The predominant thinking with trading psychology is this: get rid of emotions and you’ll succeed. But, this is a primitive approach to a rather complex subject. The idea you can just lose your emotions and fears through suppression is like trying not to think about sex when an attractive opposite walks past. Unless you have…
Here’s a two-part series on why you should be looking at trading bitcoin CFDs. This post sets out some basics of bitcoin. Next post I’ll do a deep dive into why bitcoin has potentially a really bullish future. And why you need to be trading it. I don’t like to discuss specific market dynamics or…
An ever-raging debate with traders new and old is, is trading gambling or not? You probably stand firmly on one side of that debate, most likely in the no camp. But there are a surprising number of traders who believe trading is gambling. Here are two definitions of gambling. play games of chance for money;…
There’s something emotionally comforting about trading pullbacks. After all, it’s human nature to want to buy things up on the cheap. When I first began trading, it was easier for me to buy after declines rather than breakouts to new highs. My first attempts at pullbacks involved indicators. Generic things like placing market orders…
Here’s a quick post on how I use moving averages. In the past, I’ve referenced this method as ‘tagging the average’. Up until now though, I haven’t devoted a full post to it. I like to keep my charting naked. I don’t use price indicators, don’t use support resistance but I do use moving averages….
If you’re desperate to improve your trading because you lose constantly, change systems frequently, or are just too damn scared to pull the trigger, this article is here to help. At Tradeneophytes.com, my goal is to argue for the simplification of trading, and by doing so, a beginner can quicken the learning curve. In…
Regular readers and followers of my rants on Babypips know I don’t like price targets for exiting trades. I prefer the trailing stop method. As discussed here. If you haven’t read it, to sum up, the pitfall of target prices (IMO) are mostly psychological. Yes, there’s a mathematical argument for letting profits run. But that…
One question often asked by beginners is should they buy a forex trading course? Or instead, go with the free stuff available? I’m not much of a fan of (generic) trading courses, for the reason I’ll give below. However, I don’t believe the answer should always be quite so binary. As a newbie you’re at…
It’s not just gold that recently broke the $2000 handle. Take a look at Tesla. Elon Musk, that eccentric South African, now worth over $100 billion. The market cap of Tesla is $380 billion-plus. Think about it. Toyota, the largest car manufacturer in the world (and one that actually sells lots of cars) has a…
If you haven’t started thinking about money management in your trading, and instead are assuming ‘your entry system’ will carry you to success then think again. Money management is the cornerstone of trading, without it, your trading results are going to flounder. This article will introduce the ideas of % risk and R-multiples, two concepts…