You’ve probably heard the advice to not “chase the market” but also heard the advice to not “catch falling knives.” The former refers to getting into a trade after price has already started moving very fast, while the latter refers to trying to buy at what one may think is the bottom of the market. […]
Hi Guys, This is just a quick note on trading. I wrote this in answer to a question a newbie emailed me. Don’t put all your eggs in one basket. That and a million other clichés can be applied to your trading. While most of them are pretty useless this is one of the rare […]
Hey Guys, Miss me? Sorry for not posting an away message but I have just been busy lately. I could lie and say I had to attend to a very important matter but I won’t! The truth is that Edinburgh is having some rare sunshine 25°C (77°F) so I thought I would spend some time […]
Sorry, this webinar is over four years old and I no longer have the recording. You can check out my latest webinar recordings here though. Better late than never! I have found some time to encode, upload and release this mini webinar I held on the 15th of March. The webinar was not really planned […]
Scientific method – Scientific method refers to a body of techniques for investigating. To be termed scientific, a method of inquiry must be based on gathering observable, empirical and measurable evidence. In other words, you develop and theory and using the scientific method you rigorously test the theory in an attempt to prove it valid. […]
Have you ever posted a review for a fintechzoom best forex broker review, or post? There are heaps of Forex review sites out there that allow any user to post reviews. From the big boys like ForexPeaceArmy.com to the smaller guys like ReviewPips.com and ForexReviews.com. These review sites can be pretty useful when it comes […]
Ever since I opened Forex4Noobs.com people have been asking me how I know when to enter a line break. This is because I do not enter all scalp/constant line breaks. Sometimes I do not enter simply because the trade doesn’t look right! So naturally newbie traders are curious as to why I sometimes do not […]
CFTC = A US governmental body that seeks to regulate and monitor financial markets. However, like any government body the CFTC is inept. It is run by imbeciles who know little to nothing about what they’re trying to regulate. FXDC = The Forex Dealers Coalition is comprised of the big boy brokers in Forex: GFT, […]
Hey Guys, I am going to give stragglers a chance to enter so I will announce the 10 winners for a free copy at about 6pm-7pm US EST tonight. Since I will be selling this I want to make sure everybody is happy with it. So I am releasing a fully detailed list in which […]
I must admit, I became a successful trader without a trading plan. I also ran this site for 2 years without a plan. And in my life I plan next to nothing. I always thought that plans were useless and that I did not need them….. I was wrong! Your Forex journey will be much […]
This post was written in 2009, since then, I have delved a lot deeper into money and risk management. If you want to see my up-to-date trading, risk, and money management plans, Check out the free Forex course. Every self proclaimed guru out there tells you how a money management plan (mm plan) is essential. […]
Hey guys, Last week I wrote a post about a free webinar and e-Book release happening this week. In this post I will go over exactly how the free e-Book and webinar will be released. First off let’s talk about the webinar. I thought a little more about this and I realized it makes absolutely […]
As this year draws to an end, I have to say it’s been a tough one. Overall, I am still profitable by about 2800 pips. This is a huge contrast to my normal 5000+ pips. This year has been the hardest to get through, since my first, and I have learned some valuable lessons. Two […]
A Demo trading account has four uses: For brand new traders who need to learn the basic concepts of trading i.e. pips, long and short positions. Testing out a broker’s platform before going live. Primary testing for a new method. Trading in a trading competition. That is all demo accounts should be used for PERIOD! […]
I should have known my statement about forex broker in the last post would get me a ton of questions….. Ok ok, I really did it on purpose. Apparently the secret to a good blog is to always leave your readers wanting more. People are attracted to mystery so the less a blogger says the […]
In the chat room this week I had an interesting conversation with a trader about mental stop losses. I have spoken very little about stop losses in the past. I have said many times to use only mental stop losses but I haven’t spoken much about why. In this article, I am going to cover […]
Meet Harry Harry just released his trading system on a popular Forex forum. Harry’s system works very well for him. He wins 8 in 10 trades with it and has made a lot of pips. He decided to release the system so he could help newbie’s make pips. Meet the Newbies The newbies just found […]
Most new traders approach the market in the wrong way. In this article we will cover better trading techniques. They some how get the idea that being a trader is all about finding the right method. So they go on an expedition in search for that perfect combination of indicators, and it rarely ends well. […]
In this highly volatile market, markets move differently from normal. At this moment, markets are so volatile and at times unpredictable because of the current credit crisis. As a result, support and resistance lines are not always as successful as they normally are because of the impact of fundamentals. Also because we have not seen […]
Updated on June, 14th, 2015 Master candles do not work anymore Looks like you stumbled upon this article looking for information on master candles. I am sorry to say, master candles do not work anymore! This article was originally written in early 2008, master candle trading was awesome back then. These days, market conditions have […]
