Let’s Talk Forex with Alison and Chris

97. Managing Risk: Essential Strategies for Traders

Managing your risk in Forex trading is paramount to long-term success. Traders often underestimate the effects of market volatility and high leverage, and how margin calls can lead to the loss of capital.  In this episode, Alison and Chris discuss effective risk management strategies, such as setting stop-loss orders, hedging, and correct position-sizing, to help traders navigate the unpredictable nature of the Forex market with greater confidence and sustainability.
Go vote on the topic of our final episode of season 4 (poll closes June 23rd, 2024): https://bit.ly/3KVTJSJ
Link to a previous episode on risk management (Apologies for the sound quality, this was one of our very first episodes!): https://spoti.fi/4b6UxyP
 
FxScouts 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.

96. Limit Orders: Maximise your profit potential

Limit orders are powerful trading tools, but they require patience and a thorough analysis of the market to use them correctly. This week, Alison and Chris break down what limit orders are and how they can help achieve better profits. But they also have disadvantages, so tune in and find out how to best integrate them into your trading strategy.
YouTube video on placing stop looses (which is also discussed a bit in this episode): https://youtu.be/ZLWvIA-4-O4?si=rv6EAsU4BWEnwB2g 
FxScouts 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.

95. Prop Trading: The future of trading or doomed to fail?

The popularity of prop trading has exploded in the past few years, but the industry has been engulfed in chaos over the last 6 months. This week, with Alison away, Chris looks at how prop trading works, why it's so popular, what is causing the troubles besetting the industry, and whether calmer waters are in sight.
Link to Neal Bateman's interview: https://spoti.fi/4aN4KQM 
FxScouts 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.

94. Mastering Double Tops: Avoiding Costly Mistakes

This week, Alison and Chris delve into one of the most common yet often misidentified chart patterns: Double Tops. Understanding this pattern can be a powerful tool for predicting future price movements, but misidentifying it can lead to significant losses.
Tune in to learn: 🔍 How to accurately identify double tops 📈 How to effectively incorporate them into your trading strategy 💡 Tips and tricks to avoid common pitfalls
Enhance your trading skills with expert insights and practical advice. Don’t miss out!
Link to Alison's YouTube video as promised: https://youtu.be/Dx3tiwYcZeg 
FxScouts 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.

93. Forex.com or IG: Which broker is right for you?

This week Alison and Chris take a closer look at two giants of the trading industry. IG and Forex.com have both been around for decades and are trusted by hundreds of thousands of traders around the world. As you might expect, they excel in most areas but there are key differences that make them suitable for different types of trader. Listen in to find out which one best suits you and your trading style.
Our review of Forex.com: https://fxscouts.com/broker/forexcom/
Visit Forex.com: https://fxscouts.com/go/broker/forexcom/signup/ 
Our review of IG: https://fxscouts.com/broker/ig/
Visit IG: https://fxscouts.com/go/broker/ig/signup/ 
 
FxScouts 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.

92. The Importance of Flexibility in Forex Trading

Flexibility is crucial in forex trading due to the dynamic and unpredictable nature of the currency markets. Prices are influenced by several factors, including economic indicators, geopolitical events, and market sentiment, which can change rapidly. In this episode, Alison and Chris discuss why flexibility is so important in Forex trading and how you can achieve it without taking unnecessary risks.
Link to the Pivot Point video as discussed in this episode: https://youtu.be/jB7dhCn8TBI
FxScouts 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.

91. A trader’s journey: Neal Bateman

Losing his job was the trigger that propelled Neal from beginner to trading coach. Like others in the travel industry, Neal Bateman’s job was put on hold during the pandemic. Seeking ways to make up for the loss of income, he came across Forex trading. Through big wins and hard losses, he stayed the course, educated himself, found a trading coach, and became a full time trader. He now coaches others through their own trading journeys. Neal’s story shows how with determination and hard work anyone can become a successful trader.
You can get in touch with Neal via email: neal@tradingangel.com
A few useful links and a promo code from Trading Angel!
Instagram: https://www.instagram.com/trading_angel?utm_source=ig_web_button_share_sheet&igsh=ZDNlZDc0MzIxNw==YouTube: https://www.youtube.com/@Trading_AngelFX Replay: https://fxreplay.com/?via=tradingangel with monthly 15% discount code: "TradingAngel"
 
FxScouts 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.

90. Gold’s meteoric rise and how you can profit as a Forex trader

Known as the “commodity currency,” the Aussie dollar has long been recognised for its strong positive correlation with gold. In this episode, we take a deep dive into the correlations of gold and a basket of currencies, and show why through understanding these relationships, you can increase your profit potential, and also hedge your trades effectively. We also cover why the price of gold has sky rocketed in recent months and what its future may hold.
Read this article for more information: https://fxscouts.com/news/whats-driving-golds-meteoric-rise-and-how-long-can-it-continue/Find a well-regulated gold broker here: https://fxscouts.com/gold-trading-brokers/
 
FxScouts 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.

89. How to Take Advantage of the Breakout Trading Strategy

A breakout occurs when a currency pair's price moves outside a defined support or resistance level with increased volume. It is a popular trading approach used by traders to take a position within a trend's early stages. This strategy is often the starting point for large price moves and increased volatility. In this episode, Alison and Chris discuss how you can identify a breakout, how to confirm that they have occurred, and how to manage your risk.
Link to YouTube short on Trading Breakouts: https://youtube.com/shorts/G46GV4PYn0c?feature=share 
 
FxScouts 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.

88. A Breakdown of the Best Tools for Trading Analysis

The world of trading has changed dramatically over the past few decades, and with the ability to trade online, many Forex trading tools have been developed to help traders analyse the markets.  Many brokers offer these tools free of charge or they are integrated into the brokers’ trading platforms. In this episode, Alison and Chris discuss four different types of trading tools:
Tools for finding trading opportunities
Tools for taking the market's pulse, or for keeping track of market sentiment
Tools to calculate your profit and loss
Trading strategy tools
For more information, check out the following pages:
https://fxscouts.com/forex-tools/https://fxscouts.com/economic-calendar/https://fxscouts.com/forex-education/technical-analysis-vs-fundamental-analysis/
 
FxScouts 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.