Let’s Talk Forex with Alison and Chris

79. TradingView: The best trading platform around, but is it worth the cost?

This week Alison and Chris take a closer look at TradingView. What started out as a charting application with social elements has evolved into a fully-fledged trading platform. It’s modern, easy to use and packed full of useful features - but the free version is very limited, so we also discuss whether the premium versions are worth the cost.
The best brokers with TradingView integration: https://fxscouts.com/forex-brokers/tradingview/
DISCLAIMER:
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

78. The best technical indicators for short term Forex trading

Technical indicators can seem a bit overwhelming at first, so this week Alison and Chris take a closer look at the most popular technical indicators used in short-term Forex trading and discuss how to use them effectively. Also discussed are how to know when to use the right indicator, and how to avoid the common mistakes traders make when using them.
Links:
How to use the 200 day Moving Average: https://youtu.be/r-zo-3sRr64What are Moving Averages: https://youtu.be/DOtRb7CQ8msWhat is the Relative Strength Index (RSI): https://youtu.be/6f2nkM_s2i4Average True Range: Measure volatility and minimise risk: https://open.spotify.com/episode/76ojbdBS96CmjC3AvV9TpB
DISCLAIMER:
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

77. Trading Forex or Stock CFDs - What's the difference?

This week Alison and Chris discuss the difference between trading Forex and trading stock CFDs. While there are some superficial similarities, if you dig a little deeper you find differences in trading hours, leverage, analysis, costs and the risks involved. All this and more is discussed with recommendations for which form of trading might suit you best.
 
DISCLAIMER:
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

76. 5-3-1: A Trading Strategy for Beginners

The Forex market is the most active financial market, trading over 7.5 trillion USD per day. Given the level of activity and volatility in this market, a well-planned trading strategy is required to make the most of these opportunities. However, building such a strategy can be challenging for beginners.
The 5-3-1 forex trading technique simplifies that. It helps traders develop a clear trading plan for the forex market. Unlike other techniques that focus on trading mechanisms, chart patterns, and indicators, the 5-3-1 technique allows traders to narrow down the Forex pairs they would like to trade, the trading strategies they want to use, and choose a time of the day to trade.
In this episode, Alison and Chris outline how to define which currency pairs you should choose, how to choose trading strategies that suit your risk appetite and trading style, and how to figure out which time of the day will create the best trading opportunities.
Links as promised in this episode:
https://youtu.be/ZLWvIA-4-O4
https://youtu.be/040sujxN7IE
https://open.spotify.com/episode/4T895k6O7bV3cNVFRjTSDV?si=245bbcab0f774f1f
 
DISCLAIMER:
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

75. Is it possible to trade too cautiously?

Forex trading is a high-risk venture and good risk management is the key to success, but could an over-cautious approach lead to larger losses or prevent you from progressing in your trading? In this episode, Alison and Chris discuss scenarios where traders hold back, only to realise larger losses in the long run, causing untold frustration and damaging their trading psyche. They also discuss ways to manage your trades effectively while risking enough to make them worthwhile.
Links to educational YouTube videos as promised in this episode :-)
https://youtu.be/ZLWvIA-4-O4
https://youtu.be/qH5HAUlqSwI
DISCLAIMER:
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

74. Women in Forex: Exploring the gender gap in trading

In most other areas, the gender gap between men and women is closing, but in the finance sector, the disparity is the largest. Recent data shows that only 16% of new Forex trading clients are women. In this episode, Chris and Alison delve into the reasons behind these surprising statistics and provide some tips for how women can successfully enter the Forex trading space.
Women in Trading:
Caroline Rundell: Trading Angel - on Tik Tok
Emily: Mindfully Trading - https://www.youtube.com/@MindfullyTrading
Annika Masrani: Finpact https://www.youtube.com/c/Finpact
And check out our YouTube channel: youtube.com/@fxscouts and our education pages: https://fxscouts.com/forex-education/
 
DISCLAIMER:
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

73. Scandal! 2023 in Forex Fraud - Season Finale

In the final episode of 2023, Alison and Chris look back at some of the year's biggest Forex trading scandals. From hedge fund bosses trying to manipulate the South African Rand, to prop trading firms fleecing their own traders - there's always someone willing to cheat in order to make more money. We'll be back in the second week of January, so wishing you call a wonderful festive period.
To avoid being scammed or to learn what to do if you think you have been scammed, please read mroe here: https://fxscouts.com/report-a-scam-broker/ 
 
DISCLAIMER:
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

72. Placing Smarter Stops

The primary goal of any trader is to risk as little as possible to make as much as possible. And one of the most effective tools to achieve that is proper stop-loss positioning. So, how do you set a stop-loss that aligns with this objective? In this episode, Alison and Chris provide practical advice for setting stops that are neither too tight or too wide and those that avoid the typical crowded levels.
DISCLAIMER:
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

71. Three Easy Ways to Improve Your Trading

The 80/20 rule says that 80% of your results come from 20% of your actions – this is a widely accepted principle in many areas of our daily lives and business. The same applies in trading, 80% of your profits will come from 20% of your trades. Most traders think that to improve their trading performance, they will have to spend months refining and testing out new strategies. However, often small tweaks and changes to their current strategy can make a huge difference to their bottom line. In this episode, Alison and Chris provide three easy ways to drastically improve your trading strategy.
DISCLAIMER:
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

70. Israel, Hamas, and the Financial Markets

On Saturday, 7th October, Hamas launched a massive attack into southern Israel from its stronghold in the Gaza strip. Because Israel was caught by surprise, so was the world – and consequentially the global financial markets. The market reaction so far has been almost exactly as any fundamental analyst would expect, though with some interesting variations. In this episode, Alison and Chris launch into an in-depth analysis of how the Middle East conflict is affecting various currencies and commodities, and how it differes from other conflicts' effect on global financial markets.
DISCLAIMER:
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.