Who doesn't love learning a good, new saying? I heard the one above recently, and I don't know why, but I found it a bit funny. In fact, some friends and I have been having fun with it ever since, repeating it almost incessantly to one another whenever someone's beginning a new task, project, or trading initiative. And while it started off—and really still is—a joke, the thing about these little sayings is that they do make you think about their bigger meaning, which, in this case, is to work smarter and more efficiently, and for you and I, to trade smarter.
The firm's main research and development office is based in Tel Aviv Israel. It originally specialized in Forex and indices spreadbetting and CFDs but has recently expanded in stock trading also.
At the time of writing, eToro has 2.2 out of 5 star on Trust pilot. The comments suggest that the platform offers some impressive features but withdrawing money can be difficult. Having said that, some of the negative reviews appear to be rants rather than constructive criticism. This can be examples of traders losing money through their own recklessness rather than eToro's fault. You should therefore take this reviews with a pinch of salt.
“the platform offers some impressive features but withdrawing money can be difficult.”
76% of retail investor accounts lose money when trading CFDs with this provider.
OANDA is a global financial services company providing advanced currency solutions to both retail and corporate clients all over the world. In this article, we are going to review this broker’s trading options, tools, platforms, spreads, commissions, security measures, and educational resources to help traders make the right choice.
76.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing
AvaTrade offers a wide variety of trading solutions (spread trading, CFDs, and social trading), and peace of mind with its comprehensive regulation, covering the EU, Australia, Canada and South Africa. Clients can use a variety of platforms for discretionary and automated trading.
76% of retail investor accounts lose money when trading CFDs with this provider.
Offers multiple asset classes, platforms, and regulated in a variety of regions. Caters for a global audience. Awarded with the Highest Overall Customer Satisfaction Award for 5 years running - Investment Trends CFD Report 2015.
A standalone copy-trading ecosystem, providing equities, foreign exchange, commodities and cryptocurrencies markets. Provides a global selection of brokerages.
Pepperstone is a global regulated broker that provides its clients with the latest technologies for trading multiple assets such as Forex, indices, cryptocurrencies, stocks, ETFs, and commodities. This article provides an overview of its trading platforms, tools, fees, protection measures, and other aspects to help traders make a more informed decision.
"Is the juice worth the squeeze?" isbasically a reminder to ask yourself whether whatever you're doing is truly worth the effort and likely to produce a payoff that's consistent with the time, resources, and "sweat equity" you're pouring into it. If so, the time and effort is being well spent, but if it's extraneous or futile, well then, you could stand to work or trade smarter.
For traders, of course, things work a bit differently. It's not like we can just focus our full attention only on set-ups and trades that are going to pay off, since we have no way of knowing that in advance. However, there are still plenty of times when it may pay to ask yourself, "Is the juice worth the squeeze?" to avoid devoting valuable time and resources, not to mention your hard-earned capital, where it may not belong. Here are some of those times…
Trade Smarter With Risk/Reward Analysis
Trade selection seems like the most obvious time to consider whether the "juice is worth the squeeze." You'll instantly trade smarter, after all, just by eliminating ill-advised set-upsand trades that can be, for whatever reason(s), classified as a waste of time, money, and/or effort. Novice traders tend to focus on reward far too much and not focus on risk enough. Now certainly, reward/risk profile is one of the foremost qualifiers of a worthy trade set-up…but it's far from being the only one:
Technical prowess
For Lazy Traders and technicians alike, the technical merits behind a trade define the basis for whether or not we take it. If it's a weak signal, or only some of the required factors are lining up, then it can be said that the trade in question isn't worth the investment. To trade smarter, wait for all the required factors to line up. For example, a strong chart pattern like a pin bar reversaloccurring at key support or resistance, perhaps with moving average or RSI confirmation, and agreement across multiple time frames would indicate a stronger and more worthwhile trading opportunity.
News and fundamentals
Many Forex traders may carefully assess the impact of the most recent or upcoming economic data, the path of central bank monetary policies, and evenfundamental or intermarket factors like equities, bonds, and oil prices when trading all or select currencies. Meanwhile, some—like us, for example—trade smarter by following the news, but not letting it have a decisive impact on trade selection. There's no "right" way; the point is just not to break one's own rules and overlook key factors in the name of trading (or not trading) a given set-up.
Especially when trading longer-term, it's often advisable to zoom out and examine price action onlong-term charts like the weekly and/or monthly. The big-picture perspective is a very valuable one, indeed, and anytime you can trade in line with the prevailing trend, there's added confidence to be had.
Trade Smarter by Maximizing Your Time & Efforts
It's really quite funny that for all the countless hours many spend trading the markets, only a matter of minutes gets devoted to executing actual trades! That's because our efforts are so often being devoted not just to analysis and searching for opportunities, but also tocontinuing education, skill building, and developing a deeper knowledge about the markets and our own trading methodologies. And here, then, is another area where could all stand to trade smarter.
Ask yourself if the "juice is worth the squeeze" whenever you're studying new set-ups, patterns, or trading signals, perhaps in hopes of adding them to your arsenal. Consider whether it's something that fits naturally within your strategy, if it's something that applies to the assets, markets, and time frames you trade, and if it has a proven track record for success to begin with.
Do not chase your tail...
Too often, traders waste time and energy chasing whatever trade, pattern, indicator, or method is receiving hype in the media or on the internet, only to have the hype fizzle out soon after. Trade smarter by only pursuing new or additional methods that are proven reliable and useful for you and the way you trade, and don't chase the flavour of the week just because everyone else is!
Also, think very seriously whether the "juice is worth the squeeze" whenever considering the purchase of new trading products and services. Do you really need more or different software, additional indicators and variables to consider, or some mysterious, black box system that promises results that almost sound too good to be true?
In the end, you can likely better utilize your resources and protect physical and emotional capital just by being vigilant about how you spend your time and energy. And, in that respect, even when not executing trades, considering whether the "juice is worth the squeeze" can still help you trade smarter.