Reasons to not quit trading – By Jakob from TradeProfits.net
The obvious reason why you want to quit trading is most likely due to huge losses along with being scammed by marketers promising rags to riches within the end of the week. You have tried just about everything and nothing seems to work. Quitting seems like the only reasonable choice to make. However, more often than not, this is the exact period where you learn some of the most important lessons as a forex trader. Because of expensive losses, you are likely to re-access your trading approach with a more realistic goal in mind. When this happens, the sense of urgency to make quick bucks diminishes, and hence the ability to make more rational trading decisions increases, often along with a stronger focus on money and risk management.

• Kathy Lien wonders out loud what Larry Summers, Obama’s senior economic advisor knows about payrolls, having a role in lowering expectations.
• Jakob Dupont Knudsen announces a new site: ForexPop in which he concentrates news from the world of forex. I’m glad that Forex Crunch is cited there.
• Larry Greenberg dives into a controversial issue: the US debt, a factor that weighs on the dollar.
• Adam Kritzer discusses the continued Chinese currency peg and how it influences currency trading.
• Casey Stubbs explains how to detect forex price trends using candlesticks.
• James Chen announces a webinar in which he shows how he does his daily analysis and finds high probability trading setups.
• Ash, on Michael Greenberg’s site, asks the question many new traders ask: where is my Stop Loss? He also supplies some answers…

That’s it for now. Have a great weekend!

I’ve used random.org for drawing the winners. Here they are:

Forex Hacking begins from giving good habits to new traders: Knudsen lays out a proper trade log. He then goes to deal with risk management, an important aspect that is neglected by many traders.