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Valutrades Limited - a company incorporated in England with company number 07939901. View more information here.
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Max Leverage

30:1 (or up to 500:1 for Professional clients, click here to find out more about professional client status)
Up to 500:1


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Negative Balance Protection


Recent Posts by Stuart McPhee

Why Defence Wins in Forex Trading

Why do people trade? For most, their primary motivation is to make money. Sure, there are secondary reasons however they all stem from the undeniable urge to make money.  

I will often ask this question at the beginning of presentations … who trades to make money? Interestingly, most people are shy or reluctant to admit that their primary motivation is to make money.  Almost as if it is something to be ashamed of.  

Let me introduce you to what I think is the great irony in trading. The primary reason why people trade, is to make money. Yet, it is the money that often causes people to make all the mistakes and not make money, because they focus too much on it.

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Market Wrap - December 2019

The main issue in December was the British election and its possible impact on Brexit plans.  British Prime Minister Boris Johnson returned to Downing Street with a big majority after the Conservatives easily accounted for Labour in its traditional heartlands.  Mr Johnson said it would give him a mandate to "get Brexit done" and take the United Kingdom out of the European Union next month. Earlier in the month, the U.S. Federal Reserve’s (Fed) Federal Open Market Committee had its two-day policy meeting, keeping interest rates steady, as widely expected.  Unlike many previous meetings, the decision to keep rates unchanged was unanimous. After three straight interest rate cuts this this year, the Fed kept the funds rate in a target range of 1.5%-1.75%. More importantly, the Fed indicated that no action is likely next year while there is persistently low inflation.

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Managing Risk: Why Forex Traders Need to Understand Probability

It is widely accepted that when you start trading, you never consider the most critical issues to becoming a consistently profitable trader.  Often, all you can think of is how much money you are going to make and how you cannot wait to start.

When it comes to managing risk, an often-overlooked component is probability, or the likelihood of something happening.  Even then, I strongly believe that many traders misinterpret the rules of probability. Some believe that if they have an unprofitable trade, somehow this increases the chance that their next trade will be profitable. If they incur a string of losses, they believe that their chance of a profitable trade increases as each unprofitable trade passes.

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Market Wrap - November 2019

The most dominant issues in November were the United States Federal Reserve (Fed) and their plan on interest rates, as well as the latest update in the Brexit and election saga.  In the U.S., the spotlights are always on the Fed and at a recent conference in Washington, New York Federal Reserve President John Williams said that the Fed has interest rates at the appropriate level for the U.S. economy.  "I think we have monetary policy in the right place. The economy is right where we would like it to be." Markets only see around a 25% probability of a rates move at the Fed’s next meeting on 10th – 11th December.  The Brexit critics continue to roll up to have their say.  Recently retired former speaker John Bercow says leaving the EU is the United Kingdom's 'biggest blunder since World War II'.  At a dinner in London, Mr Bercow was quoted as saying, “I don’t think it helps the UK. Brexit is the biggest mistake of this country after the war. I respect prime minister Johnson, but Brexit doesn’t help us. It’s better to be part of the [EU] power bloc.”

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Exercise Your Way to Trading Profits

Unfortunately, many people who start trading find success difficult to achieve, especially early on.  Trading is a challenging endeavour that has torn people from across the world across generations, from every extreme of their emotions.  

It is our money that is directly involved in trading and therefore at risk, and the potential of making more money is our primary motivation for beginning this undertaking.  Ironically, it is the money that encourages the vast majority to attempt to trade yet it is the money that causes most people to fail.

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Market Wrap – October 2019

The most dominant issues in October were the looming deadline for Brexit and whether the United States Federal Reserve (Fed) would cut rates again.  The Brexit deadline of 31st October 2019, which has now been spoken about for a considerable time is no longer as the European Union agreed to extend the deadline by three months.  European Council president Donald Tusk said the EU's 27 other countries agreed to accept "the UK's request for a Brexit flextension until 31 January, 2020".  "The decision is expected to be formalised through a written procedure," he added. The latest extension allows the United Kingdom to leave earlier if a deal can be done.  The Fed approved a widely anticipated quarter-point interest rate cut in the last week of October however signalled that there won’t be an more movement any time soon. “The Committee will continue to monitor the implications of incoming information for the economic outlook as it assesses the appropriate path of the target range for the federal funds rate,” the post-meeting statement said.

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Developing the Professional Trader’s Mindset

One of the things I wish I knew before I started trading was how influential my mind was going to be on my trading and how much of an emotional roller coaster I would go on. Many traders have heard others talk often about “psychology”; however, I always wonder how many people truly understand what it is they mean when they talk about it and its relationship with trading. 

In reality, your mindset controls anything you do and, consequently, any endeavour you undertake. Trading is no different, and it could be argued that this truth is even more applicable in trading, as your money is involved, which triggers many emotions inside us.

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Market Wrap – September 2019

Concerns over global growth, Brexit’s looming deadline and the ongoing trade wars continue to dominate markets in September.  The head of the International Monetary Fund (IMF) Christine Lagarde has said in a recent interview that the trade war between the United States and China is weighing on the global economy ‘like a big, dark cloud’.  Ms Lagarde asserted that the ongoing tariffs are forecast to remove 0.8% off global economic growth in 2020. “That’s a massive number.” Lagarde said in an interview. “It’s fewer jobs. It’s less business going on. It’s less investment. It’s more uncertainty. It weighs like a big, dark cloud on the global economy.”

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Market Wrap: August 2019

Global growth (or lack thereof), Brexit and trade wars were the main concerns in August, however it was the trade wars between the United States and China that resumed its spot in the limelight in the markets.  According to some market strategists and US economists, the ongoing trade wars increases the chances of equities declining and more significantly, a global recession over the next 12 months. Morgan Stanley’s chief economist, Chetan Ahya has suggested that the global economy would fall into recession around six to nine months after the U.S. and China enforce their new round of tariffs.  “Risks remain skewed towards further escalation at least until material market or economic weakness shows,” Ahya told clients in a note.

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Market Wrap – July 2019


Throughout July, the trade talks (or lack thereof) between the United States and China have taken a back seat as a leadership change in the United Kingdom along with its looming Brexit deadline have been a focus, as well as ongoing concerns about global growth and the U.S. Federal Reserve’s first rate cut since 2008.  The International Monetary Fund (IMF) trimmed its forecast for global economic growth again thanks to trade wars, inflation concerns and Brexit. “Risks to the forecast are mainly to the downside,” the IMF said. “They include further trade and technology tensions that dent sentiment and slow investment; a protracted increase in risk aversion that exposes the financial vulnerabilities continuing to accumulate after years of low interest rates.  Mounting disinflationary pressures that increase debt service difficulties, constrain monetary policy space to counter downturns, and make adverse shocks more persistent than normal.”

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