Continuing on with our price action study, in this article we'll put together a plan for analyzing a particular currency pair, on a particular time frame, and see if we can work out a way to get some probabilities on price continuation... Read more »
Profiting From A Price Action Study – Part 1
The basic question we are trying to answer in our price action study is, "how likely is it that price will continue to move in a particular direction and to certain levels?". If price starts moving up or down, we are going to analyze what the probability is of price continuing in that up or down direction. We should be able to use this information to build a profitable trading strategy from scratch, or to assist us in making existing strategies more profitable... Read more »
The Business of Trading – Part 2
In this second article in The Business of Trading, we address other attributes, skills, processes and equipment that you'll need to utilize in your trading business. Trading is a serious endeavor to undertake, treat it with the respect and commitment you would give to any other profitable business. Read more »
The Business Of Trading – Part 1
Looking to make money from forex trading? That's the aim for most of us and at first, it looks like such an easy thing to do! It turns out to be not so simple though, and I believe many things need to be addressed in a business-like manner in order to be a truly successful trader. To make money in any business requires skills, experience, knowledge, dedication and hard work - the business of trading is no different... Read more »
Warning – Don’t Try Forex Trading, Master It!
I believe one of the biggest mistakes you can make in forex trading is trying things halfheartedly, moving from mentor to mentor, strategy to strategy - always believing there's a better way to do things out there. I believe one of the keys to success is to master a technique or set of techniques, master the markets, master your craft. Read more »
NY Time October Results
Here's another NYTime trading system update, now that we're at the end of October. I wasn't able to grab the figures for the last day (31st) because the day hadn't been closed off yet. Apart from that though, the month has seen moderate profits of around 8.3% return. Read more »
One That Got Away
When reading articles from experienced forex traders trying to teach you something, you normally only hear about how this one was a winner and that one made you 500 pips. Well, here's a spanner in the works - here's how things can go wrong too, because it happens to all of us and it's part of trading. Read more »
Currency Correlations
There's a buzz around the forex world at the moment in regard to correlations between currency pairs and how you can use them to your advantage in your trading. While I haven't personally downloaded or read any of the "secret" reports on this subject, I thought it might be useful to discuss this topic and to give some examples of how I use currency correlations in my own trading... Read more »
Completing The Fractal-Based Trailing Stop Logic
In this article we will complete the pseudo-code logic behind our fractal-based trailing stop. Previously (see this article: http://www.winnersedgetrading.com/trade-of-the-day/defining-our-fractal-based-trailing-stop-ea), we explored how a fractal point itself could be defined in pseudo-code and we also defined some variables that would remember where our last fractal points were. In addition, we created some pseudo-code logic to tell us where the trailing stop would go. Read more »
Trend Line Drawing With Fractals
While on the topic of fractals, here's another great use for them: drawing trend lines! Trend lines are a very important part of technical analysis, in fact, they're probably the one thing you need to get right before you move onto more advanced forms of technical analysis. Trend lines can be drawn in lots of different ways, but I'll explain in this article and video how to draw basic uptrend and downtrend lines using fractal points. Trend lines are great for identifying breakouts and therefore, possible trade entry points... Read more »
