Every trader should have a trading plan. The saying: ‘If you fail to plan, then you plan to fail’ might be a cliché, but it is none-the-less still very valid. A good trading plan should start with a general outline, and then broken down to specifics. I personally, have a general trading plan, as well as a journal which I use to list my trades, and the specifics regarding setups. For my swing trades, I also note daily developments. Doing this is useful to be because it helps me to later evaluate my trading plan. Here are some guidelines to follow: Read more »
Down and down it goes, where it stops nobody knows.
Strange title I know, but this is about the art of "laddering orders in an attempt to peg the best price towards the bottom. You see, I don't know where this will stop, but I want it, and that is all that matters to me. Read more »
What are the makings of a good scalp trade?
Hi folks, a fellow trader just emailed me with some serious questions about proper scalping methods and management. I thought I would just capture the charts and the potential trade and put it right in here for a good example. This is just one example of certain things I am looking for. Take a look [...] Read more »
Its going up, why are you shorting it?
Shorting euphoria. Why should we do this? I am often asked in the trading room why I am shorting something that is spiking "to the moon". I have to re-explain it every time. Read more »
How do I know where to put my stop?
Today I want to go over an article with you about STOPS and their use and more importantly why I don't like them... Read more »
Forex Gap Trading Plan – Part 4
In Part 1 of this series, we discussed what the gaps are, how and why they form, and what you need to take advantage of them. In Part 2 we discussed how you, the trader, can determine where the gap is and whether a trade is possible. In Part 3 we discussed my rules and suggestions for entering a gap trade. In Part 4 we will discuss how to manage the gap trade. Read more »
Forex Gap Trading Plan – Part 3
In Part 1 of this series, we discussed what the gaps are, how and why they form, and what you need to take advantage of them. In Part 2 we discussed how you, the trader, can determine where the gap is and whether a trade is possible. In Part 3 we will discuss my rules and suggestions for entering a gap trade. Read more »
Currency Trading Training: Choose Wisely
There are many different types of currency trading training available for people looking to improve their knowledge and expertise in this field. The key is to find the training that will best suit you and your specific level of experience. Read more »
Forex Gap Trading Plan – Part 2
In Part 1 of this series, we discussed what the gaps are, how and why they form, and what you need to take advantage of them. In Part 2 we will discuss how you, the trader, can determine where the gap is and whether a trade is possible. Read more »
Forex Advice: Who Should You Believe ?
Forex advice is pretty easy to find nowadays. There are plenty of people that are willing to share their knowledge with others and to help them become profitable traders. In fact this can be a problem in itself as there is now too much information available which can then make it hard to know who to trust and what to believe. Read more »
