For both individual trades, and trading in general, there is a strong inclination to over-estimate our own ability to make huge returns, as well as the market’s ability to produce those returns. New day traders especially like to wait for what looks like an ideal opportunity, and then expect big things from that trade. But […]
Moving averages are one of the most basic and least talked about technical indicators I know. It seems surprising, nearly every strategy article or analysis will include some mention of a moving average but few actually talk about them. Binary options traders should find them especially useful; moving averages can provide reliable directional entry signals […]
The best way to learn is through a mentor; someone who has been successful and is willing to personally teach you and keep you on track. Unfortunately, the people who want a mentor far outnumber the mentors out there accepting students. Finding someone to personally teach you trade is difficult. But if you already a […]
Trade long enough and you will start to notice some usually regular and potentially destructive habits in your trading. You may chase trades, entering at a later point than your strategy dictates because you fear missing a trade. You may have trouble holding through a few gyrations in the market because you are impatient in […]
Money management is the key to successfully operating a binary options trading account. You can never allow your self to risk so much on any one trade that it could wipe you out. Trading $100, $50 or even $25 at a time may not seem like much but if you opened your account with the […]
This may seem counter to what many resources for traders will tell you but you really do want to trade… a lot. I know that the voice of experience will tell the new trader that you don’t have to trade all the time, you don’t need to make lots of trades and you certainly don’t […]
The internet provides a massive resource for gathering information on brokers, markets, strategies and financial education. This is a positive thing, as it allows almost anyone with patience, discipline a strong work ethic to compile a trading system that works for them. With so much information though–and misinformation–it is important to remember that no one […]
While I do watch for price breakouts, I am always on the lookout for false breakouts…because I want to trade those more. Most traders view false breakouts as a bad thing, a market phenomenon that cuts into their profits or increases their losses. I propose you look at false breakouts as an opportunity. In my […]
Forex pairs are often the perfect assets for trading shorter time frames. This is because they tend to trade in ranges as the competing central banks jockey back and forth for dominance over the global economy. These ranges tend to last for extended periods and can be quite narrow, especially when compared to other assets […]
Most day traders know about limiting the risk of their trades, but capping daily losses is a practice traders could also benefit from. By capping risk on each trade and day, the trader is taking steps to make sure that no single trade or single day ruins their month, or worse yet, their account. To […]