Currency Trading Information Channel
How To Control Fear And Greed In Trading
There is an old saying that the market is driven by fear and greed. Anyone that has placed more than a couple of trades will surely have experienced these two emotions.
All traders experience emotion. The distinction between a successful trader and an unsuccessful trader comes down to how they deal with that emotion. Let's look at how these emotions affect a successful trader and an unsuccessful trader in various scenarios:
1. The trader's three previous trades have been losers. The unsuccessful trader will consider this before placing his next trade and be fearful that this trade will also end up a loser. This might result in a delay in placing the trade whilst waiting for the price to confirm that they were right - thus missing a perfectly good entry. They might suddenly discover that some other factor, previously unconsidered, is a reason not to enter the trade at all. Basically they will be fearful of another loss.
The successful trader will have tested their strategy extensively and will be aware that a series of losing trades is very probable. They will also measure their success on whether they place the trade according to their system rather than whether it is purely a winner or a loser. They trust their system and place the trade when the set-up occurs. The fear is removed from the trade because they know that several losers in a row is to be expected.
2. Once a trade is entered it immediately moves against the trader. The unsuccessful trader will fear that they have made a mistake. They fear making another loss so they wait and hope that the market moves back in their favour. The fear of taking another loss now controls their trading decisions, they might move their stop further out so the market doesn't take them out for a loss. They might ignore the trade, hoping that it will get back to at least breakeven - the daytrade becomes a position trade of a few days and then it becomes a long term 'buy and hold' strategy.
The successful trader, of course, will know from extensive testing of his system that such trades happen and that the trade might come round or it might hit the stop. His stop is in place and it will remain in place - the system dictates where the stop is, not the trader's fears.
3. Once a trade is entered it immediately moves strongly in the traders favour. The unsuccessful trader will suddenly see a villa in the sun or a new sports car flashing before his eyes. This trade is going to the moon so he removes his price target and decides to let it go. Greed has now completely taken over his trading decisions and the previous plan (if any) is ignored. Of course, markets rarely move in one direction for long and when the market turns the greed turns to fear as the dream slips away and the trader tries to hold on until the price gets back to where it was. The daytrade becomes a position trade...
The successful trader has set a target, either a certain price or a timed exit and will stick to it. If the trade only takes 5 minutes then that's just great, there's plenty that won't.
Fear and greed are human emotions - we can't do anything about that. But, when it comes to trading we need a way to control those emotions. Here's a few tips:
1. Know your system. If you have confidence in your system this helps to override those feelings of fear and greed. Confidence can only come from designing and extensively testing your own ideas. You can never be fully confident when you rely on someone else's tips or signals.
2. Automate your system. Computers do not suffer from fear and greed, they won't hold onto a loser praying for a miracle or screaming at the screen that the market is wrong - they'll just cut it if that is what the system says to do.
3. Money management. Quite simply, no matter how good your system you must only risk a sensible amount - and always money you can afford to lose.
Tim Wreford runs Online Futures Trading, a website that provides information and resources for traders. Tim also provides a free day trading system, the results of which are updated daily on the site.
MORE RESOURCES updated Sun. September / 22 / 2019
Your first 5 minutes as a forex trader ForexLive
How to start out in forex trading, from EagleFX Forex, often shortened to FX or the foreign exchange, is a global decentralized market for the trading of a wide ...
What Is Forex Trading And Why Is It Becoming So Popular? Novinite.com
Trading on the forex market has been slowly gaining popularity over the last 5 years.
What is forex trading and why it is going strong in 2019? Business MattersBusiness Matters
If you have a thing for money, business and trading, then you might have heard a lot about forex trading.
World FX Currency Trading Update: US Dollar Reversal? See It Market
The US Dollar Index reversed sharply when it found resistance Thursday at its regression trend channel. The Euro achieved its downside target and has ...
An Army of Japanese Salarymen Is Rocking Global Currency Markets Bloomberg
Popular tales of “Mrs. Watanabe” -- the canny Tokyo housewife who dabbles in currency trading in between school runs and shopping -- barely begin to tell the ...
India is losing grip on its currency trading, just as the risks increase Livemint
Like any emerging market exchange rate, the Indian rupee is subject to wild gyrations as it responds to policy changes elsewhere.The rupee has swayed to the ...
An army of Japanese salarymen are rocking global currency markets Moneyweb.co.za
Popular tales of “Mrs. Watanabe” — the canny Tokyo housewife who dabbles in currency trading in between school runs and shopping — barely begin to tell the ...
Hong Kong cuts Singapore’s lead as Asia’s currency trading hub South China Morning Post
Average daily trading in Singapore jumped 22 per cent to a record US$633 billion in April from the same period in 2016, just ahead of Hong Kong's US$632 ...
Five tips for when you are struggling in FX trading ForexLive
When the going gets tough, the tough do these five things Tip#1 Deleverage The use of leverage is arguably the most important aspect of risk management and ...
Forex Trading: Everything to Know About Foreign Exchange nairobiwire.com
Forex, also known as foreign exchange, FX or currency trading, has emerged as a viable venture for making money online for many Kenyans in recent years, ...
JP Morgan to launch electronic currency trading platform in Singapore The TRADE News
JP Morgan is set to launch an electronic FX trading and pricing engine in Singapore early next year, following in the footsteps of several other institutions that are ...
Zimbabwe Central Bank Tightens Forex trading Rules The Maravi Post
Zimbabwe's central bank has tightened the rules governing the trade of foreign currency by money exchange offices with immediate effect. The rates offered by ...
Stage Set for Swiss Franc Rally as SNB Saves Policy Ammunition Yahoo Finance
(Bloomberg) -- Currency traders may have a green light to push the franc higher after the Swiss National Bank refrained from joining global central banks in ...
Mugenda: How I landed into forex trading Standard Digital
Mr. Paul Mugenda, a forex trader based in Nairobi (PHOTO: Courtesy) The need to cope with the rising living standards has led many Kenyans into different ...
RBC, TD Bank to pay C$24.5 million to settle forex trading charges: regulator Reuters Canada
Royal Bank of Canada and Toronto-Dominion Bank have agreed to pay a combined C$24.5 million ($18.5 million) to settle charges of foreign exchange trading ...
A risk management plan to follow ForexLive
Risk management 101 This article is for you if you want a starter on risk management that is practical and simple to follow. I have written recently on the attitude ...
Former ION Trading chief appointed CEO of currency trading firm OANDA The TRADE News
Forex and currency trading firm OANDA has appointed industry veteran and the former chief executive of ION Trading Group as its new CEO. Gavin Bambury will ...
The yuan hit an 11-year low this week. Here's a look at how China controls its currency CNBC
Unlike other major currencies such as the U.S. dollar or the Japanese yen, which are allowed to free float in the market, China maintains a strict control of the ...
A peep into the world of foreign exchange Daily Nation
You may have heard about online trading in foreign exchange, also known as forex. You are also likely to have heard about how profitable this venture is.
China’s Currency Is Weakening as the Trade War Drags On The New York Times
There's evidence that the government has been trying to prop up the renminbi, not weaken it drastically.
Euro Price Chart: Breakout Imminent EUR/USD Coils at Trend Support DailyFX
Euro snapped a two-week winning streak with price ranging just above long-term downtrend support. Here are the levels that matter on the EUR/USD weekly ...
Genesis Trading Acquires Quant Investment Firm Qu Capital CoinDesk
Digital currency trader and lender Genesis expanded its trading and research capabilities by acquiring New York-based quantitative investment firm Qu Capital.
Spain raised to A from A- by S&P, outlook stable ForexLive
Traders Could Lose Weekends in Digital Age, BitMex’s Hayes Says Bloomberg
Arthur Hayes, head of one of the world's most popular cryptocurrency exchanges, says traders may lose their midday breaks and even their weekends as ...
(Video) Weekly Forex Forecast for September 23 - 27, 2019 Daily Price Action
In this weekly Forex forecast, I'm going to show you exactly how I'm trading EURUSD, GBPUSD, USDJPY, EURGBP, and EURJPY through September 27.
BitMEX CEO Arthur Hayes Says Traders Could Lose Weekends, Lunch Breaks Cointelegraph
BitMEX CEO and co-founder Arthur Hayes says traditional traders could lose their lunch breaks and weekends once digital finance starts to change the face of ...
Rupee vs dollar: Indian currency trading 22 paise higher on easing of US-China trade tensions - Business Today
Rupee vs dollar: Indian currency trading 22 paise higher on easing of US-China trade tensions Business Today
The rupee appreciated by 22 paise to 71.58 against the US dollar on Friday following positive developments in the US-China trade talks. Besides, firm trend in ...
Cautious investors push dollar lower on mixed trade signals CNBC
The dollar fell modestly against the Japanese yen on Tuesday, suggesting investors were skeptical of the optimism expressed by President Donald Trump on ...
RBC, TD seeking settlements over currency traders sharing private info BNNBloomberg.ca
TORONTO -- Canada's two largest banks are seeking to settle allegations that their currency traders used confidential information in chatrooms to gain potential ...
London overtakes Mumbai in rupee trading: Report Moneycontrol.com
Average daily volumes for rupee in the UK stood at $46.8 bn, exceeding the $34.5 bn recorded in India.
White House trade adviser Navarro says the Fed is costing the US a full point of GDP growth - ForexLive
White House trade adviser Navarro says the Fed is costing the US a full point of GDP growth ForexLive
Pound to euro exchange rate: Stability of British currency under threat by US ruling Express
THE POUND remains stable this week following a positive fluctuation which saw it rise to its top level since June. However, a new decision by the Federal ...
US Dollar Price Volatility Report: USD Eyes Data, Fed-Speak DailyFX
We noted in our last US Dollar price volatility report that the greenback has lacked conviction over its next direction even despite a monetary policy update from ...
London extends global FX lead despite Brexit | David Sapsted Re:locate Magazine
Despite dire predictions of a Brexit downturn, London has strengthened its position as a pre-eminent global hub for financial trades since the EU referendum, ...
Global cues, F&O expiry among 10 key things that will keep traders busy this week - Moneycontrol.com
Global cues, F&O expiry among 10 key things that will keep traders busy this week Moneycontrol.com
Romesh Tiwari of CapitalAim expects the Nifty to continue the upward march with *fresh* long formations expected along with shorts already running for cover for ...
With talk of HKEX’s grab for the London Stock Exchange turning hostile, will ICE step in as an alternative suitor? - Telegraph.co.uk
With talk of HKEX’s grab for the London Stock Exchange turning hostile, will ICE step in as an alternative suitor? Telegraph.co.uk
When California business student Jeffrey Sprecher spotted an opportunity to surf a wave of energy-market deregulation 40 years ago, he had no idea he would ...
Asia Pacific Digital Bank To Launch Stablecoin USDA Soon Yahoo Finance
KUALA LAMPUR, MALAYSIA / ACCESSWIRE / September 21, 2019 / China's Central Bank, the People's Bank of China (PBoC), is planning to introduce its own ...
A beginner's guide to Forex from experts Eagle FX | London Business News London Loves Business
If the world and language of trading stocks and shares are completely alien, but something you want to get to know more about where can you start? The internet ...
US Dollar Price Volatility Report & USD Trading Ranges Post-Fed DailyFX
As USD implied volatility drifts lower with event risk from the September Fed meeting in the rearview mirror, here are the estimated trading ranges for major US ...
China's August forex reserves rise to $3.1072 trillion Reuters
BEIJING (Reuters) - China's foreign exchange reserves rose unexpectedly in August, even as the yuan posted its biggest monthly drop in 25 years amid ...
USD/INR to tread sideways with a positive bias; likely to trade around 70.8-71.47/$ in coming weeks - Moneycontrol.com
USD/INR to tread sideways with a positive bias; likely to trade around 70.8-71.47/$ in coming weeks Moneycontrol.com
In the coming week, we could see the currency pair to trade in a particular range with slightly positive bias.
Forex Trading for Beginners Yahoo Finance
Forex trading can be an exciting and lucrative activity, but it can also be tough, especially for beginners. Newcomers underestimate the important of financial ...
Stocks mixed, oil down as markets await news on Saudi plant San Francisco Chronicle
BANGKOK (AP) — World shares were mixed on Tuesday and oil prices eased back pending updates on restoring output at a Saudi Aramco oil processing plant ...
Rupee Settles Lower At 71.78 Against Dollar: 10 Things To Know NDTV News
The rupee settled 18 paise lower at 71.78 against the US dollar on Tuesday. The local currency opened lower at 71.83 and declined to an intraday low of 71.98 ...
Pound Sterling Hits Best Levels in Months Following on Juncker Optimismt Pound Sterling Live
The British Pound is the best performing major currency thanks to comments made by a leading European leader on brexit.
Rupee opens 24 paise down at 71.36 after Fed rate cut; local currency witnesses heavy volatility in early... - Firstpost
Rupee opens 24 paise down at 71.36 after Fed rate cut; local currency witnesses heavy volatility in early... Firstpost
The Indian rupee opened 24 paise down at 71.36 against the American currency on Thursday after the US Federal Reserve cut its benchmark interest rate.
Argentine peso steadies, along with nerves Aljazeera.com
A day after government announces measures to shore up currency, Argentines hope the worst is behind them.
From pecan pralines to 'dots' as currency: how the prison economy works The Guardian
The long read: When economic freedoms are taken away, informal markets will always find new and ingenious ways to satisfy demand.
European shares end the day with modest gains ForexLive
German DAX little changed. France's CAC Up 0.5%. For the week, the major indices are ending with modest changes: In the benchmark 10 year note sector, ...
US Dollar Price Outlook: EUR/USD, GBP/USD, USD/CAD, AUD/USD DailyFX
The September FOMC rate decision is now in the books and, at this point, nothing has yet broken. The range in the US Dollar remains despite the near-term ...
USD/JPY Forecast: Dollar to Continue Falling DailyForex.com
The US dollar fell during the trading session against the Japanese yen on Thursday as we had finally got a bit of an answer to the question of whether or not th.
Currency Trading for Beginners Benzinga
If you're new to currency trading – look no further. FOREX.com is one of the world's largest forex brokers. Account holders get competitive pricing, award-winning ...
The Bank of Tanzania Studying Cryptocurrency and Online Forex Trading Impact in Tanzania - bitcoinke.io
The Bank of Tanzania Studying Cryptocurrency and Online Forex Trading Impact in Tanzania bitcoinke.io
A circular from the Central Bank of Tanzania shows that the bank is conducting a study to assess the extent of cryptocurrency impact on the Tanzanian economy.
Stocks Inch Up On Local Tailwinds Despite New US-China Trade Jitters DailyFX
New clouds appeared over the US-China trade story but the two sides are at least still talking and Asian stock investors founds things to cheer elsewhere.
Trade currency pairs: your guide to trade currency pairs Capital.com
Trade currency pairs CFDs, shares, commodities, cryptocurrencies and indices through Capital.com's award-winning platform. No commission. FCA and CySEC ...
Japan’s Coincheck Crypto Exchange Reduces Leverage by 20% Cointelegraph
The platform will reduce leverage from 5x to 4x in its latest overhaul, which is scheduled for the end of October.
Gold Price Outlook Hinges on Fed Rhetoric, US NFP Report DailyFX
*Fresh* comments from a slew of Federal Reserve officials may influence the price of gold as there appears to be a growing dissent at the central bank.
Future Returns: The Risk and Reward of Foreign Currency Exchange Markets Barron's
While most advisors recommend leaving the foreign currency exchange market to the pros, individual investors are increasingly entering the market as ...
Never lose hope in currency trading business Rocky Mountain Collegian
Sponsored *Content*: Never lose hope in currency trading business A good trader will know about the right kind of performance in the business. It is very.
How to Start a Currency Trading Business Virtual-Strategy Magazine
Thinking on how to start a currency trading business? Then you are in the right place. Currency trading remains the largest financial market in the world. It's.
Forex Trading Philippines Benzinga
If you live in the Philippines, trading in the forex market has its own set of rules. Learn how to trade, and the best forex brokers to use for 2019.
Is forex trading profitable? Capital.com
Want to learn how to make money on forex? Find out the major factors to consider and learn how to profit from forex trading.
Forex trading – what are the best currencies to trade? Capital.com
In the world of currency trading, an essential fact is frequently overlooked, which is that foreign exchange rates are reference numbers, not expressions of ...
Apply "the secret" to forex trading success ForexLive
What's "the secret" behind successful traders? The Forex market is the largest trading network in the world with $1.8 trillion dollars being exchanged every day.
A Guide to Trading Forex in Canada Benzinga
Looking to trade forex in Canada? Read our guide to learn about the rules, regulations, and the best brokers to use in 2019.
EUR/USD technical analysis: Euro ends the week below the 1.1023 level Forex Crunch
EUR/USD ends the week in the lower part of its range but struggle to generate any meaningful breakdown. The level to beat for bears is the 1.1000 handle.
UPDATE 2-London forex trading turnover surges to record high Reuters
Britain's daily foreign exchange turnover rose to a record high in April, the Bank of England said on Tuesday, as investors concerned about central bank policy ...
Venezuela loosens currency exchange controls to allow forex trading Reuters
CARACAS (Reuters) - Venezuela will allow local banks to open foreign currency trading platforms as part of a loosening of the OPEC nation's exchange controls ...
EUR/USD trading flat around 1.1030 ahead of... forexcrunch.com
EUR/USD looks for direction near 1.1030 on Monday. German trade surplus widened to €20.2 billion in July. September EMU Sentix index coming in later.
How to Invest in Forex | The Smarter Investor U.S. News & World Report
One type of investing many people are interested in now is foreign currency exchange, referred to as forex. While the concept of forex trading seems fairly simple ...
AUD Stuggling But Underpinned By More Robust Risk Appetite DailyFX
The Australian Dollar took knocks last week from several directions, both foreign and domestic. This week may be better for the bulls, if only a little.
What you need to know about Forex trading The Standard
There are many benefits and advantages of trading forex. Nevertheless, key among them is that there is no waiting for the opening bell.
Interest Rate Derivatives Trading Explodes to $6.5 Trillion/Day WOLF STREET
The volume of over-the-counter (OTC) interest rate derivatives traded globally soared by 141% in three years to $6.5 trillion per day in April 2019, according to ...
The Twilight Trading Hour Strikes Currency Markets Again The Wall Street Journal
There is a fragile spot in the $5.1 trillion currency market: early morning in Asia. This one- to two-hour period when U.S. traders are heading home—but market ...
FX Trading - Currency Trading FXTM
Discover the details of foreign exchange, currency trading, currency pairs, forex market hours, forex trading fundamentals, trading signals and more. | FXTM ...
Retail forex trading set to go live today Economic Times
Mumbai: A new retail currency trading platform goes live today enabling thousands of small businesses to trade at market prices, possibly ending years of ...
Best Trading Platforms For Forex Trading In 2019 NuWire Investor
Thanks to a rapid rise in the number of trading platforms over recent years Forex still comfortably remains the world's most popular market. It has simply never ...
Best platform for Forex trading Augusta Free Press
Forex or as most people know it, foreign exchange, is a decentralized world market where people can trade, buy or sell currencies.
Why Forex Trading is growing 7NEWS
It might come as a surprise that foreign exchange is not a 'relatively' new means of trading. Here are some reasons why retail forex trading is growing.
Learn the Basics of Trading Currencies FX Empire
Learning the basics in currency trading is not complicated. Building your own strategy to make and making it work is a different story.
What is Forex Trading? Complete Beginner's Guide MoneyCheck
Forex is the art of buying or selling one currency for another - Find out more in our complete guide to Forex Trading for Beginners.
5 Tips for Investing in Currency | Investing 101 U.S. News & World Report
Currency can help balance a portfolio but investors must be careful.
Forex trading: Understanding account types and differences ForexLive
Instaforex: See what different account options are available to FX traders There are a number of different account types available in the FX sphere and this article ...
VertoFX raises $2M for its African and EM currency trading platform TechCrunch
VertoFX, an Africa and emerging markets-focused currency trading and payment startup, has raised a $2.1 million seed round, led by Accelerated Digital ...
Rupee Advances By 52 Paise To Settle At 71.14 Against Dollar NDTV News
Continuing its winning run for the sixth straight session, the rupee climbed 52 paise to end at 71.14 against the dollar on Thursday as signs of easing trade ...
How Does Forex Trading Work? FinSMEs
Forex trading is one of the most profitable money-making options — a successful trader can double their investment in 6 months.
How to Start Forex Trading in South Africa: A Complete Guide • Benzinga Benzinga
Learn more about how to start trading forex in South Africa, including what you'll need to start and the best forex brokers.
How to Trade Forex | Forex Trading Examples IG Bank
Follow six steps to easily start trading forex. See forex trading examples, learn how FX markets work and find out what you need to do to place your first trade.
What Are The Benefits Of Forex Trading? ValueWalk
As already mentioned, Forex trading does not cost a lot of money if you are beginning, especially when compared to equity markets.
A Detailed Look at Forex Trading Kalkine Media
In simple terms, forex trading, is the currency trading. It is one of the most liquid and traded financial markets in the world, with transaction volume exceeding $ 5 ...
The currency-trading scandal continues to dog the banks The Economist
Banks are in the frame for Britain's latest collective-action claim.
How to be a forex expert ForexLive
What is the forex market Anyone who has ventured into the real marketplace would definitely have an idea what a Forex is and share the this horizon can bring.
Forex Trading – What You Need to... Forex Crunch
Forex trading is popular with many people because you do not need to make a large investment to get started. However, while it's certainly possible to.
5 Reasons Why You Should Work With Forex Brokers When Trading NuWire Investor
A forex broker is an individual or a company that carries out a trader's orders in order for them to create profit in the market. In order to ensure success, one must ...
Investor’s Manual: What Is Forex? The Ticker Tape
The foreign exchange market (forex) allows investors to trade two currencies against each other. Forex rates are what it costs to exchange one country's ...
Learning the basics of forex trading The Financial Express
You need to invest through a Sebi authorised broker to ensure that your forex trading actions are legal.
Forex Trading: 5 Best Tips for Beginners - VENTS Magazine
A lot of new traders enter the currency market daily. Trading in Forex market is exciting, efficient and offers exceptionally high liquidity. Forex trading profits can ...
Are forex trading signals for you? ForexLive
What you need to know about signals from UBCFX Foreign exchange or forex is defined as the exchange of a nation's currency for that of another is. Overall, the ...
Forex Trading Tools Benzinga
FOREX.com is one of the world's largest forex brokers. Account holders get competitive pricing, award-winning customer *service*, actionable data and powerful ...