An anecdote from the prop desk: The unprepared trader

Often new traders think they are prepared to trade when they aren’t.  They think they have done the sufficient preparation to trade and the market truth is that they haven’t. Traders who we have trained from scratch to consistently profitable have always met the market definition of prepared.  Those who have underperformed have met their definition of prepared but not … Read More

Addressing the Trader’s Fear of Missing Out

One of the more entertaining things I hear out of forex traders that I talk to is, “I can’t believe I missed that 40-pip move! I left so much money on the table!”. My question is whose table did you leave that money on? What’s even funnier is when traders claim they’re losing money because they’re missing nice moves. This … Read More

Forex: The Professional Trader is the Prepared Trader

When you turn on your computer each morning and you look at your favorite forex pairs, can you tell me exactly what levels you are most interested in taking action on? Can you give me a good argument as to why you would be looking for longs or shorts at these particular prices? If you can’t answer these two questions … Read More