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Category: Psychology

Forex Perfection? No thanks…

Posted in Psychology by Lewis Wolfe
Wednesday, October 29th, 2008 9:23 AM GMT

forex-perfection.jpgA lot of us are perfectionists, some of us are forex perfectionists – yep, probably fall into that category myself.
And where does our perfectionism get us? – we tend to be the ones slow into a trend. We don’t lose so often, we don’t get close to maximizing our trades.

So what to do?
There’s no point in going wild and completely throwing away all the caution that has kept us in the game up to now, that would be even sillier. It’s not simply a matter of a bit more courage and everything comes right – I’d rather have a bit of discipline than courage any day.
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How to complain successfully

Posted in Psychology by Lewis Wolfe
Friday, October 24th, 2008 8:33 AM GMT

or as successfully as it’s ever likely to get…

You’ve hit a problem – a trade hasn’t been filled properly, major slippage, they’ve made a margin call on you when you know they shouldn’t…

First, count to ten and try to calm down. If the situation is under control and if at all possible, give yourself ten minutes off, (make a cup of soothing herbal tea, yeah right).
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When to go from practice to a real Forex account?

Posted in Psychology by Lewis Wolfe
Monday, October 20th, 2008 7:14 AM GMT

forex-dive.jpgThere are a lot of wise words out there – don’t even think about it for 3 months, 6 months – well, most people’s patience doesn’t last that long.

If, and only if, you’ve put in the work to understand what’s going on with a practice account and you have that $250-500 that really can afford to kiss goodbye to, instantly if necessary, then go for it.
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Best Forex System in the World

Posted in Psychology by Lewis Wolfe
Friday, October 17th, 2008 13:43 PM GMT

The absolute best? Simple…

Always remember that you are using real money to invest in an essentially unregulated market.

Yes, we see ‘regulated by’ in all the fine print – this does mean may be regulated on a retroactive basis – something goes very wrong? Apologies will be made previous oversights, won’t happen again, we assure you, and the the long litigation will begin. You might see a 15cent in the dollar check after 6 years waiting.
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Betting on a Forex Elliott Wave

Posted in Psychology by Lewis Wolfe
Tuesday, October 14th, 2008 9:12 AM GMT

Here’s a 5-3 Elliott wave (maybe) in the wild – the pros would call it a subminuette, on a 1 hour chart, range of 40 pips.

forex-elliot-wave.gif

Is it an Elliott wave? Sure looks a bit like one should look.
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