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Trading Guides

7 Biases Holding Back Your Trading

7 Biases Holding Back Your Trading

After seeing the effects of these biases on my trading and the trading of my colleagues, I noticed that seven key biases have a disproportionate influence on an individual’s trading. As you read on, try to ask yourself how these biases may have impacted your trading. Then, think about the ways you can prevent them from affecting your future trading.

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Avoid These 5 Common Trading Mistakes

Avoid These 5 Common Trading Mistakes

Forex trading is not rocket science. A simple set of guidelines can empower aspiring traders to overcome the learning curve and become consistent in a relatively short time. These same guidelines have worked for generations. Back in the early 1900s, Jesse Livermore used the same guidelines to make his fortune. However, many would-be successes have failed for easily understandable reasons.

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The First Rule of Trading Forex

The First Rule of Trading Forex

Have you ever found that your trading system works great one day but fails miserably the next? If so, your problem is likely market-type identification. Too many forex traders will trade the same way no matter how the market is behaving. Instead, you should identify the market type first. Then, you can devise a strategy appropriate to that market type. Sounds simple, right?

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The 5 Types of Forex Traders

The 5 Types of Forex Traders

There are 5 types of Forex Traders. These traders are separated by their trading style and trading objectives. What types of trader are you? The Day Trader, The Technical Analysis Trader, The System Trader, The Macro Trader, The Hedge Fund Trader.

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What is “last look”?

The Japanese candlestick tells uses a box and whiskers type format, changing between two colors dictating whether it closed higher or lower. Japanese candlesticks can be used for any time frame, and are used to describe the price action during that time frame.

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What is technical analysis?

Technical analysis is a type of analysis derived purely from charts and the price movement of the security. The basis of technical analysis is that past price movement is a good indicator for future price movement. Technical analysis uses statistical trends such as trading volume and historical support / resistance levels to gauge the movement of the price in the future. This in contrast to fundamental analysis, which involves looking at a security from a financial and economic point of view.

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What is fundamental analysis?

Fundamental analysis involves looking at the security from a financial and economic point of view. Typically, Fundamental Analysis is a method of determining a security or products real market value. Usually, traders and investors tend to look at the longer-term view of the market, looking at financial statements and economic data such as market share, industry growth, competition, business cycles and regulation. Therefore, this type of analysis is probably not suitable for shorter timeframes.

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Black Bull Group Limited (trading name: BlackBull Markets) is a New Zealand registered and incorporated company (company number: 5463921). We are also registered with the Financial Services Provider Register (number: FSP403326).

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Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.

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