I recently finished reading the book Rogue Trader by Nick Leeson. Although I’ve seen the movie countless times in the last 6 years, I don’t know why I haven’t stumbled upon the book till now. Anyway, it was a great read and I highly recommend it. Not only because it’s well written, entertaining and has… Read More »
Mark Cook is a trader featured in Jack Schwager’s Stock Market Wizards book. Here‘s an interview he gave in May 2011 in Singapore. Some of the most important points he makes: there is always an opportunity to make money in the markets. You just have to find it. you have to know yourself and develop… Read More »
A very common mistake of inexperienced people comparing trading systems is to put the greatest importance on winning rate. Let’s take 2 traders with 3 years of track-record each. Both have an average annual return of 40%. Trader A has a 75% winning rate, and trader B a 35% one. That’s all we know about… Read More »
If you haven’t seen this 1987 documentary starring Paul Tudor Jones, I strongly recommend that you watch it. At that time he was right in the middle of that spectacular 5 years run that would be documented in Jack Schwager’s Market Wizards. It has always amazed me how aspiring traders pay a lot of money… Read More »
There is a popular myth among those who are just starting trading that successful traders have many strategies that allow them to be very profitable all the time. That they can make a lot of money month in and month out by applying one strategy if the market is trending, another one if the market… Read More »
Having a trading strategy with an edge is often mentioned in trading literature as a prerequisite to success. Despite this fact, I think it’s still a misunderstood concept. Why am I saying this? Well, ask yourself, or other traders you know, what exactly is your edge in trading? In other words, what makes you think… Read More »
Update May 2016: Fxkeys.com have re-branded themselves into LuckScout.com. Different name, same junk. I’ll go through another article which I find is extremely dangerous for beginners. Not only because it gives them false hopes and a false image of what trading really is, but also because it sets the stage for a lot of unnecessary… Read More »
Update May 2016: Fxkeys.com have re-branded themselves into LuckScout.com. Different name, same junk. This is a great example of why having my own site to freely express views and thoughts is important to me. I was made aware of fxkeys.com, a website run by one Chris Pottorff with supposedly 23 years of trading experience. Judging… Read More »
Why Is It Best Not To Have Open Positions Over Weekend Never trade in situations where you don’t have control. – Paul Tudor Jones This week opened with a big gap for GBP pairs (153 pips on GBP/Usd, 190 pips on GBP/Jpy, 72 pips on Eur/GBP). The reason behind this big move is considered to… Read More »
Forex Training Scams Debunked 3 I have received some emails from ForexFactory members regarding the ‘commercial content’ section of that forum. Wow, if that isn’t choke-full of scammers, then nothing is. Naturally, I had to pick today’s charlatans from there. These guys start by shouting in your face with large, colored fonts. Of… Read More »