Recent content by Clay Davidson

Looks like more an advertisement of an another dubious alorithm for trading... I assume that you would better focus more on manual trading rather than on the automated one, even though it may seem that autotrading can bring you more profits. It's difficult to guess what algorithm will do, and...

It’s easy. The development of the trading strategy is a constantly ongoing process in the first place. I always try to tweak my strategy if possible. Of course I don’t touch some of the fundamental tools like the indicators that are integral for it. But I for sure get something new from the...

One of the biggest steps for me to realize in the journey of improving my trading psychology was learning to take profits. Knowing when to cut yourr losses and when to take profits with a position that is in the green is very hard. You don't want to close your winning positions prematurely...

The worst habit of beginning traders is a wish to get everything right now. The market doesn't like such traders, because it's impossible to get everythingright now. In my opinion, novices have to be wise and have a wise approachto trading, otherwise they will be eliminated by the market too...

Perhaps, one of the most important things in trading which is underrated by the majority of people is money/risk management. Before you start trading some serious sums of money, you should definetely learn how to control your risks and the whole budget. The market is unpredictable and it can...

As for the entry point, you've got to use the smaller timeframe to determine it. I mean that if you analyze the trends on 4H timeframe, then you've got to find the entry point on the H1 timeframe. This will give you more information about more recent events on the market.

I don't think that it makes sense to trade demo more than a couple of years. There are so many arguments nowadays in trading community about trading demo and its possible use for the beginners. Some traders claim that trading demo is a good way to learn how to trade, other traders believe that...

Theoretically, it is possible to become a billionaire trading forex. If I am not mistaken, George Soros is a trader and he is definetely very rich. However, apart from being a trader, he is also an investor and perhaps much of his wealth was achieved by some other financial activities. As for...

Speaking about first steps in traing I can advice just never give up and always striving for the best. So, it's the first thing you have to understand because it setups you on a positive way. It's really vital for every trader to learn trading psychology. There are no successful traders who...

There are lots of various resources where you can find plenty of useful infromation related to trading activity free of charge, you know. If you're a novice and want to learn patterns then it seems weird to me because pattern shouldn't be the very first thing which novices are interested in...

There is no such a notion as "the good amount of money to start with". Everything is individual, but, of course to start with s smal amount of money isn't recommended just because it will take you lots of time and nerves to boos it until ou start to have a solid income. Some professional traders...

As far as I concerned, your goal in trading shouldn't be just making money, of course the final result is money, but you have to be concentrated on the process rather than on your goal. In case you're a novice you'd better train on demo, find the currency pair which isthe most suitable for you...

Yeah, you're right. The success rate is a very stretchy term and it depends on lots of things. Firstly it's of course trader's psychology. His mental and physical condition which contain stability, patience and an ability to wait. Secondly, it's an ability to absorb information which you read in...

Price channels always work. But what about customized indicators? Have you ever tried any?

As for me, I still use channel trading. That’s a never-dying classical stuff.