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Week 34 2019




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No Trader Is An Island

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Admit it. There was a time in your trading career that you thought every single forex trader other than yourself was "a few fries short of a happy meal" and didn't deserve your time of day. You thought to yourself that since only 10% of traders make it, the guy you've been arguing with on the forums about the best moving average system is probably just another unprofitable trader giving unsolicited advice. He's just one of those retail traders who spends more time lurking forex forums instead of actually trading. In trading, people are tempted to do things on their own. And who could blame them? In general, traders are competitive thinkers, and the purpose of creating systems is to have that "edge" over other traders that will lead to more profits than losses. A trader normally feels that his system is better than -insert name of disagreeable forum user here--, so why should he listen to him or her. On the other hand, for others, there is t...
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why account will sharply with the results in live account

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Today we will discuss why your results in your demo account will probably contrast sharply with the results in your live account. When most people start trading, they believe their results trading with fake money will be the same as their results trading with real money. Of course, that is almost never the case. The reason for this is that a person's emotions greatly impact their decision making ability when real money is on the line . We will go over why this is, and we will go over some tips for blurring the line between demo accounts and live accounts. First off, I want to point out that I am not slamming demo trading. Trading a demo is how everyone should learn the basic mechanics of the trading platform. It also allows people to practice following their strategy and practice entering orders. If a trader goes in a slump, it can be effective to switch to the demo for a while. When a trader is in a slump, their brain is so focused on the money they are losing that they...
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