In this article, I thought being able to discuss the most common language you will encounter while trading in the Forex markets was important so you don’t feel as if you’re in completely over your head. You should be prepared enough to follow along with the lingo when going through your education to learn how to trade, and I’m hoping to provide you with some of the most common language you can expect to see beforehand. The first most common term you can expect to see a lot of is Pips. The following are 12 terms you're likely to encounter:
There’s an old adage, “You’re only as strong as your weakest link.” This can be relevant in many settings from team sports to trading. Now, in sports, the weakest link is an individual; but what is the weakest link in trading? With trading being a rather extensive skill-inducing task, it can take time and effort to find the weakest link; but once found, it can drastically improve your trading. Let’s go a few of the most common weak links that traders experience and how to find out if it's one of yours.
When you first begin trading in the Forex market, it can be extremely overwhelming if you don't understand the tools and terminology you'll be studying. While you go through the process of learning the basic fundamentals of trading I thought it would be helpful for you to know a few quick tips on how to save money while you go through your trading journey.
With trading being a high-risk venture that some choose to take, there are bound to be negative reviews by certain individuals. Aside from the risk of trading, certain brokers and companies that individuals trade with cause negative experiences that set a stigma for trading. This is the reason that many individuals don’t start trading. They hear stories of losses and of companies having bad practices so they decide not to trade. However, this can be said about anything. If someone started bagging on your favorite restaurant, would that change your mindset about the restaurant altogether?
“You have the power to decide how you will respond to uncertainty.” -Yvan Byeajee
I thought it would be great to have a list of ways you can increase your productivity when trading for those times you might be feeling a little burnt out. I try to run through some things I can do to get me excited to trade all over again if I notice I’m starting to lack in my trading routine. The first thing I suggest is trying to wake up and get plugged into the market earlier when its most volatile, which allows you to take advantage of all that movement and give yourself time to research higher time frames! This gives you a chance to also go over price and time cycles, which gives you the chance to prepare your statistics as well. If you work full time and only trade part-time however, creating a work calendar will do wonders to keep your personal and work-related errands and to-do list organized, and you will feel less stressed out.