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 Recover After Losing Your Entire Trading Account

Losing everything you deposited in a trading account is more common than most people believe. It’s actually part and parcel for most traders, especially at the beginning of their trading journey, before they find their bearings and a trading method they can rely on. Whether it’s because they lack discipline, don’t have a trading diary…

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4 Tips on How to Trade Large Positions

Trading large positions, moving serious money around, risking, but also profiting. That’s the image we have in our heads once we start trading (or even before). Making it big! But for most this is a just a destination and the journey towards it holds the keys to not only reaching it but also staying there.…

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Adding to Positions – How and Why?

Adding to positions while they’re still open isn’t something that’s usually a part of the initial trading plan. It’s more of an advanced skill and it can be used for both a winning or a losing trade. But what many traders underestimate is how this affects them in purely mental ways. When adding to a…

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Does the 10 000-Hour Rule Apply To Trading?

All good things come to those who study. At least that’s what parents say and it’s why some new traders start on an arduous journey of applying the famous 10 000-hour rule to their studies of the market. But is this number really relevant when it comes to trading forex, stocks and cryptocurrencies? To answer…

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Feeling Regret About Your Trades? Use it!

Just like with almost everything in life, trading can cause regret. Whether it’s for a missed opportunity or for a wrong decision, those little red and green numbers have the ability to push us into some pretty extreme emotions. Regret can control our behavior because it happens right after we’ve had a bad trade. It…

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Boredom in Trading: How to Overcome it?

There are times when there’s absolutely no boredom in trading but there are long periods when there’s no movement at all or your trading plan doesn’t allow opening a new positions. Other moments can actually be extremely exciting. The rush we get when we see a position become profitable is quite remarkable. The despair, anxiety…

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Breakeven Trades – How to Make the Most of Them

We all trade to make money. We focus our attention on the trades we made a huge profit on and we sweat over the ones that lost us part of our account. Breakeven trades don’t get so much attention. But what the majority of traders don’t realize is how important they actually are. First, let’s…

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4 Tips on How to Avoid Fear and Greed in Trading

Even people who have just entered the trading world quickly notice something interesting – when prices start falling they seem to do it really quickly, almost like falling from a tall cliff. Upward momentum on the other hand is quite often at a steady and moderate pace. There are exceptions of course but this does…

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Greed Not to be Mixed with Trading

Almost all people who go into trading are at least partially driven by greed. Maybe not in a bad way, maybe not in excessive amounts. But it is there. This is natural and is part of our human psyche. But it can lead to disastrous consequences if you let it drive your decisions and trades.…

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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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