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How to Include Psychology in Your Trading Diary

Over the last several weeks we’ve been mentioning both emotions and your trading diary quite often. Although we’ve said that you should make notes and comments about your mental state during trading, we realized that we need to be a bit more specific about it. So here are some detailed steps on how to combine…

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How to Set Your Trading Station

Just like any new activity we take up, there are mistakes that come from inexperience. Whether it’s going to the gym and buying all the gizmos that tell you when you’re tired (in a visually pleasing and fancy way), or if you want to have a home brewery and you assemble a small factory in…

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MACD: Moving Average Convergence/Divergence

Moving Averages combined with Convergence and Divergence – that’s how you can define the MACD (pronounced “M-A-C-D” or “Mac-Dee”, like Mcdonalds), another widely used technical indicator. The specific thing that makes it stand out and hold a loyal following is that it provides signals in a clear way by interpreting two different moving averages and…

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RSI – Understanding the Most Popular Indicator

The Relative Strength Index (RSI) is probably the most popular indicator. Why is it so widespread? Maybe because of how universally simple it actually is or maybe because it aims to provide clear buy and sell points. That was indeed the intention of technical analyst Welles Wilder, who came up with it in 1978. He…

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How to Plan a Trade in Advance?

Two clicks and you’re rich. That’s what trading looks like to many of the traders that decide to have a go at the markets. But when you actually make a trade, it’s just not like that at all. Trading is just like any professional activity that has the ultimate goal of achieving some sort of…

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More vs Better Trades? Which is Best?

One of the most important challenges that new traders face is how many trades they should make. This issue can be the result of different types of experience – fresher traders might have a cautious approach and do less while they gather a bit of confidence. They could go for the guns blazing approach too…

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6 Important Habits of Successful Traders

Plan your trades in advance and follow through Knowing the open and close price for your positions is what good traders do in advance. This helps against impulsive decisions that usually don’t take all factors into account. Keep a diary Record your trades in a file or on paper. That way you can go back…

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Overcoming our Fight or Flight Instinct to Trade Better

All of us approach trading in a different way. Depending on our age, gender, social status and experience we are more or less patient or aggressive. But one thing lies beneath the surface of all of us – our fight or flight instinct. Some are more analytical and good with math, others go with their…

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How Many Instruments Should You Trade

When you first open a trading account you see a huge number of instruments. Currency pairs, stocks, indexes, gold, oil and lately cryptos like bitcoin and ethereum. It’s a whole new world full of opportunities. It is indeed better to have a choice but making the right one can actually be the difference between failure…

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Discipline in Trading: Why it’s so Vital

Winning several trades when you start trading can feel great. Phrases like “I can do this”, “I’m good at this”, “This is easy” come into your mind. This is one of the first and most critical mistakes new traders make. It’s not about luck, it’s about discipline! Trading is not easy. There are thousands of…

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