Truth About FX

"Once it broke outside of those bands, and I’m talking about the bands where when it was tight because obviously the bands open up as soon as it starts moving. But, as soon as it broke higher or lower than that restricted range, you would just go in..." The post EP191: Have you ever tested strategies using Bollinger Bands? appeared first on Truth About Forex Trading Podcast.

"You can move in and out of the markets much more easily than these big players can and so what that means is that it's easy for you to ride the elephant’s back and go with it. That is one thing that I would point out. " The post EP190: Volume-based trading strategies: Do they really work? appeared first on Truth About Forex Trading Podcast.

"Because it’s really a timing issue, right? The formation like the kangaroo tails is just a matter of timing." The post EP189: Backtesting Your Broker’s Data for Live Account appeared first on Truth About Forex Trading Podcast.

"I talked about this idea of market biofeedback which is the market -- I wrote about it in the Naked Forex, infact. This idea that the market gives you information and then what you do with that information because it’s really difficult when you’re in a trade to be totally and completely take no side..." The post EP188: Is Real-time Biofeedback Beneficial for Traders? appeared first on Truth About Forex Trading Podcast.

I think what one sort of resilience skill that a lot of people can take from this is this idea of reframing it and looking at it for what it is. And so, if you have for example four-week losing streak, you don’t have to catastrophize and say that this guys is falling and you just look at it for what it is. “Okay, I’ve had four weeks losing streak"... The post EP187: Why You Should be Resilient in Your Trading appeared first on Truth About Forex Trading Podcast.

There are people that will tell you it’s impossible to make 1% a week trading. There are other people that are doing much better than that, every week trading. That’s it. Trying to set your expectations based on what somebody else tells you, it’s not good and that’s sad because we’re actually brainwashed from a young age to do that... The post EP186: 3 Things You Wish You Knew Before Becoming a Trader appeared first on Truth About Forex Trading Podcast.

"We’ve all been there. As traders, we are all quite familiar with this. The key here really is to start with your beliefs and build confidence. If you can do those two things, you are going to be alright..." The post EP185: How to Stick to Your System appeared first on Truth About Forex Trading Podcast.

"It is really going to depend on what makes sense to you. Most traders like to find those reversals and so in that case, the webby and the moolah, double top, the double bottom might be better..." The post EP184: How to Find a System that Fits Your Lifestyle appeared first on Truth About Forex Trading Podcast.

"You just have to find the right one that offers the right leverage and spread combination and you feel comfortable with it. That’s where your testing really comes in..." The post EP183: How Do CFDs Work? appeared first on Truth About Forex Trading Podcast.

"Profit Bricks can penalize you if you use a trailing exit and you just get unlucky and your second winning trades are not as fat as the first ones..." The post EP182: How does the Profit Bricks Method Work appeared first on Truth About Forex Trading Podcast.

"What you really wanted to do is get an uncorrelated strategy or what we call a complimentary strategy..." The post EP181: Trading Acceleration: Is it Good or Bad? appeared first on Truth About Forex Trading Podcast.

"It’s amazing how much those $6 lattes add to the expenses every month. Do you know what I mean? If you have all these crazy things, you know how it works. You don’t necessarily need to buy those new shoes or those peppermint lattes at Starbucks or whatever they’re selling this month..." The post EP180: How to Build Your Trading Account While on a Budget appeared first on Truth About Forex Trading Podcast.

"There are different ways of doing it. If you feel like you really have to trade the lower time frames then it sounds like you’re a great candidate for automation. Otherwise, I would just focus on a higher time frame..." The post EP179: Trading while Working: How do I trade the USD/GBP appeared first on Truth About Forex Trading Podcast.

"What matters is you’ve made those 3 steps to trade a system that you believe in on a live account. And so, everyone gets impatient. Everyone gets upset and wishes that it happened last year. I get it but the only way you’re really going to make progress is to do two things..." The post EP178: What’s the Best Start-up Hack? appeared first on Truth About Forex Trading Podcast.

"If you go back and look, you’ll see that some years it trends quite well and the market really moves. Other years,it just kind of moves around and I know people think that they just expect it not to move very much because people are on holiday. People aren’t really getting into it and there isn't enough full stable of traders and all that sort of things." The post EP177: Should I Take A Summer Break? appeared first on Truth About Forex Trading Podcast.

"I’m a big fan of a simply just taking and this is something that I’ve been testing and it’s been going quite well just taking, looking at trades -- individual trades -- and looking at them in blocks so the risk per trade actually becomes risk per block..." The post EP176: How to Increase Your Returns appeared first on Truth About Forex Trading Podcast.

"What I would do is just pull that Fib grid across and see if any of those levels lined up with support and resistance. And maybe like the 38.2 or whatever it is lines up with a nice support level and it’s a bullish breakout..." The post EP175: What is the Best Way to Trade Fibonacci appeared first on Truth About Forex Trading Podcast.

"I know it seems kind of weird to reward yourself after a losing trade and you have to remember that you’re just moving the focus to what’s important which is the execution. The wins and losses, distribution of wins and losses doesn’t matter..." The post EP174: Rewarding: Does this Improve Your Trading? appeared first on Truth About Forex Trading Podcast.

"What are the chances of an inexperienced retail trader doing well? Furthermore, most of the traders make use of a mix of fundamental, sentiment and technical analysis to create bigger trades. Aside from the liquidity advantage, is it really possible for you to, for retail traders to profit using pure price action techniques? It’s a lot..." The post EP173: Can Retail Traders Profit Using Naked Trading? appeared first on Truth About Forex Trading Podcast.

'If tapping doesn’t make sense or you don’t want to talk about your journal and write it out, talk about how you have no control. All the control you have is using your strategy, taking the right trade at the right time..." The post EP172: Medicating the Negative Impact of Losing Trades Through Psychology appeared first on Truth About Forex Trading Podcast.

"Let’s say you’re doing something on the Swissie. You will just filter out all of the Swiss news and you can set the date there back to whenever - to how far you want to go back and capture..." The post EP171: How To Backtest A News-Based Trading Strategy appeared first on Truth About Forex Trading Podcast.

"You can turn that into a technical chart where you draw all these multiple trendlines, it’s going to collapse and it’s going to come down really hard on the other direction. That’s a concrete example of what is a technical analysis has tapped into. It could just tapped into basic fear and greed stuff that we deal with in the market..." The post EP170: Does Technical Analysis Ever Stop Working? appeared first on Truth About Forex Trading Podcast.

"What you need to do is come up with a number of trades that you need to have sort of bank in your account so that you are able to withstand one a drawdown..." The post EP169: What are the “Rules” in Compounding Accounts? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter digs in the idea about how your intuition as a trader – and as a human being – affects your trading decisions. He also gives a brief on this interesting book that can help you understand the role of intuition. And did you know there is a... The post EP168: How Much Should Intuition Affect Your Trading? appeared first on Truth About Forex Trading Podcast.

"What happens if my broker goes bust? What happens if something happens overnight, my position gets stopped out? Those are the sorts of things and maybe meditation would help..." The post EP167: Activities That Can Help You Become A Better Trader appeared first on Truth About Forex Trading Podcast.

Walter talks about becoming a successful forex signal provider. What are the things you should keep in mind and do you have the right outlook to pursue it? According to him, the're an easy trick to help you attract subscribers and give you the edge. There's also this very easy to use tool that can help you set-u risk parameters... And who is this signals-guy Walter is talking about and how you can learn a thing or two in finding your niche. The post EP166: How to Become a Successful Signal Provider appeared first on Truth About Forex Trading Podcast.

“Now, what we want you to do is qualify and show us that you’re a good enough trader. Once you do, we’re going to give you a little chunk of money to trade. We will keep most of the profits that we make on this little chunk of money and you get to keep some of it”. The post EP165: What is Prop Trading? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter gives some insider information on how can YOU become a hedge fund trader – there’s two ways: one involves some drinks and the other a laptop. And is this really a job for everyone or just a specific type of trader? Walter shares his personal experience and... The post EP164: What’s the Best Way to be a Hedge Fund Trader? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter dives into the fear of missing out and where it is coming from. He talks about the psychology behind this and why most traders get lured into this trap. He also shares a good reference to combat this and how traders are lions. Download (Duration: 06:21 / 15.3... The post EP163: Fear of Missing Out: Where is this Coming From? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter digs into support and resistance zones and how far should you go back on your trading history to get the most accurate data. According to him, it all boils down to answering this two questions: what is your point of view?; and what are your beliefs? He... The post EP162: How Far Should You Go Back with Zones History? appeared first on Truth About Forex Trading Podcast.

If you already backtest the system, you can add a few more pairs. Make sure that your system works on those pairs and then just add them to your arsenal. That’s kind of my recommendation... The post EP161: What If There’s Not Enough Trades? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth ABout FX, Walter exposes some insider trading psychology techniques to help you focus on your goals. What are these two steps to profitable trading? And how can you effectively apply this to your own strategy. You would also know what the biggest difference between a successful trader and the gambler... The post EP160: What’s the Best Psychology Technique? appeared first on Truth About Forex Trading Podcast.

Walter spills the beans on the best kept secret -- or not really -- on where to find the haven of streamline info. He shares a memory when he was writing the book and how this made him realize one big fact about all traders. And did you know that trading is like dating?... The post EP159: Where Can You Find Those Streamline Info? appeared first on Truth About Forex Trading Podcast.

Did you know that trading is like growing a child? Walter breaks the code of a noob's principle that you should learn multiple systems at once. According to him, it is always better to focus on one system as you progress through your trading... The post EP158: Should Beginners Study Multiple Trading Systems? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter spill the beans on the million dollar question: how do you know when a trend ends? And what should you do? According to him, you never really know. BUT, you can follow the retracement. He lets out some key point on how to spot a good retracement... The post EP157: How to Tell When a Trend has Ended appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter gives two key points on how you can improve your trading habits and thus get better results from a psychology point of view. According to him ,it is always useful to get into the habit of writing your own journal. He also talks about how a hypnotherapist... The post EP156: How to Improve Your Trading Habits appeared first on Truth About Forex Trading Podcast.

Can you really move the market? In this episode of Truth About FX, Walter shares his perspective on how little volume it would take to actually move a market. He shares a story about a friend who used to work for a hedge fund and how they — the company — could shake the market.... The post EP155: Can The Forex Market Be Controlled? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter gives light as to how forex rebates work and whether you can actually benefit from this. He shares some insider information on the real story behind this, how will you know a legit broker and how the system works . How do brokers work? Is there really... The post EP154: How Do Forex Rebates Work? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter digs into cryptocurrencies — is this legit or a big scam? He tackles the issues that surround this why he doesn’t like to trade stocks. He gives some useful insights on how you can minimize risks and gaps should you decide to trade these. And is it... The post EP153: Cryptocurrencies – Scam or Deal? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter gives light on the best ways to better understand Japanese candlestick patterns. He shares some useful books and tips for those who want to trade the Yen. He also shares his personal experience and what he thinks of this trade. Download (Duration: 03:39 / 4.4 MB) In This... The post EP152: How To Understand Japanese Candlesticks Better appeared first on Truth About Forex Trading Podcast.

Is it really your strategy that’s trapping you or is it all in your head? In this episode of Truth About FX, Walters lets out some insider information on some of the best mindset tools that you can use — and where you can find them. Walter will also tell you what each one is... The post EP151: The Best Mindset Tools: What Are They? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter spills the beans on the best way to keep track of your system and beliefs. How will you know if you’ve found “the one”? Walter lets out a three-part process that has helped him stick to his system that involves reducing risk, avoiding drawdowns, and improving your... The post EP150: The 3-Part Method for Sticking to a Trading Strategy appeared first on Truth About Forex Trading Podcast.

What’s the best way to know your broker? In this episode of Truth About FX, Walter digs into the most common red flags forex traders should avoid. He gives some useful hints on where to look for the “best” brokers — and the reason why they stay at certain places — and how do you... The post EP149: Which Red Flags Should You Avoid appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter gives light on the importance of backtesting… But what if you don’t have enough data? He talks on why statistics is important and how this can help you see results even if you don’t have enough data. According to Walter, it all boils down to being confident... The post EP148: Why Is Backtesting Important? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter talks about the Psychology of Trading and overcoming fear. Why is it important to have confidence in your trading and how can you overcome this barrier? He lets out some insider notes on how you can buildup your confidence and make this your trading edge. Download (Duration: 04:18... The post EP147: How Do You Build Your Confidence? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter dives into price action and drawing support and resistant lines correctly. He talks about scalping. And did you know that there’s a simple way of identifying support and resistant zones? Download (Duration: 07:34 / 8.7 MB) In This Episode: 00:29 – losing more 02:03 – focus 03:12 –... The post EP146: How To Draw Support And Resistance Lines Correctly? appeared first on Truth About Forex Trading Podcast.

Do you know what type of trader are you? In this episode of Truth About FX, Walter dives into creating your own strategies and why copying from the “gurus” might be your biggest mistake. He digs into understanding your risk profile, the Cycle of Doom, and building up your confidence. Download (Duration: 07:34 / 8.7 MB)... The post EP145: Should You Copy The Gurus? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter tackles one of the biggest trading barriers: financial disadvantage. Should finding good trading resources be expensive? According to Walter, it shouldn’t be… Actually, the best trading education is available for FREE. He also talks about some useful tips that will help you set your risk per trade... The post EP144: The Key To Trading Success appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter digs into the psychology on why demo trading is more profitable than live accounts. He shares how “desensitizing” yourself can help you overcome your trading fears…And how keeping a journal can bring you one step closer into correctly executing your trades and bringing in the profits. Download (Duration:... The post EP143: Why Is Paper Trading More “Profitable”? appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter talks about the impulse control and the psychology of overcoming this trading barrier. He shares some cognitive tricks that can help you work on your trading impulses. He also lets some other tricks off his sleeves on how you can work around your trading discipline and manage... The post EP142: How to Control Your Impulses appeared first on Truth About Forex Trading Podcast.

In this episode of Truth About FX, Walter talks about the impulse control and the psychology of overcoming this trading barrier. He shares some cognitive tricks that can help you work on your trading impulses. He also lets some other tricks off his sleeves on how you can work around your trading discipline and manage... The post EP141: Overcoming The Lack Of Discipline appeared first on Truth About Forex Trading Podcast.