subject: Fx Trading Station For Mac - The Three Golden Rules of Day Trading Forex Currency [print this page] Fx Trading Station For Mac Forex day trading can be full of stress and forex traders require much more than just a good trading plan and day trading forex currency system to see it through. If you visit popular forums based around the foreign exchange business this will be made abundantly clear to you and if you become a member of an established currency discussion board it will be made even clearer. The most common thread that I know of is, why do some traders make plenty of money and others make hardly any profits. It can seem ridiculous, until you begin to understand, that more often than not the individuals good fortune is more about the individual skill sets and psychological frame of mind that the person possesses rather than the trading system that they utilise. Therefore, rather than just focussing on forex day trading systems which each have their own particular idiosyncrasies, in addition to both disadvantages and advantages, in this commentary I will reveal what else can be done whilst carrying out forex day trading that will improve your performances as a day trading forex currency trader. 1. Foreign Exchange Forums Browsing A good time filler whilst you are waiting for a potential trade to develop is to browse a popular currency trading forum such as Forex Factory. This will take your mind off of any trade in hand and reduce the stress in waiting for it to pan out, a caveat to this is that you must have alarms in place that will trigger and alert you when the trade or potential trade reaches a critical point, otherwise you will always be worried about looking at your trading charts and as a consequence you will not be able to relax and get any good points from browsing the forum. The other useful thing is that forums can provide a sort of camaraderie amongst fellow traders. Day trading forex currency can be a very lonely existence, quite often your friends and relatives cannot relate to what you are doing, so having like minded people on tap at the FX Forum to share ideas and trading tips can be very rewarding, as well as keeping you abreast of developments in the forex world. It is also a bit like having a chat with work colleagues at the water cooler or coffee machine albeit in a virtual state. Fx Trading Station For Mac On of the things to remember is that as forums are such affable, friendly places you do not want to spend too long on them, chatting or browsing through historical discussion threads otherwise you will not get any trading done at all! 2. Taking Breaks This is very important and what I mean about this is, taking a break from the PC or Mac. Browsing forums will give you a break from trading but you will need to take physical breaks from the computer monitor or monitors, depending upon how you have set up your work station. Some people recommend taking a break every 50 minutes but I take a break after 25 minutes. I set a timer on my iPhone that goes off after 25 minutes, other people I know use a kitchen timer or their watch timer, but in any event the thing sets off an alarm and I then go and get a coffee or drink of water or go for quick stroll around the garden or back yard as I am fortunate to work based at home. It is also important to do something physical like athletic stretches or if you are very enthusiastic jogging on the spot is highly recommended. This will get the blood circulating faster and as a consequence make you more alert. Some people stretch their eyes, now what I mean about that is that they change the focal length of what they have been looking at from a computer screen distance to a farther away distance and so on. This exercises the eyes and can reduce eye strain, I know my eyes sometimes feel as though they are popping out on stalks if I do not take a break from my computer screens and day trading forex currency. If you are in the middle of a trade and quite understandably you do not want to leave the screen, then make sure that when that trade either closes out or stops out that you take your break at that point, otherwise you will end up exhausted and stressed out. 3. Forex Trading News Calendars The first thing I do after firing up the PC and loading my trading platform is to go to a web based forex day trading calendar, I use Forex Factory because it gives me the information that I want and it is also free, and I check the scheduled announcements of the day. In this particular calendar you are able to filter the results you want by currency pairs and by strength of announcement. I tend to only worry about high and medium impact news items and will not enter a trade within 45 minutes of such an announcement being made as the news item can make the markets go haywire for a while and wipe out my trade or indeed propel it to wondrous profits, but the point I am making is that at these times the day trading forex currency market is even more unpredictable and whilst we want volatility to make the markets move we do not want violent reactions. Fx Trading Station For Mac
Fx Trading Station For Mac - The Three Golden Rules of Day Trading Forex Currency
