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Introducing the Forex Trading Psychologist
As a Forex trading coach with Currensys, I frequently receive emails from traders looking not only for trading signals and Forex strategies, but for emotional support during a rough trading patch. I consider it both my job and my privilege to help traders get through these rough spots without losing too much money – and without losing their desire to trade Forex.
Trading Without a Net
We'd had a rough week here in deepest darkest Africa. Without warning, but with alarming unfortunate regularity, we've had what we call "?lights off" incidences. Boom! And the power is off. And not just me but the entire neighborhood, sometimes even the entire city, for hours and hours at a go. It makes living here (and trying to work here) a challenge, to say the least.
Waiting is the Hardest Part
I like instant gratification. Scratch that, I love instant gratification. I like fast food, instant coffee, scratch-off lottery tickets, and instant messages. I don't want to wait for my food to be cooked or my coffee to perk or for numbers to be announced or for mail to arrive. If that means I'm immature, so be it. Patience is highly overrated anyway, I think. It's a virtue? Who cares? I've got plenty of other redeeming qualities. What? Let me ask around and I'll get back to you.
Is it a Good Idea to Switch Forex Brokers?
Switching Forex brokers is something that all traders do sooner or later. The reasons can be numerous, and varied to say the least. Perhaps you have gotten a bad deal at your present broker. It is also just as likely you are looking to trade a Forex brokers.
A Lesson in Limits and Stop Orders
This has been a slow trading week for me, seeing as how an internet connection is a huge necessity to forex trading. Our internet service provider went AWOL for a few days, leaving me with lots of opportunities to profit from a depreciating U.S. dollar, but alas, no way to actually do it. Oh well, that's life here in Africa.
Interview with John Correnti of Currensys
John Correnti is a full-time trader and part-owner of Currensys (www.currensys.com). Currensys provides traders with an objective trading system and a daily live trading room. DailyForex.com recently caught up with John and we discussed his journey into trading, Currensys and how he views the markets.
I'm a (Forex) Loser
I'd had enough. I'd "?played" for a few days, doing lots and lots of simple trades in the demo mode. This is kids stuff, I think. I can solidify my Forex trading strategy as I go along; I'll just keep using my "?toe in the water" approach and it will be fine. Gulp.
A Case Against Automated Forex Traders
One of the unique parts of the Forex trading world is the fact that it's most common trading platform was built with the EA, or expert advisor in mind. With a basic programming language built in, it is possible to build auto trading programs which allow the trader to go on about their lives while the platform executes trades for them.