My Blog

Mindblown: a blog about philosophy.

  • Scale For Risk

    Since I am a risk manager first, my objective is to take all the risk out of any trade I am in.  Scaling out at an amount equal to the risk is an excellent way to be in a free trade scenario. In the charts we have been covering, let’s walk through how an intermediate…

  • Dial Down For Triggers

    The benefits for this are immense and the biggest for me is giving me a lower risk profile.  A lower risk profile, if using a percentage of your account for position sizing, allows for a great size. This chart has price pulling back into a zone that utilizes Fibonacci retracements and symmetry.  The upper line…

  • Choose the Right Trading Partner for You

    It’s critical to choose the right trading partner as you engage the forex market. Pricing, execution, and the quality of customer service can all make a difference in your trading experience. FOREX.com is a worldwide leader in currency trading and offers competitive pricing, great customer service and helpful guides and tutorials so you have a…

  • Don’t Be Afraid to Explore

    While consistency is important, don’t be afraid to re-evaluate your trading plan if things aren’t working like you thought. As your experience grows, your needs may change; your plan should always reflect your goals. If your goals or financial situation changes, so should your plan.

  • Keep It Slow and Steady

    One key to trading is consistency. All traders have lost money, but if you maintain a positive edge, you have a better chance of coming out on top. Educating yourself and creating a trading plan is good, but the real test is sticking to that plan through patience and discipline.

  • Check Your Emotions at the Door

    You have an open position and the market’s not going your way. Maybe you could make it up with a trade or two that don’t fit with your trading plan…just a couple couldn’t hurt, right? “Revenge trading” rarely ends well. Don’t let emotion get in the way of your plan for successful trading. When you…

  • Know Where to Stop Along the Way

    You don’t have time to sit and watch the markets every minute of every day. You can better manage your risk and protect potential profits through stop and limit orders, getting you out of the market at the price you set. Trailing stops are especially helpful; they trail your position at a specific distance as…

  • Know Your Limits

    This is simple yet critical to your future success: know your limits. This includes knowing how much you’re willing to risk on each trade, setting your leverage ratio in accordance with your needs, and never risking more than you can afford to lose.

  • Forecast the “Weather Conditions” of the Market

    Fundamental traders prefer to trade based on news and other financial and political data; technical traders prefer technical analysis tools such as Fibonacci retracements and other indictors to forecast market movements. Most traders use a combination of the two. No matter what your style, it is important you use the tools at your disposal to…

  • Practice

    Put your trading plan to the test in real market conditions with a risk-free FOREX.com practice account. You’ll get a chance to see what it’s like to trade currency pairs while taking your trading plan for a test drive without risking any of your own capital.

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