Forex

Many years ago, horsemen invented blinders to keep their horses focused on their work.

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Run Your Own Race

Here is amazing fact. Peter Lynch the legendary head of the Magellan fund made 35% per year running money during his tenure, yet most of the retail clients of Fidelity lost money despite his amazing record. Why?

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The Secret To Beating The Market

In this second part of four episodes on movies about trading, Rob Booker invites film critic and producer of The Traders Podcast, Jason Pyles, back to talk about the 1983 comedy, “Trading Places,” starring Eddie Murphy and Dan Aykroyd. Rob and Jason also discuss how you know when the psychology of the market is going to turn around (or, aka “the G.I. Joe with the kung-fu grip”); whether knowing how to survive on the streets is similar to knowing how to survive in the market; how success in

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The Fastest Way to Get Your Money Back After a Huge Loss

Hello traders! As we often like to say in our Online Trading Academy Classes or even in these Lessons from the Pros newsletters, trading is very simple but not easy. You can make it as complicated as you want it to be – adding multiple levels of indicators and oscillators, Fibonacci levels and moving averages, Elliott Wave counts, or whatever makes you happy. Adding too many of these extras doesn’t always simplify trading nor make trading increasingly profitable.

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What Are You Waiting For?

Once in a while, I will get an email from someone saying, “I like your supply and demand strategy but what strategy should I use in trending markets?” This person thinks the strategy is only for markets going sideways where they use supply and demand to pick tops and bottoms. What this person doesn’t realize is that we use supply and demand as the core strategy for any market, time frame, and market condition.

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Trading With the Trend

How often have you seen something that upon closer examination turned out to be something very different? Or, have you ever looked at the price action and acted upon what seemed to be a perfect price pattern; then wrote your plan, executed the plan, and summarily were stopped out; only to go back to what you thought was the price pattern that now looked entirely different?! It was like a dream.

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How You See Affects How You Trade

The next four episodes are dedicated to those who are under the weather or have some extra time on their hands. Rob Booker teams up with the mysterious producer of The Traders Podcast, Jason Pyles, to review four movies for traders while discussing how they reflect upon the world of trading, how accurate they are, and why they’re important for every trader to watch. For Episode 41, Rob and Jason delve into a documentary called “Enron: The Smartest Guys in the Room” (2005)

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The Smartest Guys on the Podcast – The Only Guys on the Podcast

A greedy person and a pauper are practically one and the same. The Swiss proverb above couldn’t be more true for us traders. As you may know, many traders (and their accounts) have suffered because of greed

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Greed: The Most Dangerous Emotion

This week an article in the Wall Street Journal went viral in the FX world as it hit a raw nerve with traders everywhere. “The market isn’t wrong, it is just stupid!,” it announced, noting that,”More and more, those who are paid to play–seasoned veteran institutional foreign-exchange traders–are becoming disenchanted with a market that appears to them to be broken. The new age of currency wars with many governments attempting to keep their domestic currencies weak in an attempt to export their

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Stupid Is as Stupid Does

Rob Booker is joined again by his guest co-host, “The Coach” Scott Welsh, podcasting from Columbus, Ohio. Scott and Rob begin this episode by talking about the importance of knowing what you want when striving to achieve a goal.

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Where and Why We Trade for a Living