Learning to trade can be a bit like climbing a mountain. When you first start all you can see is this huge task ahead of you and maybe not even see a road or track to get started on your journey. You know where you want to go but maybe not how to get there and not in a safe and risk managed way and you would most likely need a guide.
Is there such a thing as ‘High Probability of Success’ trading? As a trader, if you are sufficiently capitalised, employ robust Risk & Money Management and can manage the uncertainty of trading the Hard Right Edge of the charts by having a structured approach, you don’t need to be right all the time. In fact you can make decent money by only being right 50% of the time. But as a trader you never stop learning and are always trying to improve your ‘process’ of trading, with the aim of achieving better results. One way of improving your trading process, is to add an additional check into your pre-trade preps….
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I’m often asked ‘What is Swing Trading and why do it, rather than Intra-Day trading? This post is an attempt at answering that question and also to highlight my view on the Pros and Cons of Swing Trading. Continue reading
Think of a Currency Pair Like A See Saw
‘How To Trade Foreign Currency‘ is a common question asked online and one I get asked all the time, so I thought why not answer that specific question. In order to understand how to trade foreign currencies, it is important to know that a currency’s value is always relative to another currency, such as the GBP vs the USD giving the currency pair, the GBPUSD. Once you have selected a currency pair, then you are ether buying it, selling it or doing nothing. If you Buy the GBPUSD currency pair, then it is because you think the GBP will strengthen in value against the USD, over time. Similarly, if you sell the GBPUSD it is because you think the GBP will weaken against the USD, or the USD will strengthen in value compared to the GBP, over time. Once you understand this concept then there are several ways to trade Foreign Currency: Continue reading
