What are currency pair correlations? It is simply a measure of how similarly one currency pair moves in comparison to another. Just as an example, let’s say that the EURUSD goes up 500 pips in a month. During that same month, let’s say that the GBPUSD goes up 1,000 pips. We are not too concerned […]
Today I am reviewing Kathy Lien’s book Day Trading & Swing Trading in the Currency Market. I originally thumbed through the first edition in Borders and though it had some good ideas, but it didn’t appeal to me enough to buy it at the time. I kept an eye on it and ended up getting […]
I am always looking at other blogs and trading forums, trying to find good ideas for this blog. Information that you could use to become a better trader: news, biographies, answers to problems or stuff you would just find entertaining. In my web surfing, I came across the term “The Trading Lifestyle” while reading through […]
One of the fun things about being a trader is being able to have multiple monitors. At some point it becomes ridiculous, but in my opinion, a minimum of 2 or 3 monitors can really boost your productivity. Longer term traders may not need it, but it is very helpful for shorter term traders because […]
You never know how much you need the data on your computer until your hard drive crashes. Working in IT, I have seen it so many times. Can you afford to lose the information on your computer? I’m not only talking about trading documents, think about the pictures, music and other personal files that you […]
If you have blown out your trading account, you have two options. You can sit down in the corner to cry and never trade again. Or you can get back up on the horse and figure out a way to build a new trading account. This post will give you some ideas on how to do it.
I just got through reading, err, listening to Dr. Wayne Dyer’s book Excuses Begone! Even though this isn’t a trading book per se, I believe that it is important to explore different points of view when it comes to examining my own psychology. I usually get the audio version of a book whenever possible because […]
The CFTC is proposing a new set of regulations that will affect you as a Forex trader. Find out what they are and how you can oppose them, if you don’t agree with them. They will primarily affect your choices when it comes to trading. Read this post to find out what the restrictions are.
Do you have a pile of trading books that you will never read again just taking up space in your home? This post will show you how to get rid of them in the best possible way.
I have been using OS X, the Mac operating system, for the past few days and I love it! I will NEVER go back to Windows as my primary operating system. I learned how to use a computer on the original Apple IIe, but since then I have been adamantly against using Macs for a […]
Since the NFA changed it’s rules on FIFO and hedging Forex, we are not able to take opposite trades in the same currency pair, in the same account. I did get a couple comments on this blog about how it’s unfair and how the ‘man’ is trying to screw them, boohoo, blah, blah, blah. This […]
I heard about this guy. His name is Kurt Hanks. He makes pips on a regular basis. Massive, crazy phat pips. Here is a brief bio quote from the Rob Booker website: A note about Kurt Hanks: He averaged 2,000 pips per week in 2009 and made 11,000+ in one week last year (these are […]
This post will get into the NFA’s new rule to enforce FIFO and ban hedging in US brokerage accounts. Learn more about this new rule…and how you can get around it 🙂
This is one of my favorite trading books of all time…and it doesn’t have a single trading system. Find out why I like this book so much here.
So at the end of the day you may have spent that $100 bill a thousand times in your imagination. That is the equivalent of spending $100,000 in a day!
Today I am reviewing the book Adventures of a Currency Trader by Rob Booker. This book is probably unlike any other trading book that you have ever read before. I know that was the case for me. The subtitle of this book is A Fable about Trading, Courage and Doing the Right Thing and if […]
When I first started in Forex, I was looking around for affordable, easy to use forex backtesting software. This is the one I found and I still continue to use it. Read this article to find out why.
When used properly, the COT report can give you valuable insights into what is going on in the markets. Although it is measured in the futures market, it can still help Forex traders. Learn where to get it, how to read it and what…
This is my first post and I just want to introduce myself and what I want to accomplish with this blog. I will also outline how I will be logging my trades and how my trades might be able to help you in your trading.