Let’s Talk Forex with Alison and Chris

Forex trading is a 24-hour business, but it's divided into the four main sessions. This week Alison and Chris discuss why it's a bad idea to try and trade them all and how to know where you should focus your energies. Lifestyle, sessions crossovers, assets and data releases all play a major part in this decision so tune in and find out which trading session will suit you best. FxScouts DISCLAIMER:...

This week Alison and Chris preview a week full of interest rate decisions from some of the most important central banks in the world. But the focus is on the US Federal Reserve’s meeting on 20th March 2024 - there’s almost zero chance of a rate cut, but what will the Fed’s forward guidance mean for the EUR/USD and other major pairs? And will it restore some much-needed volatility to the market?   ...

A truly inspiring episode this week as Alison and Chris talk to Caroline Rundell, aka Trading Angel (links to her YouTube channel below). Caroline started her trading journey in 2015, with zero knowledge but plenty of hope and determination. Now she’s a professional trader, trading coach - and soon-to-be qualified financial adviser. In a world where the reality of trading is often obscured by soci...

This week Alison and Chris talk about market sentiment and why it can be a confusing indicator for many beginners. So, if you find yourself trading against market sentiment, don't panic! You're probably right... But listen in to find out why and how you can use sentiment analysis as part of a successful trading strategy. Links: IG Client Sentiment Report:  https://www.dailyfx.com/sentiment-report...

This week, Alison and Chris take a close look at XTB and Pepperstone, two of our highest-rated brokers, and ask which one would work best for you. Both are well-regulated with low trading costs - but once you start digging, it’s obvious that they are suited to different types of traders. Listen in and learn why we rate them so highly and which one you might want to consider if you’re thinking of s...

This week Alison and Chris discuss mobile trading apps and whether mobile trading should be part of your trading plan. Mobile trading is everywhere these days, and there are some real benefits to trading apps. But does that mean it should be your primary trading tool? Listen in to learn about the pitfalls of trading on your phone and how to use your trading app effectively.   DISCLAIMER: 75-90% of...

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:/...

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: ...

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 los...

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 pla...

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...

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: Carolin...

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...

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 l...

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 t...

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...

This week, Alison and Chris take a closer look at the global AI phenomenon that is ChatGPT and how it can be used to improve your trading. Spoiler: It's not going to make you a millionaire overnight, but there are a few ways you can harness it to make trading more efficient. ChatGPT predicting stock prices:  https://www.cnbc.com/2023/04/12/chatgpt-may-be-able-to-predict-stock-movements-finance-pro...

This week, Alison and Chris discuss how negative emotions can impact your trading, and what you can do to overcome them to trade smarter and more profitably.    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...

The cryptocurrency market has been on a rollercoaster recently, much of it driven by fundamental factors such as the effect of the Terra-Luna crash, the FTX collapse and the threat of tighter SEC regulation. In this episode, Alison and Chris discuss crypto's performance over the last year and where the market may be headed. Read more about cryto trading and crypto brokers here: https://fxscouts.co...

Ever since its inception, Bitcoin has skyrocketed in popularity, but has taken investors and traders on a wild ride. Its success paved the way for the emergence of numerous other crypto coins. However, due to the decentralised nature of cryptocurrencies, they are highly susceptible to sudden price fluctuations.  While this volatility may provide opportunities for high returns, it also carries a hi...

No deposit bonuses are popular promotions offered by brokers to entice new customers. They are designed to allow new clients to experience the platform and start trading without risking any of their own funds. In this episode, Alison and Chris talk about the advantages of using no-deposit bonuses, tips for trading with a no-deposit bonus, and what you need to know before you use them. Link to the...

In this episode, Chris and Alison cover how traders use mean reversions, mean reversion technical analysis tools, and how day traders and swing traders use these patterns to icrease profits.  What is mean reversion? Mean reversion is the concept that asset prices and volatility eventually return to their long-term average levels. As a result, traders use mean reversions to time their entries and e...

Balancing full-time work and trading requires discipline, dedication, and a solid trading plan. In this episode, Alison and Chris provide tips and techniques to help traders achieve success in their trading activities while balancing their full-time work. Links as promised in the episode :-) https://fxscouts.com/economic-calendar/ https://fxscouts.com/forex-education/developing-a-trading-plan/ htt...

Fibonacci retracements are a popular form of technical analysis used by traders to predict future potential prices in the financial markets. Fibonacci retracements and ratios can help traders identify upcoming support and resistance​ levels based on past price action. In this podcast, Alison and Chris talk about what retracements are, the benefits of trading retracements, and how to use the Fibona...

Asset correlation is the degree that financial assets, such as Forex pairs or commodities move in relation to one another. Two assets that move in the same direction are positively correlated, while those that move in opposite directions are negatively correlated. Understanding how asset correlation works is a very important step in building a trading portfolio. Links mentioned in this episode: Pe...