A failed trade that a trader closed or was stopped out of.
A number of currency units used to place a buy or sell position. View micro, mini, and standard lot. Also view contract size.
What you are essentially willing to lose on your account when actively placing a trade.
Properly maintaining discipline within your trading and knowing how to manage your trades with little to no risk to your account overall.
BeginnerEarly Stages for Beginners8 Topics
Forex Terminology11 Topics
- Major and Minor Currency Pairs
- Basic Forex Terminology
- Pips & Ticks
- The Broker & The Spread
- What is a Lot?
- Stop Loss & Take Profit
- Margin & Leverage
- Retracement & Reversal
- When Can I Trade Forex? Sessions - Market Open and Close
- 3 Types of Analysis (Technical, Fundamental, Sentiment)
- 3 Ways a Market Can Go (Up, Down, Sideways)
Margin & Leverage2 Topics
IntermediateIdentifying Scams2 Topics
Brokers for Beginners5 Topics
Technical Analysis13 Topics
- Types of Charts
- Understanding Japanese Candlesticks
- Candlestick Patterns For Beginners
- Single, Double & Triple Candlestick Patterns
- Support and Resistance
- Confluences w/ Candlesticks & Support & Resistance
- Counter Trend Trading/ Counter Trend Lines
- Moving Average
- Top-Down Analysis
- Consolidation Trading (Breakout, Retest, Continuation)
AdvancedUsing Indicators6 Topics
Technical Analysis (Part 2)8 Topics
Market Structure5 Topics
Fundamental Analysis9 Topics
CompletionRisk Management for Beginners8 Topics
Psychology for Beginners7 Topics
Personal Psychology Questions2 Topics
Thinking of Every Scenario Before Entering a Trade
Preparing yourself for the outcome of a trade is crucial to maintaining your emotions before, during, and after. You want to think of every scenario before placing a trade so that once it is placed, you can allow it to do whatever it’s going to do. Ask yourself questions like these before you enter into any trade:
- What percentage of my account am I willing to risk?
- Am I okay with the lot size I’ll be using?
- What happens if I lose this trade? Can I stomach that loss?
- Will I still be able to get into another trade while this one is running?
- How long am I willing to hold this trade for?
- Will I be holding this trade if a major news announcement comes out?