Psychological Mistake #4: The Appeal Of Sophistication

Many aspiring traders are incessantly chasing after some secret formula or “Holy Grail” in Forex trading. The need for sophistication is rooted in our culture, simply because the world naturally gives more respect and value to advanced or supercharged things. In scientific endeavours,...

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The Average Trader Is Being "Set Up" By The Market

The legendary trade Jesse Livermore once remarked very aptly that "The market is designed to fool most people most of the time." He has also been quoted in saying that "Markets never change, because human nature never changes." Although many aspects of this man's life may not be worth learning from, his perceptivities into the financial markets are...

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The Get-Rich-Quick Hype In Forex Trading

In recent years, many retail investors have turned their attention to trading currencies in their pursuit of financial freedom. This phenomenon is partly due to the fluctuating economic climate, and partly due to scores of advertisements and hype about Forex trading being the best way to make money. It is crucial that aspiring traders break away from...

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Psychological Mistake #3: Following The Opinions Of The Majority

There is a lot of overwhelming evidence that suggests that humans have a tendency of becoming less rational when placed under the influence of collective psychology. This is why charismatic speakers like Hitler could induce the masses to subscribe to his beliefs. This is also why many investors and traders in the financial markets are naturally under...

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Psychological Mistake #2: Impact Of The "Law Of Small Numbers"

In the field of statistics, the law of large numbers tells us that the more times we do something, the more likely we will get results which are consistent with what the system will intrinsically give us. For instance, if you toss an "unbiased" coin, the probability of "heads" showing up is 50%, while the probability of "tails" showing up is also 50%....

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Psychological Mistake #1: The Need To Be Right

Ever since we started going to school, our educational systems have almost always measured our success based on how often we are right. In all the examinations, the number of right answers we give determines our grades. As such, we live in a culture that thrives on being right as often as possible. We have been taught to not make mistakes. Being right...

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Why Do You Want To Trade Forex?

The answer to the question above could be simple. "To make money, of course!", you will very likely say. Certainly, there is nothing wrong with that answer. However, one needs to be clearer about one's money goals and the motivation that drives these goals. Otherwise, your trading is very likely influenced by some negative beliefs and thinking habits...

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Unstoppable Forex Profit

Unstoppable Forex Profit is a Forex software signal indicator that works on the MetaTrader 4 trading platform, providing trading signals based on the concept of volatility breakout. When the market breaks out from some of the important levels calculated by the system, such as...

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