For the forex traders out there – how do you cope with a missed trade? Earlier this evening my system fired off a signal which I was not able to act on because I had emotional doubts about it (it just didn't "feel" right). The price shot a hundred pips in the direction which the signal said it would.
I'm kicking myself in the b***s right now.
How do you cope with this? As a trader, what are some of the things you do when a painful thing like this happens? I know a lost opportunity is a lesser evil compared to lost capital, but it still hurts like hell.
For the seasoned traders out there, any tips or advice? Lost opportunities like this happen all the time, right?
Thanks.
The best way to cope with a missed trade is to simply catch the next one.
Keep in mind that there will always be plenty of money in the market waiting for you. There is no urgency to catch every trade.
Learn from the past and apply to the future.
Cheers,
Paul
If market will go against me, when I will receive margin call in forex?!
For example, I play with $3000.00, and I use leverage 100:1.
When I will get margin call? -1.) When I will lose FIRST 3000$ in pips or 2.) when all, what will left in my position in pips -3000$ ?!
The former.
Can someone with experience in this area please answer?
How does ‘currency trading’ work? What kind of brokerage account is needed? Do the standard brokerages houses do this? I have an account at Schwab.
What is “Forex”? How do I buy currency contracts?
Thanks for the help!
Great question Antonio.
The Forex (Foreign Exchange) market is the largest financial market in the world and is open 24 hours a day. In fact, the Forex market is larger than all other equity markets combined. Unlike stocks, there is no central exchange where Forex transactions take place. So retail Forex traders trade the Forex market through Forex brokers who provide pricing and facilitate the currency trades.
Forex is traded through the internet so you can trade it from anywhere you have internet access. You can leverage your Forex account many times its actual value (up to 400:1 but 100:1 is most common) which provides for great profit potential as well as great risk. Forex transactions are traded in pairs so for instance when you buy the EUR/USD you are buying Euros while simultaneously selling Dollars. Because you both buy and sell with each transaction you can make money no matter what direction the market moves.
It is also fairly easy (maybe too easy since many lose their money) to start. Most brokers only require a couple hundred dollar minimum. Also, almost all brokers offer free practice accounts with no time limit so you can practice until you are ready to go live. The one key to not losing your money is this: Don't start trading until you know what moves the market and how to trade it. If you start with live money too fast you WILL lose it.
Those are some basics to help get you started. Good Luck!
I trade with FXOS (www.forexonlinesignals.com) Good signals, but they arrive at 2am of my time … do you know any similar? Same results but different time frame?
most alerts/alarms (85%) will come in during the overnight session, this cannot be avoided. the forex never sleeps.
good trading
mark mc donnell
www.forexearlywarning.com
In January, my family and I are getting a foreign exchange student from France.
I don't want him/her to be bored the whole time they're here, so what are some things to keep them entertained like after school or when we don't have anything planned to do?
Try giving them an American tour. If it's a girl take her shopping to american clothes. If it's a guy take him to restaurants or take him to a football game or any other sport non usual to french people. Make him feel as if America is his/her home