For me, the FX markets lend themselves perfectly to traders of all experience levels, mainly due to the flexibility you can enjoy in position sizing, the multiple opportunities available across these 24-hour markets and, of course, the ease of which we have to open an account and get involved with a smaller...
The trend is our friend. But... what is the trend? How to track the trend? There will be dozens of methods. Today I'll make a brief introduction of my Algo Trader System, which could well define and track the trend on 60 min and 240 min chart. It was created and backtested in Esignal.
Trading is a profession that many enter with big dreams, we all have been guilty one way or the other of the illusion of making a living out of trading. Many aspects are part of a trader been able to success like self-control, greed, fear among them. We believe that one of the most important aspects for a trader to know and control is Identity.
Do our mistakes make us smarter? Common sense suggests that we can turn our mistakes into positive learning experiences and improve our performance at a given task. However, it seems that people often do not learn from their mistakes and instead keep repeating them. Example: you have a losing day trade and decide to widen your stop loss.