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Lessons From Past Performances

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August 20th, 2010 by

A GRASP OF REALITY “You can never achieve anything worthwhile in life by taking shortcuts and in the world of trading, it is absolutely no different.” – Sam Evans Hello: Today we’re going to comment on the real past performances of a group of top traders. There are lessons we can learn from this. These would help us maintain a realistic outlook; remain calm, disciplined and objective while trading. The performances table is displayed below. Please go through it and I bet some thoughts will

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How to Trade

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August 2nd, 2010 by

High frequency finance, with the analysis of tick-by-tick market data, offers new insights in how to trade. Before you continue reading, I want to caution you that over 80% of the traders in any one-year lose money. Of the 20% who ended with a profit, many were just lucky and are likely to lose money in the following year. Does this mean that it is impossible to make money in financial markets? No, definitely not – it is feasible to earn money on a consistent basis, but it is difficult. The

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The Three Laws of Successful Trading

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July 19th, 2010 by

This article is taken from the YourTradingEdge magazine (MAY/JUN 2010 issue) The author, Mario Singh has been trading forex for five years. He is the co-founder and CEO of FX1 Academy, the largest Forex Academy in Asia. He is a popular seminar speaker, writer and forex coach. As he is a regular guest on CNBC, his views are widely sought in the industry. Mario Singh on how to become consistently profitable in the forex market. ‘Until you can manage your mind, do not expect to manage money.’

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An old debate

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July 16th, 2010 by

“News creates opinions whereas price is fact.” — Sam Evans Hello: The supreme goal of any trading activity on the markets is to achieve profit. Therefore it’s natural to use any technique or information that might help us achieve that goal. You know an old debate: Whether technical analysis or fundamental analysis is a better method. None of the two is perfect. There are benefits and drawbacks for each. For example, a good knowledge of fundamental analysis often makes it possible to better

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Creating a trading strategy

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July 13th, 2010 by

One of the most common mistakes new forex traders do, is that they have no trading strategy. Because of the many appealing characteristics (24 hours, trade both short and long, leverage etc) most of the new traders entering the market are eager to prove themselves in an often egoistic approach. Egoistic in that they believe that they can become very profitable and make a fortune in the short term, but soon enough they end up with a bad psychology which at the end accelerates their loosing

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Money Management and Building Your System

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July 12th, 2010 by

The final, and by far one of the most important factors to your success is money management (sometimes also referred to as position-sizing). To illustrate just how important it is to your final results, there has actually been a mathematical study which confirms that even completely random entries, based upon a coin toss and yielding only a 35% “win” ratio, can produce steady profits when combined with proper money management formulas. As a matter of fact, to break it down by level of

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The interview series

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July 12th, 2010 by

Who are the women working in the Forex Market, a typical “man’s world”? How did they get there? How being a woman can be an advantage or disadvantage? How do they manage to combine their private life with their professional career? Why is trading so exciting? We were curious to better know those female bank analysts, traders and strategists. Through our series of interviews, you will discover a myriad of personalities, opinions and careers for these − undoubtedly − atypical women. Enjoy

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The Greatest Traders

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July 12th, 2010 by

What separates the 10% that make money from the 90% that don’t? 10,000 hours. In his recent book ‘Outliers’ Malcolm Gladwell describes the 10,000-Hour Rule, claiming that the key to success in any cognitively complex field is, to a large extent, a matter of practicing a specific task for a total of around 10,000 hours. 10,000 hours equates to around 4hrs a day for 10 years. For some reason most people that ‘try their hand’ at trading view it as a get rich quick scheme. That in a very short

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‘I win, I lose, it’s my job… And I love it!’ – Valeria Bednarik

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July 9th, 2010 by

V. Bednarik PROFILE: • Current Job : Professional Trader and Expert Advisor for Fxstreet.com • Career: 7 years in Forex, 20 years in Accountancy. • Age : 41 After 20 years in Accountancy, Valeria Bendarik left her job to dedicate herself to trading. “I had ‘invested’ in what finally was a Ponzi scheme that left 11,000 victims in South America. So I learned my lessons and decided I could only be serious about it.” After a couple of years studying and teaching through two different

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A Minus-Sum Game

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July 8th, 2010 by

So trading is a zero-sum game? ‘I think it’s a minus-sum game. The amount of money is very large. I had a number in my first book, Trading for a Living, and I thought it was the most scandalous number in the book. Nobody paid attention. 25% of profits and losses. 25% of change. They get lost in the machinery. That’s what makes trading so difficult. Trading is expensive.” – Dr. Alexander Elder “If we want a consistently profitable trading strategy, we had better make sure that the person on the