A lot of people have been asking me about trading these levels on other markets from the very beginning of this blog, and while the emails pile in and I continuously see great traders sending me ideas...
Feb 02, 2010
2 Comments
Consolidation is the result of indecision and lack of conviction of the consensus of traders across the globe. Cyclical patterns develop, which at one point or another, get busted.
I though I would w...
Feb 01, 2010
7 Comments
When I first started trading, I searched high and low for the solution of all solutions that would reap the most profits. Methods came and methods went, as I realized that most of them were g...
Jan 26, 2010
12 Comments
“What’s the best place to put a take profit or stop loss?”
If this post doesn’t clear it up, I’m not sure what will. Let’s forget about price action for a moment and let the numbers speak ...
Jan 17, 2010
1 Comment
Remember that demo account you had, where you doubled the balance in a matter of weeks? After all, it’s the reason you took your paycheck money and put it in FX to begin with. What seems to be th...
Jun 06, 2009
5 Comments
When I started this blog, I never thought anyone would ever ask me about automated trading, but I surprisingly get more than enough emails for me to even think of writing this article.
We’ve all bee...
May 20, 2009
12 Comments
Note the word ‘free’. One thing we talk about alot here is attention paid to the wrong information all over the internet, especially in the beginning, allowing traders to develop poor trading habi...
May 14, 2009
11 Comments
Major points:
Different market environments call for different ‘types’ of trades. Keep a folder on you computer with screenshots, marked up with key areas and notes of what you did right/w...
Apr 03, 2009
19 Comments
A good friend of mine called me over the weekend and explained that he wanted to start trading, and was looking for some basic advice. In our relatively brief conversation, I covered several major top...
Nov 20, 2008
23 Comments
One of the biggest myths about trading, and what is usually stamped into the heads of traders from the very early stages of their careers, is that successful entry techniques will lead you to consiste...
Nov 11, 2008
2 Comments
A newer trader is likely to overlook or disregard many discussions on risk/reward because they are either busy fantasizing about millions in profits or too inexperienced to understand the importance o...
Nov 11, 2008
2 Comments
Tied to risk/reward, the size of your positions dictates how much you are willing to risk per trade versus how much you will gain. As a general rule of thumb, I risk no more than 1% or 2% of my portfo...
Nov 11, 2008
2 Comments
When we enter any trade, we have two basic goals:
1. Obtain the maximum amount of profit
2. Protect ourselves from losses
It starts from the beginning . Look for the most profitable opportunities in t...
Nov 11, 2008
3 Comments
In my experience, and as I have discussed in other articles, I tend to focus more on what can go wrong rather than what can go right when it comes to taking a trade. Because of this, I always start wi...
Nov 11, 2008
4 Comments
In order to set a reasonable profit target, we need to know the following about our trade:
1. Is it a countertrend trade and against market sentiment?
2. Is it in the direction of the trend and in lin...
Nov 11, 2008
5 Comments
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