Forex Twitter loves to point out round numbers on currency pairs and label them things like “Psychological Levels” and “Big Figure”. Don’t fall for this.
We’ve all thought about it. A robot to do all the work for us? Perfect! But is it worth it?
They exist, they can move wildly, and they can be very lucrative in the right hands I’m sure. But are we better off trading them or not trading them?
Even after Episode 4 of the Forex Q&A Podcast, there are still apparently a lot of people who are hesitant when it comes to trading volatile currency pairs. Is there anything to be afraid of here?
We need to define these first. What I’m referring to is using a 2:1 or 3:1 Profit to Loss ratio to trade Forex. Meaning, on a 2:1 ratio, if your stop loss is at 80 pips, your take profit level is at 160 pips. It now becomes a morbid race to see […]
Episode 13’s question wasn’t even a question, and may or may not have had anything to do with Forex trading psychology. But if your question is vague, I reserve the right to turn it into whatever I want.
At over 74,000 Google searches a month, the MACD is one of the most popular indicators in the world. Too bad nobody uses it the right way.
It absolutely is, but only if you understand why.
Trend indicators are easy to find. A good one is not. There are ways to narrow down the search however to find those diamonds in the rough.
There is one area of your Forex journal you need to pay attention to more than any other. And I’ll bet you don’t know what it is.