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[Guest CommexFX]

COMMEXFX MT4

The popular MetaTrader, otherwise known as the MT4, is the leading online FX trading platform globally. It was designed to facilitate forex trading, despite its technically advanced features it has a very user-friendly interface with a wide range of powerful unparalleled functions. In fact the simplicity of its functionality allows the CommexFX MT4 to enable traders, both novice and experienced, to master the art of trading and trade to their best advantage.

The CommexFX MT4 allows its clients to access a whole wealth of cutting edge features, such as live-streaming prices, a wide range of charts, ability to place order types and complete management of personal accounts.

The CommexFX MT4 also offers a comprehensive set of Technical Analysis tools, and let’s not forget the favoured MQL4 programing language, enabling the use of Automated trading robots. These enable traders to automate their trades with an automated trading robot that best suits their trading style and strategies. The MQL4 programming language allows the easy creation of EAs and customised technical indicators.

The CommexFX MT4 platform is compatible with all our Mobile Trading Applications and offers an extensive range of mobile trading applications, all with unique features to enhance your trading strategy. The mobile trading platforms are: iPhone, iPad, Blackberry, Android, Windows Mobile and other smartphones.

There is no doubt that the CommexFX MT4 is designed for the modern trader always on the move, able to trade from wherever he is.

http://www.commexfx.com/commexfx-mt4/

[Guest CommexFX]

The Top 5 visual trading forex software in the market

It goes without saying that traders all over the world rely on different programs and software to analyze, evaluate and predict the various shifts and trends in the market. The software chosen by the trader will determine how the trader trades in the market.

The majority of traders employs the use of tools such as indicators and charts to understand the markets better, so these tools need to be created by the best software in the market; they need to have features and functionalities to meet even the most demanding and savvy trader around.

The following are amongst the top 5 visual trading forex software available in the market:

Tick Trader: Equipped with Visual Algorithm Development, Simulation, Automated Trading, Combined Bars, Back Testing and Live Automated Trading, this software has become a favorite amongst traders. This software provides the trader with different technical analysis data in a visual format, facilitating interpretation.

VT Trader: Being a flagship project of Visual Trading Systems, this software enables the trader to trade directly on different visual charts. This platform is also known for its innovative and customized trading features along with various indicators that allow the trader to speculate and predict market movement. Owing to its amalgamation with the most powerful API, this software gives the traders the flexibility of visual charting. This software can easily be used by both novice and professional traders. Even different corporations involved in forex speculation can also use this platform to forecast the market.

Inside Viewer®: This software is based on insights, providing the trader with different types of data related to the forex market. There are three different insights that are presented by this platform, popularity of currency pairs, deal structure and deal direction. All these insights are related to the trading of different orders and open positions. The trader will receive real time data related to different trades and trends in the market in a visual format, which is easy to understand.

Forex Strategy Builder Professional: Inclusive of data sources, collections, user profiles, multiple strategies, real OOS generating and proper optimization, this platform facilitates trading for the trader. This platform is fast in loading real time data from the market. Traders are impressed with its user-friendly interface and easy navigation facility. The trader can predict the market trends and movements, with the help of visual representation.

FX Synergy: Specially designed by professional traders, FX Synergy is a great visual trade managing platform. Specifically designed for the MT4, this platform has all the functionality required by a trader needs manage and execute trades in the market. Special chart shots provide the trader with a visual representation of different trading data. Integrated news alerts also ensure that the trader is keeping track of all important economic news.

Selecting visual software for trading is not as difficult as you may think. A trader needs to first identify his needs and then choose a platform that most meets these needs. The platform selected needs to be tried and tested before trading real money.

It is always advisable that the trader is armed with knowledge and information about the software he is going to use before trading; as well as having some background knowledge of the FX markets.

http://www.commexfx.com/the-top-5-visual-trading-forex-software-in-the-market/

[Guest CommexFX]

FOREX INFO-TOO MUCH OR TOO LITTLE?

Every trader wants to conquer the world of trading and sit on the throne of FX!

And as much as it is advisable to learn all the basics to FX trading, you need to be able to filter and not over-saturate your brain with all the information out there. Too much information can actually be detrimental to succeed in trading.

There are a few factors which can bewitch you into thinking they are imperative to mastering FX trading, but in actual facts they should be avoided as much as possible.

News And Financial Media

The strongest weapon to influence the traders mind. If the news is negative so is the trader’s mind, if the news is positive so will be the trader’s mind. A positive mind will always perform better, as positiveness reflects in a trader’s strategy and investing decisions.

Don’t forget that main stream media is produced by people that are not traders nor investors; they are just journalists creating content to make news.

News trading can bring substantial profits to traders but it is a very difficult strategy to master, requiring much experience and knowledge; those with less knowledge are bound to make many mistakes when ‘trading the news’ resulting in substantial losses.

The addiction of Screen Watching

Being hooked to the screen 24/7 makes you into a ‘day trading gambler’ even if you don’t want it to. Imagine staring at 20 different charts a day, following the higher time frames and then the lower time frames, trying to decide whether to scalp 10 pips here or 5 pips there, leading to an addictive trading behaviour which results in the spontaneous placement of orders and trades, hoping that the next trade will bring profit and depending on luck! This will be disastrous and is indicative of the gambling behaviour we all spurn.

Too many strategies don’t work!!

With so many trading strategies available, so many ideas and philosophies, and educational webinars about FX trading around, a novice trader is spoilt for choice, but too much choice can be confusing and misleading.

A novice trader should not accumulate trading information from different sources and bundle them all together in his head, as they will lose all direction and defeat the object. A novice trader should choose a source carefully and only when that subject has been mastered should he leap into a new subject. FX knowledge requires patience and planning.

Greed-the force behind FX

Greed is the hunger of trading; the reason why people get involved in the FX markets. Even if a trader ventures into the world of FX trading for the sake of curiosity or simply because it is fashionable, trading is completely capable of bringing out the greedy side in all of us.

We are all capable of promising ourselves that ‘when I make so much etc., I will manage my risk better’ but that is never the case! We are humans and we are guilty of greed, so suddenly we see ourselves in the mindset of risking more than we can afford to lose, and that is where the danger begins. We lose control and the powerful mindset of trading overwhelms us.

Greed should never be the reason why you want to discover FX trading, it should be another reason, such as curiosity or simply an interest in this new industry.

Confidence conquers fear

A trader needs to trust himself and his trading strategy. He needs to be confident with every order he places, he needs to trust his own judgement when making trading decisions, and he needs to exert discipline in his own strategy. Other traders ‘opinions or stories should not count.

http://www.commexfx.com/forex-info-too-much-or-too-little/

[Guest CommexFX]

What methods are employed for currency forecasting and how is it related to currency trading forex spot rate?

The financial market has become popular due to its vitality and accessibility. But when it comes to trading in different currencies, traders and investors need to grasp the best methods for forecasting currency trading and forex spot rate.

Currency trading forex spot rate is the exchange rate of currencies being traded in the financial markets.

Different methods of currency forecasting

Currency forecasting is essential for determining the forex spot rate in the trading market. Below are the two main methods of currency forecasting:

Technical analysis: A traditional market like the stock market employs this particular method to determine the currency trends of the future. This method relies on price history to predict the future trends. Technical analysis comprises many different methods, which generally rely on the price movements of the past.

Fundamental analysis: taking into account different interest rates and economic reports, this method tries to draw its conclusion from numbers. This is a classic way of currency forecasting. It generally revolves around the fact that no matter what happens in the short tem, eventually all investments will have to follow economic numbers.

Apart from the above mentioned methods, traders follow some other techniques for forecasting the exchange rate:

Time Series Model: As part of the technical analysis process, this model focuses on past behavior and price patterns to determine the trends in future.This model requires data made from price patterns in chronological order

Relative Economic Strength Approach: According to this approach, a strong economic environment and high growth patterns of a country is likely to attract investors into its market. Hence, this method analyzes the growth patterns of different countries in order to forecast the forex spot rate.

Econometric Models: This method collects all different factors that the trader thinks are essential for determining the movement of a certain currency. This helps in creating an econometric model that is based on economic theory. But as the economy is based on different variables hence, the trader can add any factor that he thinks will influence the currency rate in the future.

Purchasing Power Parity (PPP): Owing to its inclusion in different text books, this method has become very popular in the financial market. This method is based on the principle of theoretical Law of One Price that states that identical goods should have one price per country. Hence, the forex spot rate will change according to the inflation in a particular country.

Relation between currency forecasting and forex spot rate

Determining the forex spot rate (exchange rate) is primary for every trading firm and market. Currency trading is all about future trends and patterns. So, it is imperative for every trader to determine the correct forex spot rate so as to reap profits in the future. If something goes wrong in currency forecasting, it would be difficult for the investor or trader to ensure better returns from the foreign market.

However, the co-relation between forecasting and exchange rate cannot be denoted in theory. There are numbers, figures, models, methods and analysis that determine their relation.

Currency trading and forex spot rate are the two most important pillars of the foreign exchange market. Their correct forecasting will determine correct results and huge profits in the future.

http://www.commexfx.com/what-methods-are-employed-for-currency-forecasting-and-how-is-it-related-to-currency-trading-forex-spot-rate/

[Guest CommexFX]

Interesting Facts to Know About Price Action Trading

Price action movement has been proved to be the new judge of market movements. It has been setting a trend in the volatile markets for quite some time. Markets are volatile; they change without warning and can catch you by surprise. Prices quoted also leap and change. There needs to be a mechanism which strikes an even balance between dynamic market conditions and changing prices. Price action is a technical analysis trendsetter which does exactly that; it allows you to feel the movement of the trade and feel its freedom.

These are the four main things you need to keep in mind with price action trading

Price action is not a theory based movement which needs memorizing

Many of you coming over to the ‘price camp’ might have been using a more rigid and rule based trading system than price action movement. All you need to do here is read a few good signals on the price chart. You just need to read the price chart from left to right. Then you are all set to go.

You can apply these signals over a week or over a month. If markets don’t have any significant movement for three days in a stretch, you don’t have to break your head over what is happening. All you need to do is just wait and watch for more action. Henceforth, you simply don’t have to memorize or summarize a set of norms or rules. You just need to have an open mind on rising and falling price signals that is about it.

Price Action is Universal

The pricing analysis is a direct proportional aspect to rising and falling trades. It is a universal aspect which has always worked and will work. The real time speculation happening way back in 1700’s used a similar kind of trading mechanism.

Just because it is stated, that the price action movement works, that simply doesn’t mean that every trade is a winning trade. Even successful traders lose out half of their trades or even more. They follow proper risk management procedures and have a refined sense of when to trade and when not to. This is how they make a lot of money over 90% of the losing traders.

Price action system is not something like gold bars

There are people who are convinced that trading will make them billionaires over night, but it really is not the case! One needs to understand the markets and trade steadily and surely, so that they can manage risk and exposure and even make some profitable trades!!

Similar way, you cannot blindly get caught in the glimpse of price action bars. These are not gold bars. You need to interpret the signals right and keep watching the market movements or trends. These trends keep repeating themselves over a point of time and you make winning trades here when you are fully aware of what you are doing.

Trading changes your overall outlook in life all together

Trading tests your patience like nothing else does. You know you have passed the test when after losing a number of trades, you still do not surrender to madness and anger; yet you remain cool and calm, and even consider carrying on trading. You maintain the same level of enthusiasm and curiosity in trading; losing a couple of trades does not deter you from placing more trades.

http://www.commexfx.com/interesting-facts-to-know-about-price-action-trading/

[Guest CommexFX]

ONCE A DEMO ALWAYS A DEMO

Traders either loathe them or worship them, but, if the truth be told, demo accounts are used by brokers to entice traders to open live accounts.

Conventional wisdom suggests that demo accounts are a safe way to sample a risk-free trading environment, since we all know that plunging into the deep end and placing orders with no prior experience can result in a loss of large sums of money.

Demo accounts are supposed to combat inexperience and trading naivety, but do they?

The main factor of Demo accounts is that they do not trade with real money. This lack of risk would be considered an advantage in itself, but it does not make the trading experience realistic, it makes it emotionless, you don’t care if a position goes well or if you lose all your trading capital. There are no consequences for your actions, you don’t bother to learn from your mistakes and there is no disincentive to trade in a particular way. You don’t get to rationalize in real money – there’s no impetus to cut your losses and run on with your profits, nor is there any means of truly highlighting the riskier strategies from those that are more cautious. With a demo account, there’s no real accountability, which can and does hamper the trading experience.

Overconfidence, a detrimental factor- demo traders enter the financial markets with unrealistic balances in their account of up to $100,000, possibly an amount bigger than they would ever have in a live account. They will hold large losing positions which would be impossible to float on a live account with their own capital. This big amount of virtual money accessible to the demo trader is highly unrealistic; imagine if he only wants to trade a mini or a micro account? It will encourage the demo trader to take on riskier trades than he would normally do in a live account with real money, developing excessive risk trading into a habit which will be disastrous when the demo trader becomes a live trader!

Limitations of a demo account-their impact on trading strategy and style is actually much less than it could be. Demo accounts are often inherently limited, either in functionality or in the markets they represent. Market data is often delayed, as it is fed through the demo trading platforms/servers, eliminating much of the intricate features of trading, such as news announcements and live market events, this somehow prevents a demo trader from becoming an accomplished trader ready to take on the real world of FX trading!

Demo psychology-demo trading does not accurately reflect the true psychology of a live trader as trading with virtual money will not allow you to have the real gut feeling of making trading decisions on the spot and under extreme pressure that trading with your own hard earned money entails. With no real money at stake, the trader’s understanding of the underlying risk is actually limited or impaired. Alternatively, when you do trade on a live account, you can clearly see the need for discipline and risk management, elements which are not deemed necessary when trading with virtual money.

Conclusion-few will argue that a forex demo account can be undeniably useful in developing and mastering a certain trading strategy but unless the trader experiences the difficulty of making trading decisions involving real money and experiencing the pain of losing funds, he will not fully understand, much less avoid, the real risks of FX trading!

http://www.commexfx.com/once-a-demo-always-a-demo/

[Guest CommexFX]

Top 5 factors which will impact your Trading performance

Trading is neither easy nor difficult; it is an art which requires continuous planning, setting and sticking to goals, persistent thinking and tons of discipline. The trick is to study the market movement, the highs and lows, and to know when to cut your losses and make a killing!

The following are 5 tips which you should incorporate in your everyday trading plan to reach the level of trading you wish to achieve.

They are:

Keep the thinking process simple

The more you trade the more risk you manage with your hard-earned money; and the more complicated it can become for you. Due to this, the trading strategy you employ must be disciplined and strict in a systematic way, enabling you to achieve certain professionalism in your trading.

The best advice is to invest only money you can afford to lose. So if you decide to invest $2000 , then bear in mind that you could lose this. Be smart; arm yourself with knowledge and tons of patience! Slowly and surely, study the market movement, place your trades and cut your losses as soon as you can. This way your approach to trading becomes a disciplined one. Whatever money you have earned during course of trading needs to be put back into the account itself. This way, you give a minimum lock in period for the capital base to grow.

Stick to major currencies

It is better you trade with two to four sets of currencies to discover the joy of trading, than sampling 40 different currencies which will only confuse you. If you trade with major forex currency pairs, the markets are more liquid and less volatile for you to succeed in maximizing your profits without too much risk.

Keep minimum number of trading steps

Keep a trading journal in front of you. And record the transactions which you perform on a daily basis. Make a track of losses which you could have avoided, had you applied alternative trading strategies.

Keep to three or four basic trading strategies and stick to these. If you include too many trading trends and ideas they can both drain you and confuse you. It is the quality and not the quality of trading principles which will eventually work in your favour..

Know your maximum dollar risk per trade, do not exceed

Ideally you would need to deposit at least $5000 in your live trading account to get exposure to big position sizes. The money you deposit needs to be utilized optimally. At the same time, avoid risking too much of capital. You need to evaluate how much money you are comfortable with losing out in one single trade. Once you have analyzed everything, follow a disciplined approach to leave losses to the comfort zone. Never exceed that particular amount on any given day. You can make your earnings better by minimizing your potential losses.

Price action movement

Price action is a technical analysis and is the simplest strategy which is recommended for beginners to learn. These are feel good signals of the market where you need to sell the currency. There is an indicator to buy currencies as well. Price action strategy is tried and tested and follows a scientific approach to trading. You can incorporate this in your daily trading plan.

Follow up these up and become a successful savvy trader from day one!

http://www.commexfx.com/top-5-factors-which-will-impact-your-trading-performance/

[Guest CommexFX]

Exclusive Reasons for Having A Trading Plan Just Before Starting Off

Just before you start your college session, there are a couple of smart bees who decide how to manage the day. Forget about the strict timetable, the college notice board comes up with. You can prepare your own daily time-table to be incorporated after college hours. You can dedicate two hours of study in Math, in case you feel you are not so good at it. The next day off after study hours can include English. Likewise, when you have a dedicated time table, after-study hours, you are able to crack exams with a better level of confidence. The same thing holds good for excellent performance in trading.

You need to have a clear cut plan or objective just before you start of trading. This makes sure you don’t go off track and you remain accountable to whatever transactions you strike on the market. This ensures you follow trading with a scholastic as well as a disciplined approach. You can stick it up on your walls or near the fridge in the form of post chits or green cards so that the plan is clearly visible in front of you. An excel sheet can also be maintained on your laptop, configuring your trade losses, risk per trade lot and wins for the particular day. This makes sure you are able to gauge your own performance and know where you are heading at. Looking at charts and indices comes next.

The trading strategy contains the following

Define your entry strategy. Just jot down what will be the course of action, you would ideally take, if the markets are signaling downwards or experiencing reverse spins for most of the day. When the markets are completely dampened, it is better to stay idle than to put up with huge losses.

Determine your risk vs reward scenario. On any given situation, you need to know when to apply a stop loss to minimize risks and as far as winning trades are concerned, you need to exit markets for the day. You need to have the goal mentioned clear cut. This is so that you are not tempted to over trade or over leverage on your account.

You need to determine the exit strategy well in advance. When you are at it, i.e. The live trading domain, you are completely lost and lose out your self-written objectives. Better to get it written down on a note pad or trading journal book.

Never adjust stop loss to meet a desired position size. You need to be earnest in following up with business ethics. Earn money using your own merit and not by manipulations.

After the trade is over, play a game of solitaire or chess on your PC or otherwise. This relieves you from feelings of frustration, anger, disappointment or whatever emotional feelings that can put you back on the vicious cycle.

These 5 things determine a devised strategy before you start off live in the market.

Happy trading hours!

http://www.commexfx.com/exclusive-reasons-for-having-a-trading-plan-just-before-starting-off/

[Guest CommexFX]

Why Most Traders Fail In Forex Trading?

Making money through the equities is a pretty difficult task. Poor trading techniques, lack of confidence, patience and discipline can cause failure in the stock market. A trader is supposed to know the tricks of trading. Inefficient traders who lack foresight — risk all their money in one stock, without planning before investing. Planning is a must rule in the stock market. Complicated trading techniques and lack of planning will lead to the failure of the trader. Successful traders treat trading as their business and hence develop a plan.

Lazy Traders are sure to fail

Without substantial planning a trader is sure to fail. Few traders are too lazy to devise an effective trading plan. You need to do a little homework in order to come up with a functional plan. This requires a lot of effort and some traders are too lazy to do this. Lazy trading results in failure. For gaining success in the stock market, it is not just luck, but effort is also required. Overconfident, inefficient and lazy traders are always in a rush to try their luck — which results in disappointment.

Trading too much

The reason why most of the traders are plagued in Forex trading is that they are addicted to the stock market and invest too much. Greed is one of the seven vices that brings downfall. In an attempt to win more and more, greedy traders can lose a substantial amount of money. Good traders must not behave like gamblers — staking money in casinos. Trading in Forex is an art which is far superior than gambling at roulette.

Neglecting Demo trading

Demo trading is mandatory prior to real trading. Demo trading is just like stage rehearsals before a show. Overconfident, greedy and bad traders do not comprehend the importance of demo trading. Demo trading must be carried out for a substantial period of time in order to acquire a sound knowledge of market trends and trading techniques. All good traders bank upon demo trading. Demo trading gives you an idea about how you will perform in real trading. In 90% of the cases, it is found that one who is unable to make money in demo trading cannot make money in real trading either.

Use of complicated trading techniques

Complicated trading techniques will not land you anywhere. Trading methods have to be very comprehensive, easy to handle and functional. Trading strategies or systems need to be simple and effective. Easy trading techniques will bring big benefits in the long run. Successful traders master the art of disciplining — all by themselves. They are accountable and have a trading plan that is tangible. Simple strategies will surely bring consistent profits in the stock market.

Simplistic trading strategies will allow you to maintain simplicity in trading. Price action is the simplest trading technique that maintains simplicity in trading. Pondering over the complex strategies will only consume time without bringing any healthy profit. Trading with simplicity is an art which requires discipline, practice and patience. Trading off with simple prices will make one understand the economic scenario.

http://www.commexfx.com/why-most-traders-fail-in-forex-trading/

[Guest CommexFX]

How professional traders need to think, in order to succeed?

Success in trading is a big mystery that needs to be unraveled. A professional trader knows how to be a successful trader for he thinks right. He knows what all should be made for success in trading. A professional trader is not driven by his impulses and acts in a matured way.

Professional Trading

A professional trader controls himself and not the market. He is not the chaser of trades and is very selective about trading. He is well versed with the art of trading strategies which he has himself mastered through experience. Professional traders are not reactive but they are anticipatory. They are advanced trade planners and have a preference for the markets they trade. The key levels are marked by them well and they wait in anticipation for the perfect signal. Professional traders are patient and well disciplined trade planners. They master the art of trading strategy and this equips them with the ability for anticipation and planning things out prior to trading. They are calmer, more balanced. Professional traders are not aggressive traders who would trade even at unfavorable times. They wait for the perfect moment to arrive and if that does not happen, they keep away from trading. Professional traders are not sentimental and emotional. They know the adverse effects of being emotional. Being overly-emotional is the gateway to disaster. In order to check their emotions they never ever exceed risk tolerance. They know very well how much loss they can bear. They are neither too happy with their wins nor too sad with losses. They know the fact that emotional upsurges are detrimental. They have all the conviction and confidence that is required for good trading.

Market Trends

A professional trader knows the market trends much more than an amateur. They can make educated guesses on what is going to happen in the market. Struggling traders generally involve themselves too much in their own trade by stops and targets. They frequently add to and reduce positions. Professional traders allow their trades to work things out for them. The fact is that the professional traders balance in their approach. They are manipulative, strive hard to master the trading strategies, examine their own trade moves. They are not driven by greed and their own impulses in any way. They do not allow the open trades to toy with their minds and emotions. They never exit before hitting the targets. They do not interfere with trade.

Trading Plans

Professional traders are largely successful since they are rational beings who think objectively. They are not driven by preset notions. They are good planners who plan everything prior to trading and execute their trading plans logically. They believe in themselves and have full faith in their judgments. Professional traders respect the market. They are more concerned about their risks than gains. This is what you need to cultivate within yourself as a successful trader. The victorious ones have healthy trading habits that result of proper planning and strategies. They are patient planners who plan everything beforehand. Professional traders have all the qualities of good traders. Effective management of money along with years of experience in trading make them successful traders.

http://www.commexfx.com/how-professional-traders-need-to-think-in-order-to-succeed/

[Guest CommexFX]

Rule the Market By Means Of Confident Trading Approach

Confidence is the key to success. The Foreign Exchange Market is a decentralized market that is meant for trading currencies. It is the Forex that determines the value of currencies. The magnetic power of money has driven the investors to invest in stock markets. Earning money through equities is not an easy task. Huge amounts of researches and oodles of discipline, patience and confidence are required. You need to have a comprehensive idea of the market. Looking at the volatility of a market, the investors are in a constant dilemma whether to invest or not. As a result of market volatility, the investors lose faith in the stock market and shut themselves off from stock markets. Ideal investors must know how to handle this volatility with confidence. The world of the stock market is a competitive market requiring far sightedness and years of research. People who are not confident cannot survive through the ups and downs of the marketing trends.

Reflecting on the winnings

For efficient trading you need to be confident. Efficient trading habits help to build up confidence. In a way confidence and perfect trading habits are directly proportional. Low level of confidence can cause a dent in one’s trading performance. Reflecting on one’s own winnings can make one a winner. A winning trade can be used as a tool to invite further wins. It is mandatory to reflect on one’s own wins . It is necessary to ponder on the factors that lead to the win. Important factors must be jotted down in a trading journal to record the trading policies that triggered the win. Trading techniques must be learned by heart and this is only possible when one trades with small amounts. Trading skill if acquired will make one confident in trading.

Progress from smaller amounts to bigger amounts

If you are a budding investor, you are supposed to trade with small amounts of money to acquire the trading skill. Only then will it be possible to trade with bigger amounts. Trading skills, if acquired, will enable you to gain confidence.

Failures are the pillars of success

Losing trades are the best teachers that teach the trading skills. Disappointment after a losing trade must never be an obstacle in the path of successful trading. A simple losing trade must not be mixed with major failure. It must lead one to a series of winning trades. To make this possible one must reflect on the reason behind the loss. Proper record of the losing trade must be maintained in the trading journal so that the mistakes do not get repeated in near future. This is the only through which minuses can be converted into positives.

Act like a Super trader

Believing is doing. If one is confident enough to achieve success, then no one can stop him/her from winning. Acting like a matured trader is important. Brooding over one’s losses and wins is an absolute passé. A trader must move away from his computer after winning and losing trades .

Read more > http://www.commexfx.com/rule-the-market-by-means-of-confident-trading-approach/

[Guest CommexFX]

Do You Really Have What It Takes to be a Forex Trader

Do you possess the skills and the abilities required to be a successful trader? Abilities need to be developed by an aspiring trader. A lot of discipline and perseverance are required for earning money in the markets. You need to learn the art of losing like a professional trader. If you are not prepared to lose money by trading, then trading is not meant for you and you are not fit to be a forex trader. Losing is the part of winning, but lose the amount of money that you are comfortable with. Now how you can attain that losing mark which you can bear? This has some special trick working behind it. Effective risk management is the key behind ensuring that losing amount you are comfortable with. In order to detect whether you are meant for trading or you are simply wasting your time in the markets the following aspects have to be considered:

1. Are you prepared to lose?

This is the one question you need to ask yourself. If you are prepared to lose, then the next thing that needs to be done is figure out the way to deal with those losses. You need to integrate the losses into the trading plan. Then again, you need to ask whether you know the art of risk management in order to make sure that you lose the amount you are comfortable losing. Manage your risks well and trade less frequently to pass for a forex trader.

2. Do you have the patience required for being a forex trader?

A successful forex trader wins over the temptation for trading by patience and discipline. Ponder over whether you have the patience or you lack it. Money should not be lost foolishly as it is a limited resource. Restrict yourself from over trading as it is hazardous for both professional and an amateur trader. Wait for your trading edge and favorable market situation. Wait for the trade setup that has been predefined in the trading plan.

3. Do you know the art of controlling your emotion?

If you are crying like a one-year-old baby after a trade loss then simply quit trading. Trading is not meant for the ones who are emotionally weak. Trading is not at all for those who are constantly wallowing and fluttering in the market without any good reason. If you cannot check your tears on losing then you should have better monitored your trading actions prior to trading. Trading is the test of self-control. Control your trading actions and stop being over emotional over a loss if you want to pass for a professional forex trader.

4. Have you mastered the trading strategy?

Not risking more is a healthy sign, but a little healthier is not overindulging in the market by mastering the trading strategy. Trading strategy, trading plan and trading journal must all be mastered to the fullest.

5. Are you a disciplined trader or a gambler?

If you’re trading in a disciplined and self restrictive manner, then trading is for you. Organization and discipline are indispensable part of good trading. Do not succumb to the temptations. Trade only when you have your edge. Some traders trade under compulsion and incur significant losses. To avoid this refer, to the price action plan and apply your trading strategies as well.

If you want to examine your effectiveness as an efficient trader then go for demo trading. This will give you a crystal clear idea of where you stand as a trader.

http://www.commexfx.com/do-you-really-have-what-it-takes-to-be-a-forex-trader/

[Guest CommexFX]

Good morning! Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His speech today is expected to result in a high volatility.

http://www.commexfx.com/trading-tools/economic-calendar/

#economic #calendar #fx #forex #boc #uk

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Commexfx Platforms

Trading at CommexFX has never been easier with our state-of-the art online ‪#‎trading‬ platforms. We offer our clients access to MetaTrader 4 (MT4), MT4 Multiterminal, and also Myfxbook Autotrade, one of the best social trading ‪#‎Forex‬ software.

Read more > http://www.commexfx.com/forex-trading-platforms/

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Avoiding Potential Forex trading Robots fraud

Forex robot is considered to be the most famous software for designing a personal forex. Robots act as an expert adviser within the platforms for forex trading.you might be disappointed after purchasing a robot since it may not perform well as per your wish. The vendors might be a fraud who offered you a robot that is ineffective for your trading.

The process of selling the forex robot

The automated trading robot seller might be presenting the robot positively in order to reap more and more profits. Attractive pictures of money stacks, glowing testimonials may be displayed by seller of the automated software seller. Such robot sellers make strong claims about the profits that robots have reaped for the traders in the past. However the seller present that phase only when the robot showed a winning streak.

The disclaimer game played by the vendors of forex trading robots

The vendors might hide behind the various negative disclaimers. The disclaimers are used as an effective defense tool in order to wash their hands off from any king of liability of forex fraud. If the automated robot proves to be a failure, then the disclaimers will protect them. They make very clear through their statements that the robots might not give the traders the expected results. They do not give any assurance of profit to the buyer through disclaimers. The trading results that are back tested are worthless. You should not at all consider them.

The practices adopted by the vendors to cover up the losses

After the traders have lost a significant amount of money using the robot, the vendors in order to quieten the trader pays him a small amount of money as a refund. Through this the vendors cover up their exclusive hypes on robots that were made prior to the purchase. Always use ‘Clickbank’ for purchasing the robot for the refund may be avoided by the vendor altogether. This will avoid all the hassle associated to refunding in case the trader incurs loss in trading. Clickbank will certainly return the funds to the trader within the duration of 60 days itself. But then test the robot properly within the trial period of 60 days. This will help in avoiding the disappointments arising out of trade losses. Using Clickbank is the most secured way of purchasing a forex robot for there is no fear of losing the money that is invested in buying of the automated software.

It is a very thought provoking question that if the robot costs something around dollars, then why at all the bank paying the traders the amount invested in purchasing the robot after the trade loss has been incurred. These forex robots most of the times do not deliver the expected results or what was promised prior to the purchase of the robots. But on the other hand the disciplined traders make the most out of the same robots that were sold by the vendors. It is mainly the would-be-traders of the forex market who fall into the traps of the false promises of the vendors. Just avoid forex robots and learn to trade the price chart effectively.

http://www.commexfx.com/avoiding-potential-forex-trading-robots-fraud/

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ΚNОW АBОUT ОNLІNЕ АND РHУSІСАL GОLD ТRАDІNG

shutterstock 120048376 ΚNОW АBОUT ОNLІNЕ АND РHУSІСАL GОLD ТRАDІNG

Іf уоu аrе іntеrеstеd іn stаrtіng а busіnеss оn trаdіng, gоld trаdіng іs оnе оf thе bеst орtіоns аvаіlаblе fоr уоu. Тhеrе аrе mаnу rеаsоns fоr уоu tо thіnk оf trаdіng thіs рrесіоus mеtаl. Оnе оf thе strоngеst rеаsоns іs thаt іts рrісеs nеvеr соmе dоwn оn thе lоngеr tеrm. Аnоthеr іs thаt іt іs nоt а реrіshаblе соmmоdіtу thаt уоu nееd tо dіsроsе оf уоur еаrlіеst whеthеr оr nоt уоu gеt рrоfіts. Аlsо, уоu nеvеr nееd tо hаvе аn іn dерth knоwlеdgе оn thе соmmоdіtу. Yоu оnlу nееd tо knоw іts раttеrn оf рrісе fluсtuаtіоn.

Whеn іt соmеs tо trаdіng gоld уоu hаvе twо орtіоns. Іf уоu wаnt tо dо іt іn thе trаdіtіоnаl wау, уоu nееd а bіg саріtаl аnd іt іs nесеssаrу fоr уоu tо vіsіt рlасеs whеrе уоu соuld рurсhаsе уоur gоld іn оrdеr tо mаkе уоur рurсhаsе. Іt іs аlsо nесеssаrу fоr уоu tо hаvе sоmе аrrаngеmеnt tо sеll. Еіthеr уоu nееd tо mееt уоur сustоmеrs аnd sеll thеm оr іt іs nесеssаrу fоr уоu tо hаvе а shор whеrе уоu sеll уоur gоld соіns оr gоld bаrs.

Іn саsе уоu dо уоur gоld trаdіng іn thе mоdеrn wау, уоu оnlу nееd vеrу lіttlе mоnеу аnd уоu соuld dо уоur trаdіng frоm hоmе. Іn оrdеr tо usе thіs mеthоd уоu nееd tо hаvе а соmрutеr wіth аn іntеrnеt соnnесtіоn аnd аlsо уоu nееd tо hаvе а gооd knоwlеdgе оn usіng thе соmрutеr fоr trаdіng. Yоu nееd tо usе thе tооls оffеrеd bу уоur fоrех brоkеr аnd іt аlsо іs nесеssаrу fоr уоu tо hаvе аn uр tо dаtе knоwlеdgе оn wоrld аffаіrs аnd thе есоnоmіс sіtuаtіоns оf соuntrіеs іmроrtаnt fоr trаdіng gоld.

Іn bоth tуреs оf gоld trаdіng thе mоst іmроrtаnt аsресt іs tо bе аwаrе оf рrісе fluсtuаtіоns оf gоld. Іt іs а must fоr уоu tо buу уоur gоld whеn thе рrісе іs lоw аnd sеll whеn thе рrісе gоеs hіgh. Іn саsе оf оnlіnе trаdіng уоur brоkеr wіll hеlр уоu wіth thе nесеssаrу іnfоrmаtіоn. Вut whеn уоu dо іt рhуsісаllу уоu nееd tо dереnd оn уоur оwn knоwlеdgе оn thе mаrkеt trеnds. Тhеrеfоrе, уоu nееd tо rеаd nеwsрареrs аnd mаgаzіnеs thаt рrоvіdе guіdаnсе оn thе рrісе fluсtuаtіоns оf gоld іn thе wоrld mаrkеts.

Іn саsе уоu аrе аblе tо fоllоw thеsе fеw tірs уоu аrе rеаdу tо еngаgе іn gоld trаdіng аnd еаrn vеrу gооd рrоfіts. Іf уоu hаvе mоnеу tо thrоw іn, сhооsе thе trаdіtіоnаl trаdіng. Іf уоu dоn’t hаvе mоnеу аnd hаvе thе knоwhоw, сhооsе оnlіnе trаdіng.

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РRІСЕ АСTІОN FОRЕХ SUРРLУ АND DЕMАND

Оnе оf thе mоst dіffісult аsресts оf lеаrnіng tо trаdе іs fіndіng whісh sуstеms, strаtеgіеs, оr іndісаtоrs mіght wоrk bеst gіvеn уоur реrsоnаl gоаls іn thе mаrkеt. Ѕurеlу, thеrе аrе quіtе а fеw сhоісеs оut thеrе аnd thеrе аrе numеrоus dіffеrеnt wауs оf gоіng аbоut sресulаtіоn іn а mаrkеt; mаkіng thіs ‘јоurnеу’ tо fіnd а реrsоnаlіzеd аррrоасh еvеn mоrе dіffісult.

Furthеr ехасеrbаtіng thіs іssuе іs thе tоріс оf ‘lаg,’ оr thе fасt thаt аnу tесhnісаl іndісаtоr thаt іs usеd (оr аnу strаtеgу bаsеd аrоund tесhnісаl іndісаtоrs) wіll bе dеlауеd іn іts rеsроnsеs. Тhе rеаsоn fоr thіs іs sіmрlе: То сrеаtе аn іndісаtоr, а sеrіеs оf раst рrісеs аrе usеd tо соmрutе іts vаluеs whісh сrеаtе а tуре оf ‘аvеrаgіng’ еffесt. Тhіs саn bе gооd іn thе fасt thаt іt саn hеlр tо smооth оut vоlаtіlе еvеnts (аftеr аll, thіs іs whу реорlе usе mоvіng аvеrаgеs іn thе fіrst рlасе), but іt саn bе bаd bесаusе thіs аvеrаgіng еffесt (whеthеr іt’s wіth а mоvіng аvеrаgе оr RЅІ) іntrоduсеs dеlауs аnd lаg tо thе trаdеr.

Тhіs іs whеrе рrісе асtіоn саn hеlр. Рrісе асtіоn іs thе studу оf рrісе аnd рrісе аlоnе іn а mаrkеt, wіth nо іndісаtоrs rеquіrеd. Wіth рrісе асtіоn, trаdеrs саn lооk tо grаdе trеnds аnd mаrkеt соndіtіоns, еntеr аnd trіggеr роsіtіоns, аnd mаnаgе thе rіsk оf thеіr trаdіng ореrаtіоns.

Іn thіs аrtісlе, wе’rе gоіng tо ехаmіnе thе mоst bаsіс рrеmіsе thаt аllоws рrісе асtіоn tо wоrk: Ѕuррlу аnd Dеmаnd. Оvеr thе nехt sеvеn fоllоw-uр аrtісlеs, wе’rе gоіng tо dіg dеереr іntо рrісе асtіоn wіth bоth аnаlуsіs аnd strаtеgу ріесеs. Іf уоu’d lіkе tо bе nоtіfіеd uроn thе аvаіlаbіlіtу оf thеsе аrtісlеs

Тhе Моst Ваsіс Rеlаtіоnshір іn Маrkеts: Ѕuррlу аnd Dеmаnd

Оnе оf thе bеst аsресts оf рrісе асtіоn іs thаt іt оffеrs trаdеrs а сlеаn dерісtіоn оf suррlу аnd dеmаnd аt аnу оnе роіnt іn а mаrkеt. Аs mеntіоnеd аbоvе, thе lаg іntrоduсеd bу іndісаtоrs саn сrеаtе dіssоnаnсе іn а numbеr оf wауs, lеаst оf whісh іs аllоwіng thіs ‘аvеrаgіng’ еffесt tо оbsсurе thе rеlеvаnсу оf nеаr-tеrm рrісе mоvеmеnts.

Неrе’s аn ехаmрlе: Іmаgіnе thаt wе gо іntо а Νоn-Fаrm Рауrоlls rероrt аnd thе UЅDЈРY hаs bееn stuсk іn а tіght trаdіng rаngе fоr thе раst 5 mоnths. Ѕо mоvіng аvеrаgеs оn thе dаіlу, аnd thе wееklу сhаrt аrе bоth mоvіng flаt tо rеflесt thіs lасk оf vеrtісаl mоvеmеnt оn thе сhаrt. Вut whеn ΝFР іs rеlеаsеd, wе rесеіvе а ‘blоw оut’ fіgurе thаt fаr есlірsеs еvеn thе mоst bullіsh аnаlуst ехресtаtіоns.

Оnсе ΝFР іs rеlеаsеd аnd рrісеs sріkе, dо wе stіll tаkе іntо ассоunt thе rеlеvаnсу оf thе mоvіng аvеrаgе vаluеs? Весаusе surеlу thе реrіоds usеd іn thе саlсulаtіоn оf thаt mоvіng аvеrаgе bеfоrе thе ΝFР рrіnt аrе quіtе а bіt lеss rеlеvаnt thаn thе реrіоds sіnсе, gіvеn thаt thеrе іs nоw nеw іnfоrmаtіоn thаt саn сrеаtе аddіtіоnаl suррlу оr dеmаnd (аnd thеrеbу сrеаtе аddіtіоnаl рrісе mоvеmеnts).

Ѕuррlу аnd dеmаnd іs аt thе соrе оf рrісе асtіоn.

Іf thеrе іs mоrе dеmаnd thаn suррlу – рrісеs wіll gо uр. Тhіs іsn’t јust FХ оr fіnаnсіаl mаrkеts оr соmmоdіtіеs: Тhіs іs аll-аrоund us іn thе wоrld wе lіvе іn.

http://www.commexfx.com/РrІСЕ-АСtІОn-fОrЕХ-suРРlУ-Аnd-dЕmАnd/

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GЕОРОLІTІСS АND THЕ FОRЕХ МАRKЕT

Ѕоmе sеrіоus nеgаtіvе gеороlіtісаl еvеnts hаvе bееn іnfluеnсіng mаrkеts durіng thе раst fеw wееks аnd mоnths аnd gеороlіtісs іs fаst bесоmіng а fасtоr thаt іnvеstоrs must рау сlоsе аttеntіоn tо.

Тhе сrіsіs іn Ukrаіnе hаs рrоvеd а fосаl роіnt durіng 2014, аs mаrkеts gуrаtе frоm unеаsе tо саlm оvеr еvеnts suсh аs thе аnnехаtіоn оf Сrіmеа bу Russіа, thе fіghtіng іn Еаstеrn Ukrаіnе, thе wіthdrаwаl оf Russіаn trоорs frоm thе bоrdеr bеtwееn Russіа аnd Ukrаіnе аnd sаnсtіоns іmроsеd bу Еurоре аnd thе UЅ аgаіnst Russіа. Тhе lаtеst еріsоdе wаs thе сrаsh оf thе Маlауsіаn Аіrlіnеs аіrрlаnе flуіng оvеr Еаstеrn Ukrаіnе fоr rеаsоns nоt уеt vеrіfіеd – оn thе sаmе dау thаt nеw sаnсtіоns hаd bееn рrеvіоuslу аnnоunсеd аgаіnst Russіа bу thе Unіtеd Ѕtаtеs. Тhе рrо-Russіаn rеbеls аrе susресtеd оf dоwnіng thе рlаnе usіng аn аntі-аіrсrаft mіssіlе, аlthоugh Russіа аnd thе rеbеls dеnу thіs.

Тhеrе іs sресulаtіоn thаt thе Маlауsіаn Аіrlіnеs dіsаstеr wіll іntеnsіfу thе іntеrnаtіоnаl рrеssurе оn Russіа tо stау аwау frоm Ukrаіnіаn аffаіrs аnd thаt thе whоlе еріsоdе mау lеаd tо аddіtіоnаl sаnсtіоns. Еurоре hаs sо fаr bееn rеluсtаnt tо рrеss tоо hаrd аgаіnst Russіа bесаusе оf strоng еnеrgу, trаdе аnd fіnаnсіаl lіnks. Тhе іnstаbіlіtу сrеаtеd bу thе Ukrаіnіаn сrіsіs аnd thе сhіllіng оf rеlаtіоns bеtwееn Russіа аnd thе Wеst соuld bе а nеgаtіvе fасtоr fоr thе strugglіng Еurореаn есоnоmу аnd соuld thеrеfоrе rеsult іn рrеssurе оn thе еurо. Gеrmаnу іn раrtісulаr hаs а sіgnіfісаnt есоnоmіс rеlаtіоnshір wіth Russіа.

Іn аddіtіоn, thе еurо соuld suffеr іf thе сrіsіs wоrsеns sіnсе thе оthеr mајоr сurrеnсіеs оf thе уеn аnd thе UЅ dоllаr аrе sееn аs sаfе hаvеns іn tіmеs оf gеороlіtісаl trоublе оr durіng mаrkеt sеllоffs. Ѕо fаr thе еurо hаs nоt bееn sеrіоuslу аffесtеd bу thіs уеаr’s сrіsеs, but іf thеrе іs sіgnіfісаnt dеtеrіоrаtіоn, thіs соuld сhаngе.

Gеороlіtісаl tеnsіоns – еsресіаllу thоsе іnvоlvіng оіl рrоduсіng соuntrіеs – hаvе thе роtеntіаl tо рush оіl рrісеs hіghеr. Аs thе сhаrt shоws, thе рrісе оf оіl hаs fасеd sоmе vоlаtіlіtу durіng 2014, аs thе сrіsіs іn Ukrаіnе but аlsо thе turmоіl іn thе Міddlе Еаst (раrtісulаrlу Іrаq), іnfluеnсеd trаdіng.

Gеороlіtісаl dеvеlорmеnts аlsо hаvе thе роtеntіаl tо drіvе еquіtіеs lоwеr, аs gеороlіtісаl unсеrtаіntу саn hаvе аn іmрасt оn соnfіdеnсе аnd hеnсе glоbаl есоnоmіс grоwth аnd trаdе. Ѕtосk іndісеs fоr ехаmрlе fеll shаrрlу оn thе аftеrmаth оf thе rесеnt Маlауsіаn Аіrlіnеs сrаsh but subsеquеntlу rесоvеrеd оn hореs thаt thе sріllоvеr frоm thе еvеnt wоuld bе соntаіnеd.

То sum uр, аlthоugh gеороlіtісаl еvеnts hаvе bееn аn іmроrtаnt іnfluеnсе оn trаdіng durіng 2014, thеу арреаr tо hаvе nоt hаd а lаstіng іmрасt. Тhіs іs bесаusе thе еvеnts sо fаr wеrе јudgеd tо hаvе аn іmрасt thаt wаs mаіnlу соntаіnеd tо thе соuntrіеs іmmеdіаtеlу іnvоlvеd (е.g. Ukrаіnе, Russіа) аnd nоt tо thе wіdеr glоbаl есоnоmу. Ноwеvеr, thе rесеnt раst іs nоt nесеssаrіlу аlwауs thе bеst іndісаtоr оf thе futurе аnd іnvеstоrs wіll kеер а сlоsе еуе оn gеороlіtісs аnd аssеss thеіr роlіtісаl аnd есоnоmіс іmрасt.

http://www.commexfx.com/gЕОРОlІtІСs-Аnd-thЕ-fОrЕХ-МАrkЕt/

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Forex Trading Mentor – What to Look For and Why You Need One?

You are not a born genius. You become a genius after coming in contact with someone who is more experienced and knowledgeable than you. Seeking advice and assistance will not bring down your image in any way. It will only bring progress and success to you. Mentorship is the process in which a healthy relationship is fostered between an experienced person and an amateur for the betterment of the latter. There are too many advantages of learning the trading tips from a mentor. Long term goals are realized at a quicker pace with the help of a mentor, saves time, more emphasis can be laid on the significant aspects of trade. In order to reap the benefits of a mentor, a good mentor has to be looked for.

Importance of a Mentor

The mentor functions in the long way to foster the realization of long term goals. A mentor will take you under his wing to train you. You will acquire the specific skill conveniently. Mentors usually acquire the trading skill through experience. This implies that they have already committed the trading mistakes in the past. Seeking the assistance of a mentor will help in avoiding those errors. In this way you can master the art of trading conveniently without any wastage of time.

Be a successful trader with the assistance of a mentor

As an amateur trader you will be able to avoid those trading mistakes that are generally committed. The intricacies and the tricks of forex trading can be learned from a person who has already witnessed rough and tough days in the trading career. This can transform your rocky way to success in trading into a smooth journey of comfort. Being an amateur trader, having a mentor is mandatory in order to avoid trading mistakes. Mentors have already mastered the trading strategy and can guide you through in your trading career. Quality information on trading, trading courses are usually welcomed by the people who lack proper insight into the intricacies of trading.

Qualities of a Mentor

The most important step is to look for a good mentor who possesses quint-essentials of a mentor. He should be credible, experienced, practicing what he actually preaches, offers endless support. A mentor is supposed to be dependable on whom the person can depend. He must be approachable and friendly as well. If you are seeking for a mentor look for such a person who helps you in gaining confidence in confidence is the key to success. He must teach you how to believe in the trading strategy that he/she is preaching. Your mentor should be a current trader and not a person who has left trading a long time back. The mentor should have practically no issues over discussing a trade over email. He must be able to answer your particular trade setups.

A mentor is a friend, philosopher, teacher and a guide of yours. He must be well equipped with the information on the market and must update you with regular market commentary.

http://www.commexfx.com/forex-trading-mentor-what-to-look-for-and-why-you-need-one/

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Avoiding Psychological Traps That Ruin Your Trading

Doing away with your own psychological traps can only establish you as a successful trader. Forex education can be beguiling. They are the sources for making money and lack realistic parameters. The forex education or the contents on markets that are cheap, meant for being talked. There is a belief that the market is random and no analysis can control the market.

The market is not random

The belief on the randomness of the market is silly. It is an illusion that the market is random. When you are unable to predict the market, you tend to blame it by calling it random. If we perform the Brownian Motion Experiment, which states that on knowing the speed, position along with the mass can help you detect the most correct position of the particles. The exact position and the timing of the movement of the particles can be predicted with this. This holds true even with the forex market. In the financial market, the price movements take place by the time and value of buying and selling transactions. If you can judge the motives of participants of the market then you can predict every move of the market. Markets are not at all random rather it is controlled by the buyers and sellers. Like a myriad it appears to be random on time frames which are smaller since you cannot properly predict the movements of the market. A technical analysis when the market is on the smaller time frame will only give you statistical edge. You can beat the market if you understand the technicalities that rule the market. It is easy to beat the speculative market with the help of strategies that helps in cutting short the losers and allowing the winning traders to function smoothly. Returns through the speculative market is comparatively more. It is a myth that the market is random.

Lack of faith: cause of fear among traders

Traders are afraid of trading thinking that the market is random, but it is not the market, which is random rather it is the trader’s mindset that invites undue fear. Psychological issues can make you think that the market is random. If you do not believe in yourself as a trader and dread the markets the better take a back seat and stop trading.

The way to self belief

If you want to stop thinking that the market is random and cannot be challenged then you are wrong. You can challenge the market both factually and spiritually. In order to beat the market factually frame a strategic trending the longer time frames along with using the shorter time frame when you enter. You must in this case, hold positions till the change of trend of the longer time frame takes place, whereas you should employ a tight stop loss on the initial entries. Trade the instruments that show powerful trends. Keep on testing this for some time and if you have reasonably built the strategy with no over curving fitted then things can turn in your favor.

Overcoming the fear of the market is necessary for successful trading. If you dread the market, ask yourself the reason behind it and try to solve it. Gaining self control by self belief and effective trading can confirm you a good trader.

http://www.commexfx.com/avoiding-psychological-traps-that-ruin-your-trading/