Forex or The foreign exchange market is very very large financial market in the world, with a daily turnover of over $5 trillion. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. Forex trading refer to the art of buying or selling currency for profit.

Author Topic: Self coaching for Forex trader Part 1  (Read 8784 times)


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on: August 14, 2018, 11:50:08 AM
Self coaching for Forex trader Part 1

In this series of two forex education webinar video, we will talk about evolution of a trader. How to build your learning plan? Is it better to have performance goals or process goals? What tools can be used for tracking your success? What are common fallacies of self-coaching and how to turn to more realistic understanding? How to shorten your learning curve in trading?

Many traders try to take somebody’s trading system/method and generate profit with that. However, trading requires something more than this. It is both combination of knowledge and skills. Many have knowledge, but lack skills and vice versa.

For watching this video you should have at least one trading account. If you are not. Get a trading account for free here!


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Reply #1 on: August 21, 2018, 03:52:53 PM
Thank you. sir


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Reply #2 on: April 24, 2019, 05:08:23 PM
I like this forex tutorial.


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Reply #3 on: July 16, 2019, 04:55:09 AM
Im certain youve read this in every one trading photo album youve ever picked taking place. My definition of discipline is to determine your exit strategy forward you enter the trade. As soon as you put a viewpoint in this area you should moreover enter your decrease loss and decline profit orders. If you do that you will not be tempted to second guess yourself. Ive seen too many traders enter a position, watch it impinge on in their favor to their profit object but never close the trade. The undisciplined will reveal this can go association; I dont sore to bow to my profit now. Once the trade does reverse they will be reluctant to close the trade until it goes urge approximately to the highs, thats past profits tilt into losses. Ive moreover seen trades excite to the subside loss reduction and the trader will declare Im going to meet the expense of this another 20 pips in the past I muggy it later they pronounce it taking into account more and considering more and again. The primeval axiom regarding the trading desk was your first loss is your best loss. Yes, sometimes waiting is the prudent decision but if youve ended your homework and within gain an exit strategy for both profits and losses you will be much augmented off in the long control.


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Reply #4 on: August 01, 2019, 12:31:03 PM
The foreign quarrel expose works through financial institutions and operates upon several levels. Behind the scenes, banks perspective to a smaller number of financial firms known as "dealers", who are in force in abundance of foreign argument trading. Most foreign dispute dealers are banks, therefore this at the rear-the-scenes puff is sometimes called the "interbank market" (although a few insurance companies and auxiliary kinds of financial firms are involved). Trades along surrounded by foreign argument dealers can be enormously large, involving hundreds of millions of dollars. Because of the sovereignty event following involving two currencies, Forex has tiny (if any) supervisory entity adaptable its proceedings.


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Reply #5 on: November 28, 2019, 03:27:34 AM
Thanks. I think this is great.


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Reply #6 on: December 11, 2019, 04:48:37 PM
That is very nice. Exness really made nice video.


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Reply #7 on: April 23, 2020, 01:01:32 AM
This is great.


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Reply #8 on: April 26, 2020, 12:44:53 PM
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Reply #9 on: April 27, 2020, 01:39:02 PM
What is Cosmos?
Космос является экосистемой blockchains которые могут масштабироваться и взаимодействовать друг с другом.
До Космоса блокчейны были заперты и неспособны общаться друг с другом. Их было трудно построить,
и они могли обрабатывать только небольшое количествооперациив секунду.
Космос решает эти проблемы с новым техническим видением.
Чтобы понять это видение, нам нужно вернуться к основам технологии блокчейна.


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Reply #10 on: April 27, 2020, 03:50:41 PM
How to Trade Forex. Trading foreign exchange on the currency market, also called trading forex, can be a thrilling hobby and a great source of income.

The US dollar has strengthened against major currencies. In trading at the New York Stock Exchange last night (20 April) as investors bought the dollar as the safest and most liquid currency. After the price of oil fell sharply Including anxiety about the effects of the Covid-19 virus That is spread around the world

The dollar strengthened against the yen at 107.64 yen from the 107.59 yen level and appreciated against the Swiss franc at 0.9678 francs from the level of 0.9676 francs. In addition, the US dollar also appreciated against Canadian Dollars at the level of 1.4133 Canadian Dollars from the level of 1.4022 Canadian Dollars

The euro depreciated against the US dollar at $ 1.0861 from $ 1.0867, while the pound fell to $ 1.2445 from $ 1.2482, while the Australian dollar fell to $ 0.6348 from $ 0.6353.

Investors buy dollars as a safe currency After the price of WTI crude oil fell to the negative level for the first time since oil futures trading in the NYMEX, as investors are still worried that The government around the world uses lockdown measures. Will result in the demand for oil to subside.

Investors are keeping a close eye on the situation of the covid-19 epidemic, as the latest worldometer, a website compiled by public health agencies around the world, shows that the number of people infected with the covid-virus 19 Around the world is now 2,419,206 people and the death toll is 165,775 people.

For US economic data disclosed last night. The Federal Reserve (Chicago) Fed said the Chicago Fed National Activity Index (CFNAI) dropped to -4.19 in March after touching +0.06 in February.

The CFNAI is a weighted index of 85 economic activity indicators in the United States. Positive CFNAI indicates higher economic growth than the trend, while the negative CFNAI indicates Indicates the growth of the economy that is below the trend

Other US economic data scheduled for this week include second-hand home sales in May, home price index for February, the number of weekly jobless claims, the purchasing manager index ( PMI) April gross production from Maritimes, Purchasing Managers' Index (PMI) April gross service sector from Margit, new home sales in March , Durable goods orders in the month have. C. And consumer confidence in March from the University of Michigan.

The foreign exchange market is unique because of the following characteristics:

    its huge trading volume, representing the largest asset class in the world leading to high liquidity;
    its geographical dispersion;
    its continuous operation: 24 hours a day except for weekends, i.e., trading from 22:00 GMT on Sunday (Sydney) until 22:00 GMT Friday (New York);
    the variety of factors that affect exchange rates;
    the low margins of relative profit compared with other markets of fixed income; and
    the use of leverage to enhance profit and loss margins and with respect to account size.


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Reply #11 on: April 29, 2020, 08:49:05 AM
Intraday trading guide

In some ways, intraday trading is an extremely free profession. To a large extent, you can choose to work anywhere at any time. Thanks to the advancement of mobile technology and the increasing popularity of mobile transactions, you can decide the arrangement of each day exactly according to your preferences. You can freely choose to work in the office or home, or even choose to work on a trip.

Personal intra-day trading allows you to be your own boss and have full control over your time and money. So at the same time, what are the shortcomings of this work? For many people, having complete control can also be a terrible thing, especially for those who are not good at scheduling and managing time.
How is intraday trading different from long-term trading?

In fact, the only difference between intra-day transactions and other types of transactions is the time plan. Intra-day traders usually hold positions for a day, often closing positions before the market closes, rather than holding positions for weeks or years. Compared with other types of trading, high-frequency intraday trading requires more concentrated attention, because the time period is shorter, and the market may change quickly in the short term.
Things to keep in mind during day trading
Understand your mindset

When trading, pay attention to all the ideas in your own brain. If your ideas start to be "outrageous", then you must take a break. Intraday trading is a difficult job and it requires constant attention. When trading, you need to be self-motivated and stay focused.
Follow your own principles

Self-discipline is one of the biggest characteristics shared by successful traders. You need to be alert to your bad habits. The first thing is to understand your bad habits and resolve them as soon as possible. One way to understand whether you are trading in a self-disciplined way is to develop a trading strategy and then check to see if you are following these principles. Your rules should be well thought out and contribute to your successful transaction.

As an intraday trader, transactions are completed within a short period of time, so it is a good way to reassess your principles at the end of each month. You may sometimes violate your own principles-know that this is inevitable, but you can not develop this bad habit. Try to stop violating the principles you set and correct them in time.
Manage your funds

If you want to become a successful intraday trader, money management is essential. In fact, no matter which transaction method is used, fund management is a necessary factor for a successful transaction. If you plan for a long-term transaction, then obviously you need to successfully use a money management strategy. There are many books devoted to fund management, which will introduce many methods. You need to spend some time to find a method that is suitable for you.

Some traders want to enter into transactions that are expected to double their returns. This is called the risk / reward ratio. If the risk / reward ratio can be maintained at least between 1-2, then the possibility of continued profitability will be greater. Remember, even if you make a profit 90% of the time, if your losses far outweigh the gains, this will not help. Your gain is more than your loss, this is the most important.
Always carry out risk management

When you place an order, do n’t forget to use stop loss to manage risk. This will be your insurance. Before entering a trade, you need to think about how to set a stop loss order. This is a good habit to ensure that you keep thinking about the protection of assets when the market is falling.
Intraday trading mentality

Once you have formed a comprehensive strategy, you must implement it quickly and decisively. When your expected price level has been reached and the prerequisites for trading have been met, then you should quickly execute your strategy, otherwise you may miss trading opportunities, and previous plans and research will be ruined.

You should always stay calm. This is especially important when you suffer losses. Keep calm and react according to your own principles. Think about the worst in your brain, so that even if the worst happens, at least you are well prepared to keep your mind clear.

Don't let the views of other traders influence your trading. Sometimes, other traders will want to share their views on the market with you and provide you with recommendations, but they do not take into account your trading methods. Remember, no one knows your own trading system and style better than you. You know your trading time period and your stop loss settings, so you must stick to your principles. Other traders will inevitably be biased. If you want to get advice, then you should consult a professional who can give advice based on your situation without departing too far from your trading method.

Stay independent. If you find that you are looking for a mobile phone, or if you want to send emails to others for support, then do n’t place an order. You must trust your instincts. Once you have carried out your own analysis and estimation, and come to your own conclusion, then do not question yourself. The key points you set for entering and exiting the market are supported by reasons, so believe these figures, do n’t question yourself, and do n’t rely on others to affirm your views.

When trading, patience is very important. If there is no suitable trading opportunity, do not force yourself to trade. As you gradually deepen your understanding of the market, you may be able to more easily understand when to trade. As your trading experience grows, your intuition will become more sensitive.

Pay attention to the pressure you are under. Intraday trading may bring a lot of pressure because it requires constant attention and self-motivation. You can take time out to rest for a while, a ray of thought, which is also a kind of mental relief. Think about where the transaction is in your life. Too much pressure will adversely affect your trading decision, so if you feel that pressure is increasing, then you better suspend trading and take a good rest. After the break, when your stress level returns to normal, enter the trade again.

When you are trading, you need to flexibly configure your position. Market conditions may change quickly, so your approach must also be flexible. If you want to stay one step ahead of the market, you need to be ready to respond to changes in the market.

Stick to your chosen market and specific time period. In a rapidly changing market environment, these two factors are under your control.

Decisively profit and close the position. If the market trend remains the same after you profit and close the position, please do not regret your decision. Let other traders compete for the final profit. You have already made a profit. Compared with the loss, this is not how much stronger, and you can start looking for the next opportunity. If you are concerned that you will continue to exit prematurely and miss profit opportunities, then you can design a strategy to re-enter the market and test it. As a short-term trader, if you can make a profit more than a loss, then you do n’t have to worry too much about the occasional early profit and liquidation.
Maintain detailed transaction records

When you start a transaction, you should write down the reason for entering the transaction. This way you can learn lessons and help you when you want to evaluate past transactions in the future. By keeping detailed records and writing down the reasons for entering a transaction, you can learn and improve more quickly. Although this will take some extra time, this training will help you improve your trading level.

You also need to know whether you are ahead or behind your goal in a day, week, or month. Keep these records in a place that you can refer to at any time and be responsible for them. We all know that rethinking the previous transaction will allow you to learn a lot. After you have one month of intra-day trading experience, take a moment to evaluate your performance. Take a look at your own transaction, and then ask yourself this question: If I can re-trade, what different trading methods will I take? In the long run, this will help you to continuously improve your level and become a more successful trader.


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Reply #12 on: May 03, 2020, 02:53:09 AM
Enter online forex trading. How to start forex trading.

It is because of the emergence of the Internet that you can trade on the foreign exchange market in the same way as traders from the largest banks and investment funds.

You only need a computer connected to the Internet and a trading account opened at a foreign exchange broker to get involved in trading.

The best broker for forex trading around the world is Exness. Which is a powerful broker that many profitable forex trader use.


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Reply #13 on: May 07, 2020, 05:39:42 AM
In the past, I participated in some Investment Programs but without benefiting anything from it. I decided afterward to invest directly via Brokers. I was convinced that it would be more easy to use a Profitable Robot. I tried to look for a perfect Robot. But, no EA interested me! While pursuing my searches I found on the Net an advice: if you want a good Robot, you have to conceive it and develop it yourself! As being a Developper IT, I decided to produce my own EA. I think I am very rich from forex trading.


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Reply #14 on: June 11, 2020, 11:36:24 AM
I like to trade forex and this topic have interesting thing on Self coaching for Forex trader.


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