As one year passes and another arrives it’s an excellent time to review the year that’s been, take some “biggie” improvement action points out of it and step forward with clarity and purpose for an even better year ahead. Here I share an article that I wrote for TraderPlanet so you may benefit too. Here are 5 majors to consider when taking stock.
Why is this article important? Different timeframes aren’t suited to all foreign currency pairs. It’s very important to get the marriage right for success. For some timeframes it may seem obvious which forex pairs are appropriate, but do you really know why?
In this week’s Wednesday Wisdom a TraderRach reader asks, when intra-day trading does it make sense to go for a reward at half my stop loss with a reward to risk ratio of 1:2, or should my profits be bigger than my losses? Thank you to Umair Usman for asking this question that many traders may be pondering. Forex trading systems are so incredibly varied that there are no 100% [...]
In this week’s Wednesday Wisdom we’re exploring a TraderRach readers question, “what’s the best size for a forex trading account?” It’s a question that many of us would ask ourselves. Thank you to Eddie Fuentes for contributing this sound question. “Best” in relation to a forex trading account size is a difficult and impossible question, because what’s best for one forex trader is not best for another. It all comes [...]
Early on in our trading we’re not endowed with the vision and insights to know what successful trading entails. We have some idea, but without first hand experiences or a really involved mentor to steer and guide us, we largely learn by trial and error. Here I’m going to reflect back on my early days as a trader to share the first three lessons I learned, so that they may [...]