DIFFERENT TYPES OF TRADERS
You can group new Forex traders into 3 groups, i.e. The Rainbow Chasers, The Seekers and the Professionals. Read this article and find out into which group you fall.
Fibonacci - DiNapoli Levels
A short article to show some guidelines how to determine Fibonacci retracement and expansion levels in Joe DiNapoli style.
Dangerous Trading or Opportunity?
The very prevalent use by traders of using very high or no stop losses in order to generate a very high percentage of winners to impress possible customersWhen you become involved in Forex trading and start to learn the secrets of how to become a successful and profitable trader there are a couple of rules that are being taught as if it is gospel – and if not followed could spell disaster. One of the most important rules that are taught by everyone in Forex training or mentorship is the following:
DO NOT TRADE WITHOUT A STOP LOSS!
This rule is self explanatory and makes a lot of common sense. It is part of good risk management.
This brings me to another practice that is very common among traders, Signal Providers or developers of automated systems, and that is to bypass the Stop Loss rule by entering a very large Stop Loss. The ratio between Stop Loss and Take Profit can be as large as 100:1 or more.
If one investigates this matter further you arrive at a very surprising finding. The most successful traders with the most followers and the most equity that they manage and who are occupying the number one and two spots at most Signal Providers do NOT use any Stop Losses or use VERY large Stop Losses.