of their finest restaurants that evening. This would surprise and shock most trainees. A trainee chef needs … Continue reading Making Use of Your Demo Account
‘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?
A question often asked is why results achieved on a demo account tend to differ from live trading? Among other things, the effects of trading psychology act as a key driver. Live market conditions draw in psychological elements typically not encountered in a simulated environment. In a nutshell, live trading involves depositing actual funds into … Continue reading Demo Trading vs. Live Trading
Updated March 2020 Operating in the financial markets will forever remain a learning process. For that reason, memorising the subtle nuances of each trade is of the utmost importance. This helps recognise mistakes and ultimately mature as traders. How we do this is by maintaining a trading journal. Keeping a trading journal is akin to … Continue reading Making Use of a Trading Journal
Learning how to regulate psychological conflicts is as important as developing a well-defined risk/money-management strategy and trading methodology. Having all components function side by side is paramount to successfully trade. Unfortunately, trading psychology is often overlooked. Many traders mistakenly believe developing solid trading methodologies is all that’s required to profit. If you’re incapable of regulating … Continue reading Trading Psychology: How to Begin Thinking Like a Professional Trader
