This is going to be an interactive post I would like to get as much participation as possible because I believe that by being involved it will help you take the actions that are necessary to get you into profitability. Read more »
Before You Trade: Have a Plan
Before you click that button to enter a trade, have you made sure that you are not just entering on emotions? I think you can probably relate when I say that the majority of traders fail is because they are not executing their plan or they have no plan at all. Read more »
A CREATIVE SELF-EVALUATION METHOD
Our success as traders is largely dependent on how well we recall past trades, and are able to make an evaluation of our performance and thereby make changes where necessary. Often, as is human nature, we try to forget our mistakes and move on. Ironically, though that human trait tends to work against us in the market. If we can’t recall why we made an error, then it follows that we will be prone to making the same errors over and over Read more »
EURGBP TRADING PLAN
Eurgbp had been trading in a weekly range for an extended period, and was only recently breached, back in March. It has started showing some bottoming action at the weekly trendline following the pullback to retest the breakout level at .8610. The weekly trendline also converges with major previous lows (indicated by horizontal line on chart below). The 4-hour chart shows a strong bounce off Read more »
Forex Trading: The Process…
A plethora of articles and books have been written on what do in order to guarantee success in Forex trading. Here is my take on it: As a Forex beginner, make sure you educate yourself and get a good grasp of the basics of Forex trading; Educate yourself on different trading strategies Read more »
USDJPY Trading Plan
The Jpy pairs have come a long way since the incredible drop that took place weeks ago, following the Japan disaster. The Usdjpy in particular breached significant resistance to close above the pennant range resistance line on the weekly chart at the 86.60 level. In my opinion, there is now real potential for significant follow Read more »
Managing Emotions In Trading
It is certainly not news when I say that emotion is counter-productive when it comes to trading. However, we are all humans, and it is usually a constant struggle to control our emotions. They are there to stay, hence the topic of this article relates to managing those emotions. I refer both to the negative, and also Read more »
My First Forex Trading Plan
Goal of my trading plan: Make enough money trading to pay my college tuition. Read more »
USDCAD TRADING PLAN
Usdcad has started showing some bottoming action after having fallen back to .9860 lows from the down-sloping trendline on the daily chart. If this support holds, there is potential for double- bottoms on the daily. In the meantime, I am on the look Read more »
MY GBPCAD TRADING PLAN
My bias on the Gbpcad is to the upside, simply because of the signs on the signs that are indicating that the weekly range support might be holding. However, I will examine the lay out my trading plan for both bullish and bearish trading opportunities, should they play out. First, in reference to the weekly chart, the close presents a doji with an extremely long wick to the downside. This closed just above the support of the range, indicating Read more »