Day Forex Trading and the Mind

What impact your mind frame has on your day trading activities will in part be determined by how emotionally tuned you are. In some cases, if you happen to blow with your emotions, your day will be heavily affected by other things in your life, frustration, or a few bad trades.

In other cases, you may have a high tolerance for emotional strife before you believe it affects your daily dealings. In either case, the mind frame you enter the day with counts. Because day trading is a solo activity, only you get to determine how your day goes and how you handle the events of the day. Because of this solo activity, you may also need to develop a higher level of self awareness. Your mood can become your monkey on your back even during a good trading day.

If you allow a downcast mood to factor into your decisions, you are no longer making objective decisions. Using emotion through the trading day is a definite sign of potential loss. Being objective helps you make objective decisions and the introduction of emotion into that equation is a good recipe for loss

Margins in FX Trading | ForexGen

Trading in the FX market is done with “lots” and “mini-lots” of currency pairs. These lots and mini-lots are leveraged money, which is what allows you the potential to make so much profit from trading currency in the Forex. The standard size for a lot is $100,000 in currency, while a mini-lot usually represents $10,000 in currency.

What leverage allows, is that you don”t need $100,000 to trade $100,000 worth of currency. That’’s where leverage comes in.

If you have leverage of 100:1 then you only need $1,000 to trade a lot, since the money is leveraged at around 100 to 1. Most leverage comes at levels of 50:1, 100:1, and rarely at 200:1, although those ratios do exist out in the world of Forex trading.

Growing chorus says oil has peaked

DALLAS, TEXAS // Jim Baldauf, a former oilman, remembers the days when it seemed like you could punch a hole in the ground just about anywhere in Texas and hit a gusher.

Now explorers in the southern US state of Texas find themselves drilling down further, and then turning horizontally for a while, and then back down again before they hit black gold. And with every passing year, the task of finding oil becomes more and more complex