Traders Corner - Trader Tips RSS Feed

When Your Wrong, Your Wrong And When Your Right, Your Right!

Forex Hound Team — Wed, 26 Sep 2007 08:13:00 EST

Learn to be disciplined when trading, but take action when appropriate. If a trade that you have placed is clearly going against you, uncross your fingers, and get out of the position rather than praying that it comes back in your favor

Global Economic Calendars And The Pennies In Your Account

Forex Hound Team — Wed, 26 Sep 2007 08:11:00 EST

Many governmental and economic bodies around the world publish various economic indicators. Be aware of these; such indicators are closely monitored almost all professional traders worldwide.

The �Rules Of The Game,� Or, Terms Of Business

Forex Hound Team — Wed, 26 Sep 2007 08:10:00 EST

Also worth mentioning is the fact that different brokers have different trading rules, or �Terms of Business.� Take time to read these, and truly understand them, before making any decisions on using one broker over another.

Leverage: The Double Edged Sword

Forex Hound Team — Wed, 26 Sep 2007 08:09:00 EST

Fully understand that leverage�that is, trading on margin�will work for you when you are making a profit, but will also work against you when you predict a market move incorrectly.

Hidden Costs Of Trading Forex

Forex Hound Team — Wed, 26 Sep 2007 08:08:00 EST

While it appears that the trading Forex Exchange is free of commission charges and exchange fees, the bid offer spread actually represents the cost of trading.

We Are One

Forex Hound Team — Wed, 26 Sep 2007 08:07:00 EST

Trading the currency markets requires the trader to step out of his comfort zone and take a trip around the world. Ok, not a physical journey, perhaps, but rather a trip of learning and trip.

Trading Is A Profession

Forex Hound Team — Wed, 26 Sep 2007 08:05:00 EST

The profession of trading must be viewed and respected in the same manner in which all other skilled professions are. To succeed in trading profitably and consistently, you must invest time, effort, and money towards educating yourself. As any successful trader will tell you, you never really learn until you trade with your own hard-earned cash on the line.

Currency Pairs, Not Currencies

Forex Hound Team — Wed, 12 Sep 2007 07:57:00 EST

Remember the Forex market consists of currency pairs, with one currency being quoted relative to another. The value of a currency is therefore determined by its relationship to the currency against which it is being quoted. Simply understanding and being aware of one currency is of little use when trying to trade a pair. You need to remember that a currency pair consists of two currencies and two economies.

Take Losses As Well As Profits

Sam Shenker — Tue, 11 Sep 2007 08:11:00 EST

It�s hard to take a loss, but as a trader that what you do, you take losses along with profits, its how you handle them, that is the ultimate resolve.