One subject
Trading psychology
12 lessons and 9 glossary terms cover this across the academy. Each one links to its own page, and nothing is repeated here.
Trading involves risk. You could lose more than your deposit.
The curriculum
12 lessons cover this.
In curriculum order, which is the order you would meet them.
- What a demo account isModule 01What you are actually trading6 min
- What unrealised profit and loss isModule 03Margin and account mechanics8 min
- What Elliott Wave and harmonic patterns claimModule 07Reading the chart8 min
- Daily and weekly loss limitsModule 09Risk, plan and practice7 min
- Why stops get hitModule 09Risk, plan and practice8 min
- Adding to a losing position, as a risk topicModule 09Risk, plan and practice8 min
- What the trading styles demandModule 09Risk, plan and practice9 min
- What goes in a trading planModule 09Risk, plan and practice10 min
- How a trading journal is keptModule 09Risk, plan and practice8 min
- The behavioural failure modesModule 09Risk, plan and practice14 min
- Performance claims on social mediaModule 10Staying safe and your rights7 min
- What going live responsibly meansModule 10Staying safe and your rights8 min
The glossary
9 terms belong here.
Alphabetical, each defined in one sentence on its own page.
- Averaging downAveraging down is adding to a position that has already moved against its opening price, which lowers the average entry of a long position and increases the total exposure in the same action.
- Confirmation biasConfirmation bias is the tendency to notice evidence that supports a view already held and to discount evidence against it, which is why an open position changes how a chart looks.
- Dead cat bounceA short recovery inside a decline that then continues, named from the observation that a falling object can bounce without having stopped falling.
- Loss aversionLoss aversion is the finding that a loss of a given size registers more strongly than a gain of the same size, which is the account usually offered for holding adverse positions and closing favourable ones early.
- MartingaleA martingale is a staking scheme in which the size is doubled after every loss so that one win recovers the whole sequence, and it requires unlimited capital and no ceiling on the stake to work.
- Outcome biasOutcome bias is judging a decision by the result it happened to produce rather than by the information available when it was taken, which rates a lucky decision well and a sound one badly.
- OvertradingOvertrading is dealing more often or in larger size than a method calls for, which multiplies transaction costs against a set of positions the method never asked to be taken.
- Revenge tradingRevenge trading is opening a position immediately after a loss in order to recover it, usually in larger size than the sizing rule permits and frequently in the instrument that produced the loss.
- Trading journalA trading journal is a contemporaneous record of positions and the reasoning behind them, written at the time rather than afterwards, so the record cannot be revised once the outcome is known.
Get started
Open your account in four steps.
A clear path from sign-up to your first trade, in four steps.
No depositNo documents
01/ 04step 1 of 4
Register
A few details to get started.
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02/ 04step 2 of 4
Verify
Confirm your identity, securely.
ID and proof of address
03/ 04step 3 of 4
Fund
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04/ 04step 4 of 4
Trade
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MetaTrader 5
