Why you should not feel too bad about having a losing streak
Trading is a lifelong journey, frankly, if you ask me. Okay?Even if you become profitable and proficient, let's say one year down the road, two years down the road, doesn't mean that you can just continue to just blindly apply what you do and expect to make money...
Edmund C. Lee, the President and CEO of the Caylum Trading Institute, a premiere educational facility in the Philippines that aims to develop successful traders of global markets.
TRADER PROFILE: Today’s guest, Edmund Lee, is the President and CEO of the Caylum Trading Institute, a premiere educational facility in the Philippines that aims to develop successful traders of global markets. He is a Chartered Financial Analyst (CFA), a graduate of...
The risk of trading multiple highly correlated currency pairs
You long Pounds/USD and you long Euro/USD as well. So, they are going to be pretty similar, right, the way they move?Yeah. So, if let's say something bad happens, then both of them might hit your stop loss at the same time. So, effectively you're actually taking on...
Is it viable for a discretionary chart trader to do back-testing on his strategy
Unless you are a systematic trader or algorithm trader, then backtesting is crucial because you are trying to apply a generous sets of parameters across different instruments. So, that will allow you to backtest effectively and it is essential to backtestBut as a...
How you can have two different profit-taking exits for a single trade idea
Generally when you are using two profit targets, right? Okay, it's because you want to firstly protect the capital that you risk in this trade.That's why you have a TP1, to make sure you protect those capital first. Then a TP2 mainly is one to maximize your returns....
Why it is so important to have a trading plan and follow it with discipline
You don't have control over where the price is going to turn. You don't have control whether it's going to be a profitable trade or not.So the only thing you can control is that you follow your plan. But if you think that you will want to get out before the price...
