When I was at university, I had a friend who was really into horse racing.
Some days when I was procrastinating from my uni work, I’d join him and go down to the bookies. He’d stand there watching the TVs and bet on the various horse races.
Most of the time he was betting on an outside bet and only occasionally on the favourite, and it was never just based on the funniest sounding name like my bets were!
So I asked him what his process was. …
In 1997, a study was conducted on taxi drivers in New York and it uncovered some very irrational behaviour.
On rainy days, the demand for taxis was much higher than usual, as you’d expect. Yet, the supply of taxis was much lower than on a typical day.
On the other hand, when the weather was good, demand for taxis was lower as people were happier to take a walk. But during these times, the supply of taxis was much higher than usual.
This strange situation raised some questions. Why were there fewer taxis on the road when they were in…
Have you ever said to yourself, “it’s only a small trade, it doesn’t matter”?
If you answered yes, give yourself a slap on the wrist because this statement is wrong!
Every trade you make matters.
When you risk a smaller amount than you usually do, it feels like you can justify it not having to fit your trading system. If it loses you don’t really care.
This relates to a cognitive bias that we all have, the contrast effect. But as traders, we need to battle against cognitive biases as much as possible.
The truth is, the most important trade…
The work by Dr. Carol Dweck has found that there are two types of mindset, the fixed mindset and the growth mindset.
In a fixed mindset, people believe their basic qualities, like their intelligence or talent, are fixed traits. They spend their time documenting their intelligence or talents instead of developing them. As a result of this, failures become a personal reflection of their level of talent, rather than an area of potential development.
With a growth mindset, people believe that their abilities can be developed through dedication and hard work. This leads to enjoyment in learning and a resilience…
Most traders and people learning to trade have trading goals. That’s a good thing because goals are very important.
However, the problem in most cases is that these goals have no practical purpose other than sounding fairly motivational.
The issue comes down to how we set our goals in the first place. A lot of the time, our goals just become one big wish list. After all, if you’re going to choose something that you want to achieve in your life, you might as well go big or go home!
Unfortunately, these goals often just become a source of guilt…
When you first start trading, it’s always exciting to get involved in the live markets. You want to see what’s happening in real-time and react to the twists and turns of the price movements at the same time as countless other traders around the world.
However, while you’re in your development phase, live trading is often not the best thing to be focusing on. Instead, we can achieve many of our goals much more effectively and efficiently by using historical data.
Of course, the live markets can’t be entirely replaced in your development. You will need them for experiencing the…
Negotiations this week seem to have concluded with a bang. One of the members of the EU negotiation team tested positive for COVID, which called an end to the higher level of negotiations.
This means Monday will supposedly be a critical day. According to EU officials, that will be the deadline for an agreement to be made if the deal is to be translated and ratified before the end of the year.
But, in typical Brexit fashion, they are already finding a way to push the deadline back and kick the can down the road even further. They are now…
It’s crunch time! Another week, another Brexit deadline looming.
I’m sure you’ve heard this before, but this seems to be the final week to get an agreement done between the UK and the EU. Although it seems any time there’s a deadline it only gets missed anyway, so who knows if this one will actually force some progress to be made.
Either way, I’m sure we can expect the markets to respond to whatever happens this week. So let’s discuss the situation and take a look at what opportunities may be out there for GBP/USD.
Let’s start with why this…
Although all eyes are on the US election today, it’s been a pretty eventful day for Australia as well.
There have been policy decisions from the Reserve Bank and some news on the trade tensions with China. Let’s take a look at what’s happened and what this means for the Aussie dollar.
Let’s start off with a run-through of what the Reserve Bank of Australia (RBA) announced before we take a look at the markets.
The main news from the RBA is that they’re cutting rates from 0.25% to 0.10% …
Benjamin Graham, the father of value investing, is said to have stated that in the short run the market is a voting machine, but in the long run, it is a weighing machine.
It means, in the short term the price of a company may be dictated by its popularity in the market but over the long term the price will be more in line with the actual value of the company.
The difference between the voting machine and the weighing machine also dictates how investors should be planning their own investing strategy. …
We provide the trading development platform that enables you to learn to trade, analyse your performance and apply insights to upgrade your potential.