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"In the world of trading, Holy Grail is a term that is often used. A holy grail is a trading system or a technical indicator that can generate profits. But in reality there is no such trading system that can be profitable 100% of the time. Traders tend to often wonder or continue to seek the best technical indicator in trading. The truth is that such an indicator or a trading system seldom exists. To be profitable with forex, traders should firstly understand that losses are something that cannot be avoided. This is true for even the best and the most experienced traders of all times. Instead of seeking for the best technical indicator, traders should firstly understand how the different technical indicators work and what information they convey. In this article, we look in depth into how technical indicators work and why there is no such thing as a best technical indicator."
Guest profile:Andrew Menaker, he is an experienced trader, a PhD in psychology, and a practicing clinical psychologist. At the same time, he is also a global thought leader in the field of trading and market psychology. He has profound knowledge in the financial field and he speaks effectively about behavior.
The key to trading success is developing yourself into a profitable trader by learning to trade properly and being consistently disciplined to follow an effective trading routine until it becomes a habit.
Traders are always seeking trends, but monitoring them is not always an easy feat. To help simplify this task, many traders choose to employ trendlines, channel lines and moving averages to gauge the ripples and to help separate the false breakouts from the real ones. Four decades ago, Dr. Alan Andrews developed a method to identify and border the deviation from the main path of the market in an effort to better deal with the spillage of markets from the “core” of the trend. The result, named Andrews’ Pitchfork, is a channel that offers support and resistance around a median line.
If you are ready to take your career to the next level, you need a proven trading strategy that will guide your decisions as you navigate the stock market — a strategy that is based on the principles that have led the world’s top traders to long-term financial success.
One interesting emerging topic in trading is that of random reinforcement. Random reinforcement, as it relates to trading practices, occurs when a trader misattributes a random outcome to their own skill or lack of skill. This can be detrimental as a trader may come to believe their own prowess when it does not, in fact, exist—or greatly discount it when it does.
Trading is a journey that has a clear beginning and no end. When you decide to begin trading, the journey begins, but it never ends until the day you stop. Each year you will learn more and become more proficient and effective in your trader skill-set.
Hello Forex traders,When trading, did you ever analyze your own strengths and weaknesses in forex?
1.The fallacy of finding the perfect trading methodology A lot of people in the trading space will tell you that the reason you’re not successful is because you’re not following their exact methodology, or using their software, or trading through their specific brokers. A common idea is that the major mistakes most retail traders make is that they don’t trade the right strategy or follow the right methodology. It’s as if there’s a secret magic formula that exists that is THE way to trade profitably, and your problem is, you haven’t discovered it yet.
For most traders, there’s nothing more frustrating than experiencing a trading loss. As a result of this, some traders will procrastinate booking a loss until the pain of the loss become so great that they have no choice but to do so. We will go over some of the reasons why cutting your losses in the market is so difficult to do, and provide some tips to help you manage your losses better.
ISSUE 19, 2021
ISSUE 19, 2021
ISSUE 18, 2021
ISSUE 18, 2021
ISSUE 17, 2021
ISSUE 17, 2021
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