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Trading profits flow from the right expectations

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By David Hobart, Director, PsyQuation Consulting. Quite often traders lose money in the markets simply because they have unrealistic expectations about their likely returns. Even the best trading systems and strategies if not given adequate time and space to... Read more


Attachment and the ego

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By David Hobart, Director, PsyQuation Consulting. Trading consistently is not about prediction. Rather, it is about identifying possible outcomes, assigning probabilities to them, and then structuring bets around those probabilities. Having a process which co... Read more


Overtrading

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I am sure you have experienced the desire to trade for some excitement. You are feeling a little flat and you want to spice up your day, so you place a trade. Alternatively, I am sure you have experienced the feeling that you are on a hot streak and you want t... Read more


Sage Advice

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This is probably the most basic piece of advice I can give but I also think one of our best. Brazilian Spread We have noticed in our data that when a trader gets past a certain threshold of drawdown the prospects of recovering becomes statistically improbable.... Read more


Martingale Drug

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Let me introduce you to one of the most intoxicating drugs on the trading scene with a particular emphasis on the forex industry. I am not going to bore you with the mathematical details why you are doomed to trade a martingale strategy simply a trading strat... Read more


Endowment Effect Solutions

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A hat tip to friend Denise Shul, a leading neuro scientist and trading coach in New York, for pointing out a recent academic research paper which I will be commenting on in this letter. I am sure we can all agree that when we buy something for say $10, we are... Read more


Mental Accounting Bias Example – The Man in the Green Bathrobe

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Professor Richard Thaler is one of the leading figures in the Behavioural Finance academic world and has been credited with the term “Mental Accounting”. Here is one of my favourite mental accounting bias examples used to describe what is a very common situati... Read more


How to manage the tension between fear and greed

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Learning how to manage the tension between fear and greed is a necessary skill for traders. But not many traders have been able to master this skill. Extreme emotions bring out tension I am writing this letter in a coffee shop, sitting opposite a man in his 20... Read more


Do You Know the Most Profitable Hour for Traders

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Have you ever wondered what is the most profitable hour for traders? And if there is such an hour, why are traders not trading during that time? We thought you might find it interesting to see a breakdown of when traders trade the most and when they are most ... Read more


Is the Weekend More Profitable Time to Trade?

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Have you ever wondered what holding a forex position over a weekend does to your return profile. Major news events often occur over the weekend when markets are closed. And this can cause big movements to occur when the markets reopen, and with the higher lev... Read more


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