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Confirmation Bias in Forex Trading

Though many of us may not realise it, our brains are actually wired to favor information that is aligned or favours our beliefs or theories. In forex trading, this is referred to as confirmation bias, a type of selective perception that causes one to actively seek out and assign more weight to evidence that confirms their hypothesis, and ignoring evidence that could disconfirm their hypothesis.

Regret Aversion Bias

Regret Aversion Bias can be simply put as the tendency to avoid making decision due to the fear of experiencing the pain of regrets. People exhibiting regret aversion avoid taking decisive actions because they fear that, in hindsight, whatever course they select will prove less than optimal.

Know When to Leave a Position

One problem many traders encounter is staying too long in a profitable position that they don’t realize when the tide turns and the downward trend begins. There may be reasons why a trader can overstay in a position until it becomes too late or unprofitable.

Are You Trading Forex Trading to Generate Income, or to Generate Wealth?

The Forex Market is one that offers traders great profit potential; if handled incorrectly, however, the market can also produce elevated losses. In light of this, what is the best possible strategy to implement in your Forex system so that profits can be maximized and losses minimized? The answer to this question is that it will depend; a strategy that works for one person will not necessarily work for another, and the reason for this is that people have different expectations when they engage in Forex trading.

Forex Trading Can Make You Rich in 2013 If Done Properly

Forex trading can be a very important business move you can make in 2013. It involves the buying and selling of different foreign currencies for profit. Trading is usually done through a broker and is carried out in currency pairs. There are basic principles you must understand that will help you achieve success. It can seem a bit confusing as to where you need to begin. The tips here can help you make sense of the confusion to start making money like a professional.

Day Trading Strategies For Beginners – Understanding The Market

A day trader is someone who makes all his/her Forex trades within the same day and does not leave an overnight position. The day trader makes many buys and sells each day and rarely trades across time zones except on the occasions like when the American day trader’s morning session coincides with the European afternoon trading session. Day traders operate on the concept of using fundamental and technical analysis to make many trades and generate income on a daily basis. For beginning day traders one should develop a simple strategy with a reasonable risk-reward ratio.

Traders Elite: Make Outrageous Profits in Forex

Forex Trading, besides bringing in a steady income is now becoming a profitable work from home business. Yet, beginners with vast experience in other forms of trading are somewhat uncertain as to how to go about it. It is not only a matter of putting to risk large sums of money but due to a certain lack of confidence and expertise required in this trade.

Take Advantage Of Varying Currency Exchange Rates And Make Money With Foreign Exchange

Don’t let your emotions factor into your Foreign Exchange trading strategies. You can’t get upset when you lose money and you shouldn’t get cocky when you gain money. Try to keep a level head at all times and make every decision based on the math, the market, and your gut.

Should I Trade Forex or Stocks?

There are a number of reasons that someone would choose to trade in the forex market vs the stock market. Not the least of which is the simplification of choices.

Are There Any Forex Trading Strategies That Work?

As you know by now, all Forex trading strategies that work have nothing to do with emotion. Set some rules which you will follow religiously, but be prepared to change them if the results yielded are not satisfactory.

Why Should I Make Use Of Automatic Forex Trading Systems?

If I am able to trade on my own, why should I turn to automatic Forex trading? With the help of automated trading programs, you have one or both of these options open to you.

Forex: Auto Trading Or Manual Trading?

One question that beginners make online all the time is if they should use auto trading or manual trading. The best answer is that you should use both trading methods to achieve maximum profits. There are market conditions that suit auto trading the best and other market conditions (such as the release of news events) that suits manual trading the best.

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