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Addicted to Action

16 June 2015 by Trade With Precision in Article Education Psychology

It takes wisdom and self-control to resist taking trades that aren’t the best fit for your trading strategy. Especially if you have not traded for a while. Sometimes the temptation to trade for the sake of trading can be so great that you end up taking shortcuts or miss glaring red-flags on a potential trade set up. Being addicted to action clouds your judgement and is detrimental to your long-term success. What can you do to overcome the urge to jump right in?

WHY are You Trading?

4 June 2015 by Trade With Precision in Article Education Psychology

There are many reasons why people aspire to master the art of trading. For some, it is the appeal of financial freedom. Others may have grown tired of the daily grind and like the idea of being their own boss.  Whatever it is, it is important that your reason is compelling enough to help you stay focused as you learn and improve your trading skills. In this post, we discuss why it is important to know “WHY” you’re trading, and also look at some of the common “WHY”s shared by traders who have achieved lasting trading success.

How Much Capital do You Really Need to Begin Trading?

26 May 2015 by Trade With Precision in Article Education Psychology

In our experience working with thousands of traders worldwide, it is surprising how often we get asked this question! While we do not have a specific amount that works for everyone (it varies from trader to trader), it is interesting to delve deeper and look at the emotions in play that cause so many to be hung up on this one particular issue. You need to address these emotions before you can decide on the amount of capital suitable for you.

Trading Property vs Trading Currencies

17 May 2015 by Trade With Precision in Article Forex Education Psychology

Lay off the bricks and mortar people, it’s time to look seriously at why you should be trading foreign exchange instead. Kiwis have always had a love affair with property, but new measures introduced by the RBNZ last Wednesday will soon make it harder for property investors to trade property within the Auckland region. Take it from this “reformed” property investor that the days of easy money on property are over, and trading property is now a game best left to those with deep pockets.

So if your pockets aren’t as deep, what other options are there for you?

Trading as a Business: Part 2

11 May 2015 by Trade With Precision in Article Education Psychology

Following on from Part 1, now that we understand the mindset involved in trading full-time let’s delve a little deeper into the strategy side of things. Besides having a business owner’s mindset, you will also need to adopt a trading strategy.  A “strategy” is simply a fancy word for having a plan of action that shows how you are going to achieve a long-term goal, which in this case is an ongoing and profitable trading business. What are some of the factors professional traders might consider when creating their trading strategy?

Trading as a Business: Part 1

30 April 2015 by Trade With Precision in Article Education Psychology

Successful traders regardless of age, ethnicity or gender share a common trait; that is they all see their trading as a business. Unlike people who come into trading looking for the Holy Grail or a way to get-rich-quick, successful traders are in for the long run. They see and do things differently, and it comes as no surprise that they are still trading profitably when the masses crash and burn.

Staying In The Right Frame of Mind

27 April 2015 by Trade With Precision in Article Education Psychology

One of the challenges faced by both professional and aspiring traders alike is staying in the right frame of mind when trading. In our last article we spoke about the importance of timing, and like poorly timed trades, other factors in life can also adversely affect your trading if you do not have a plan to handle them.

The Importance of Timing

22 April 2015 by Trade With Precision in Article Education Psychology

In trading, timing is everything. As you scan the market looking for opportunities that fit your trading strategy, it can be tempting to do one of two things, both of which are highly detrimental to your long term trading success. It is important to wait for the right timing, simply because this develops discipline and improves your ability to trade methodically.

3 Simple Ways to Improve Your Trading Results

15 April 2015 by Trade With Precision in Article Education Psychology

As professional traders we often get asked to share our experiences from when we first started trading. This is a common request and we are happy to share what we have learnt since almost everyone we encounter wants to avoid amateur-ish mistakes. However, just as you can’t fly a plane after listening to a pilot talk about flying, it is unrealistic to expect that you will be able to trade like a pro right from the get go simply by listening to a professional trader talk about trading.

Charts of Interest: EURUSD & NZDJPY

10 April 2015 by Trade With Precision in Article Forex Stalking Education Market Commentary

Well we are approaching the end of the week, however there’s still plenty of trading left to be done. The markets have shown some really nice looking charts this week and we thought we would take you through two that are of interest.  

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