Coffee in one hand, cigarette in the other, I watch the candles move. They blur, taking on a life of their own as the monster breathes. Uptrend, downtrend or ranging; the candlesticks remain in continuous motion as this beast meanders along its path. Regardless of the speed, volume or movement, rest assured (or not) the market makers are pulling the strings, because it is they who control this beast. Read more »
New Forex Resolutions
"If we don't change, we don't grow. If we don't grow, we aren't really living." Gail Sheehy As we approach the end of one year, and the beginning of another, countless persons are no doubt in a reflective mood. We get ready to make resolutions to make significant changes in our lives. Although New Year’s resolutions get a bad rap for lack of follow-through, it is non-the-less important to aim to improve our lives on an ongoing basis. This means that we Read more »
Wisdom from a Future Forex Millionaire
I received this email today from a valuable member of our trading room. I've seen him in the room go from asking "newbie" questions to providing his own (accurate) pair analysis. He will reach the seven figure level in due time as long as he keeps up this kind of progress and discipline. With his permission, I'm sharing this because I really feel this will be of value to others. Read more »
Watch The Risk!
The setting of profit targets is one of the most neglected elements of trading. Some will establish a target initially and then promptly forget about it when the market conditions change. For instance, during a slow period they will adhere to their targets, but then when the market seems to be offering a multitude of trading opportunities, emotions, particularly greed, tend to take over. This is one crucial aspect of trading psychology that needs to be acknowledged and developed as a habit from the outset. I regard it as a basic trading survival Read more »
Forex Trading Rules To Live By
This Forex business is a serious one indeed. Isn’t it funny how breaking your rules ‘just this once’ can cause things to spiral out of control? Not funny at all. We as traders have the odds stacked against us as it is. Our rules are the only thing that keeps us grounded and prevents us floundering. Read more »
A Great Way To Build Self-Discipline in Trading
Losses in the market are unavoidable, but there here is a way to help us to stay in the game in spite of possible strings of losses. This is also a good way of building the all-important self-discipline, and also to avoid the negative emotions of that accompany a fast-dwindling account balance. This is important for the seasoned trader, but especially so for the Forex beginner, as he attempts to build trading survival skills. Read more »
Professional market manipulators!
WOW, what happened today huh? Well, if I was "Goldie" (Goldman Sachs) and I knew that I was going to release a report like they did today ( and they knew) I would work may way in to a rather large dollar short position across the board (my guess is they did this 24 to 48 hours in advance). For no sooner did they time that just right, but the market shot up like crazy against the dollar. Euro, pound, AUD. simply amazing. It is my belief that these people are TRADERS (gasp!) and that they have unusual insights into the markets because of their rather large team of the "brightest and best" in the world. Not to mention their deep pockets. And, as traders, with a STRATEGY, they executed it flawlessly! checking out the following chart we can see that there WAS a nice failure at the neckline of the 4 hour H&S (inverted) setup. Prompting some to enter fresh shorts with stops just above. Read more »
