Picking The Right Broker & Trading Psychology Lessons
In this live video, Mandi Pour Rafsendjani (interviewed in episode 089 of the podcast) and I speak on Forex trading brokers & trading psychology lessons from billion-dollar traders.
Be Careful When Choosing A Forex Trading Broker
Recently, Mandi had a discussion in regards to Forex brokers terms & conditions. She realized traders must be very careful when picking a broker because some of the brokers advertised are having very broad terms and conditions that give the broker company a lot of freedom.
Mandi shared a quick summary of things to consider on her Twitter account:
Here is a summary Nick.. Have a great week!! pic.twitter.com/TeU6DA8Yxi
— Mandi (@MPX_Trader) November 19, 2017
Trading Psychology Lessons From A Billion $$$ Trader
The second topic discussed has to do with the movie Team Spirit (2016). This movie is based on Jerome Kerviel's downfall. That is a very interesting story for traders. It shows how emotions and reactions can come into play to turn a good & recognized trader into a major failure.
Sometimes, the best way to gain Forex trading psychology lessons is to look for people who were challenged by their psychology. We can then find ways to avoid that.
Have you ever had bad experiences with a broker? Can you resonate with Team Spirit's story? Comment below and let us know!
If you are aspiring to Forex but wonder how to put together a solid trading plan, I recommend you grab my FREE One-Page Trading Plan Template. It will help you simplify your trading strategy on a single page!