Editorial

Leicester City – Premier League Champions 2016

Posted by on May 20, 2016 in Editorial, Featured, Learning to Trade?, News

Leicester City – Premier League Champions 2016

If you’ve just returned from another solar system, you might not know that Leicester City football club won the English Premier League title for the first time in their history in 2016. Starting the season as 5000-1 outsiders, they triumphed over many well known and better funded clubs. I confess that I am not a follower of football. As a Leicester citizen, I couldn’t help but be riveted to the media coverage of this local success story. So why am I writing about a football success story on a trading website, apart from the fact that Plan B Trading is based in Leicester? I think the undoubted success of Leicester City has many parallels with the trading world. Not least of these is belief. Even if those around them did not believe it was possible to succeed, the team held on to that belief. Their confidence led to many a successful match when pundits would have them in second place. In trading any given strategy, you must have the confidence in the strategy to deliver a result. Hesitation is not a characteristic associated with success. Another lesson we can learn from Leicester’s football success is the time it takes to become a national phenomenon. This did not happen in a single match any more than a single profitable Forex trade makes a successful trader. We cannot measure success in trading in a single trade. During the football season, Leicester did take some losses – not too many as it happens. There were quite a few matches they did not win. Did they let this affect their next game, or did they just train harder? By the end of the season, they had many more points than any other team. As a trader, you must not allow your mindset and confidence to be wrecked by a losing trade or a run of non-profitable trades. You need to cope and not carry this negativity into your next trade. This might mean cooling off by staying out of the market for a period of time. Or reducing your exposure until your confidence returns. Or it might mean spending some time with your coach or mentor revisiting some of the basics. At the end of the day, you must measure your trading success over the longer term and not a trade by trade...

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Farewell Mrs T

Posted by on Apr 26, 2013 in Editorial, Featured, News

Farewell Mrs T

Much has been written and broadcast about the passing on of Margaret Thatcher. Her funeral took place whilst I was in the City of London working with some new traders. A couple of thoughts struck me through the day. Love her or loathe her, and much was broadcast to this end, I believe she was one of the best prime ministers to hold office last century. I agreed with much of what she accomplished, putting Britain back on the global stage and helping us feel proud of our nation. The protests were vile and distasteful, particularly for her family. According to reports I read in the press, some of the protesters included professional people, such as teachers, who are in charge of our children today. If this is representative of attitudes amongst the teaching profession, then all I can say is that these people are totally disconnected from the real world and should book their one way ticket to North Korea. It is hardly any wonder that so many young people in the UK are out of work and available jobs are being taken by migrant workers. Our young people have been let down and lack the understanding of basic wealth creation. It is worth remembering that Mrs Thatcher passed through the education department on her way to the top. The major role Mrs Thatcher played in my current life was the deregulation of the City of London and the abolition of exchange controls. These two acts enabled the trading activities we see today. With the entrepreneurial nature of Britain, these decisions led to London becoming the leading financial centre in the world. With her pro-British stance in relation to Europe and her belief in the individual, rather than the state, we all benefit from the role London has today. As a trader, I am grateful for the legacy of Mrs Thatcher. I hope that future generations of political leadership do not allow London’s position in the financial world to be undermined. Farewell and...

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Welcome to the trader’s blog

Posted by on Mar 2, 2012 in Editorial, Featured

Welcome to the trader’s blog

Welcome! On this trader’s blog we’ll be sharing some of thoughts of our in-house traders and trainers regarding the markets and the events that influence them.  

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