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One in the Bank is as Good as Two on the Chart

The Geared Investor — Tue, 09 Dec 2008 08:28:00 EST

I'm sure there are times when all of us look at a chart during a trade and think, 'I really need to lock in that profit before the market turns'. But what happens if this decision goes against your system that you have worked so hard to establish over hours and possibly even years of paper and real trading? I'm not going to lie, I struggle with this myself more often then I would like.

How to Recover from a Bad Trade

The Geared Investor — Tue, 09 Dec 2008 08:25:00 EST

Everyone has had a day where they were following their well planned system, and then they walked away from the computer only to find a horrible loss waiting to greet them when they get home.

Automatic Systems Take the Fun Out of Trading Forex

The Geared Investor — Tue, 09 Dec 2008 08:24:00 EST

Trading the foreign currency markets takes a fair amount of time no matter what system you use. When I first started trading, I found that I wanted to create a system using Metatrader that will trade itself while I was either in the classroom or on the golf course.

Why I love Overbought and Oversold Conditions

The Geared Investor — Tue, 09 Dec 2008 08:22:00 EST

There are times when you start rubbing your hands together and stare at the computer screen with a sinister look. If I had a handlebar mustache I would be twirling it at the corners.

Forex Resources That Will Make You a Better Trader

The Geared Investor — Tue, 09 Dec 2008 08:20:00 EST

Getting started in forex will, put plain and simply, make your head spin. There is alot of garbage out there, and even more dead ends than there are culdesacs in suburbs. I won't begin to tell you which broker to choose because that is another post for another time.

Who is REALLY Considered a Professional Forex Trader?

The Geared Investor — Tue, 09 Dec 2008 08:17:00 EST

I feel inclined to write articles like this because I feel that the number of successful forex traders who are willing to help are greatly outnumbered by traders or programmers who are just out to make a buck at the expense of others.

Foreign Currency Doesn't Suffer from a Global Recession

The Geared Investor — Tue, 09 Dec 2008 08:14:00 EST

I just took a look at the headlines and noticed that the Nikkei just plummeted more than 7% in early Japanese trading because of global recession fears. News flash: This isn't breaking news.

Are You Scared to Pull the Trigger on a Big Trade? I Can Help

The Geared Investor — Tue, 09 Dec 2008 08:12:00 EST

I have friends and family members that ask me if I get nervous when trading. I simply answer that if you've done your homework and you're making educated trade that you have researched, there is no need to be nervous. I hope this article helps you pull the trigger and makes you a better trader.

Don't Get Cocky When Your Trading is on a Hot Streak

The Geared Investor — Tue, 09 Dec 2008 08:11:00 EST

I'm just as guilty as every other trader for this crime. That is why I'm humbly writing this post to help you learn from my experiences. Getting cocky about a few winning trades when just starting can be the worst things that can happen to a new forex trader.

How to Become as Good a Trader as You Want to Make Yourself

The Geared Investor — Tue, 09 Dec 2008 08:08:00 EST

It has been my finding that new traders in any market do not succeed because they are flat out lazy. The statement that 90% of traders fail could quite possibly be true. But of the 90% of the traders that fail, 100% of those traders either fall in the category of lazy, have no persistence, or can't handle the mental roller coaster.

Think You're Closing Trades Too Early? Hindsight is the Devil

The Geared Investor — Tue, 09 Dec 2008 08:04:00 EST

I had to write this article because I know from personal experience how hard it can be mentally for new and experienced traders to let go of a trade that they closed too early that went for much bigger gains immediately after.

Great Traders Gauge Themselves by How Many Good Trades They Make, Not How Much Money They Make

The Geared Investor — Tue, 09 Dec 2008 08:02:00 EST

When I started trading forex I realized that 90% of the people who get into trading currencies are here because they think they are going to become rich. Whether you trade stocks, bonds, futures, options, forex, or any other flavor of investments, your goal should not solely be to make money.

Should You Trade More Than One Currency Pair at a Time?

The Geared Investor — Tue, 09 Dec 2008 07:55:00 EST

If someone should concentrate on one currency pair in their forex trading is a fundamental question that needs to be addressed and matched to your trading style before you are going to be successful.

Turnover by Malcolm Morley

Malcolm Morley — Wed, 09 Jul 2008 07:42:00 EST

I've been flamed a few times on these forums for saying that we should endeavor to traded as efficiently as possible because the spread costs of our transactions can become a significant issue.

Trade Size by Malcolm Morley

Malcolm Morley — Wed, 09 Jul 2008 07:41:00 EST

This comment only scratches the surfaces of what is one of the most important topics of all, but it does establish the basic criteria in the right sequence.

Tick Filtering by Malcolm Morley

Malcolm Morley — Wed, 09 Jul 2008 07:40:00 EST

Every now and then one see posts over concerns about a market maker presenting prices differently that the way in which we perceive the 'real' market. Frequently this take the form of outrage against stop running, although this wasn't the case in the thread I've taken this extract. Anyway, my point below is that any filtering can basically favour us, providing we are flexible in out approach.

Synthetic Pairs by Malcolm Morley

Malcolm Morley — Wed, 09 Jul 2008 07:39:00 EST

Synthetic pairs are pairs that you calculate yourself from the underlying data of their components. For example NZD/JPY can be calculated from NZD/USD and USD/JPY. Normally you would be interested in calculating synthetic prices to arrive a price for a pair not offered by your market maker, but on occasions it can be useful to calculate the price of a pair yourself, where you also have underlying information. For example OANDA quotes EUR/AUD, but it is nearly always cheaper to trade the underlying (AUD/USD, EUR/USD - often by some 3-4 pips). You need to first do the calculations to see if it is worthwhile.

Stop Losses by Malcolm Morley

Malcolm Morley — Wed, 09 Jul 2008 07:38:00 EST

Michael; there's a lot of rubbish written about stop losses, and the relationship between t/p's and s/l's, so let me say that there are very few absolutes in trading; we all have to find out what works for us, and go from there.

Responsibility by Malcolm Morley

Malcolm Morley — Wed, 09 Jul 2008 07:36:00 EST

GrimFD is a trader over on the OANDA forums. He is also a deep sea diver by trade, diving off the rigs. This must be just about the most dangerous civil profession there is, which makes him especially qualified to talk on the subject of personal responsibility.

Psychology by Malcolm Morley

Malcolm Morley — Wed, 09 Jul 2008 07:35:00 EST

To do well at this business you need an extra-ordinary psychology, but I think it all boils down to one crucial element, and that is ... (insert drum roll) ...