Mindblown: a blog about philosophy.
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Forex Broker Scams
Watch out for forex broker scams! Believe it or not, there are some brokers who “cheat” their clients. One way they do so is by manipulating bid/ask spreads. Normal spreads between brokers would be around 2-3 pips but scammers would have spreads around 7-8 pips. Seven pips might not seem like a lot, but it does…
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Forex Signals
Forex signal services do everything a robot does except the actual execution of trade entries. Besides possibly using an automated program, a “professional” trader may generate trading signals (for a fee, of course) for clients to act upon. However, you may be paying for a signal in which you do not know the rationale behind each…
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Forex Robots
Forex robot scams encompass Expert Advisors (also famously known as EAs) and other automated trading systems. What is a forex robot? In the forex world, a “robot” is a program that strictly uses technical signals to enter into trades and lets the human sleep in a hammock on a beach while he “makes” money. With a…
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Forex Scams
“Buy my ‘End of the Rainbow’ system and you’ll be able to make at least 100,000,000%!!!” It’s like finding the end of a real rainbow but easier!! Guaranteed profit worth a hundred pots of gold with absolutely no risk! Don’t be a sucker! You’ve probably heard or seen something similar on TV ads, online pop-ups,…
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What Makes a Good Trader?
What separates good traders from bad traders? A good trader realizes that trading is patience, discipline, and requires a trading approach adapted to their specific psychological profile. A good trader concentrates on the PROCESS of trading, and not just on the result. Here’s a list of other things that good traders do: What Good Traders Do A good trader knows if they…
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Tips for Forex Trading Beginners
As a beginner, you’ve taken your first steps towards learning the basics of forex trading. But it only gets harder from here. Just like learning how to walk, you have to take baby steps, and in between, you will fall, but you get back up and press forward. If you’re trying your hand at forex trading for the…
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How to Lose All the Money in Your Trading Account in 10 Days (or Less)
Do you want to learn how to make all the money you just deposited in your trading account quickly vanish? In 10 days or less? Here’s a step-by-step guide: Step 1: Buy a super expensive computer. Don’t forget to buy at least six 27” UltraHD 8K monitors and mount them all on a magnificent monitor stand so that you…
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5 Deadly O’s of Trading: What Traders Do To Guarantee Their Own Failure
Did you know that the five deadliest factors that cause traders to fail are self-inflicted? Many traders self-sabotage their own trading and may not even be aware they’re doing it. When their account goes to zero, they have nobody to blame but themselves. While it might be too late for these traders, fortunately, it’s not too late…
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Summary: Currency Correlations
Like synchronized swimmers, some currency pairs move in tandem with each other. And like magnets of the same poles that touch, other currency pairs move in opposite directions. When you are simultaneously trading multiple currency pairs in your trading account, the most important thing is to make sure you’re aware of your RISK EXPOSURE You might believe that…
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How To Calculate Currency Correlations With Excel
As you’ve read, correlations will shift and change over time. So keeping on top of current coefficient strengths and direction becomes even more important. Lucky for you, currency correlations can be calculated in the comfort of your own home, just you and your most favorite spreadsheet application. For our explanation, we’re using Microsoft Excel, but any…
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