Year: 2016

 

Protected: Rewrite your psychology, else you’re doomed.

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Protected: What happened next with USDCAD

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USDCAD Daily in the kill zone

Good snipers wait in the bush – they watch their prey very carefully. They take their shot when conditions are right. Every sniper knows that s/he may miss their target. DISCLAIMER: The information provided herein is opinion only. Under no circumstances do any statements here represent a recommendation to buy or sell securities or make any kind of investment. You are responsible for your own due diligence. To summarise, we do not provide investment advice,Read More

The limitations of demo trading: of pain and gain

Demo or paper trading is very advantageous to new traders in learning much of the basics of financial trading. This site strongly recommends all new traders to blow up demo accounts of any size at least 5 times!! One of the issues with that, is that new traders may come to feel demoralised and then decide that they “can’t do this”.  Well that could well be true. Note however, that nearly every successful trader hasRead More

Where the big action is – 4H

This is a short one. Over the last 3 years I’ve come to appreciate – and more so in the last year – that the really big action is on the 4H time frame.  Yes – for sure there is even bigger action on the daily (1D) time frame on lots of markets/charts. But 4H is where most of it happens. 4H is also a good time frame for new traders and seasoned traders –Read More

Another look at stop-losses

Stop-losses are very important to all new traders. In this post I look at it more deeply. The infographic below is about fixed targets which are relevant to most types of trading strategies. It is not very relevant to trend-following methods. 

NZDCAD Long

I’ve been stalking NZDCAD for some time. It is a most interesting and challenging currency pair. In August I was stalking NZDCAD for a short. At that time there was a weekly zone of resistance. Now here at the end of November, the picture has changed. Sound traders shift their mindsets as new information emerges. I’m long on NZDCAD, having contracted to lose a controlled amount (alias stop-loss). This means that I do not know whatRead More

Blood bath on Wall Street?

For those who have been watching the US30 or the SPY or the DJI, there is some crazy stuff going on. The on the night of the Trump victory, the bears mauled the bulls – as you can see on chart below. The bulls rebelled within hours. The market rallied to a new high. But all is not well for the bulls. This could turn out to be a blood bath! I’m not predicting anything.Read More

Desensitisation, confidence and the crash

Following a winning run of trades a new trader is likely to think or feel, “I can do this!” This sort of feeling is like to come especially if they were big wins emerging from difficult trades that were not expected to win. We are human. There is that sense of victory over difficult circumstances – and a sense of improved performance or skill. However, many a new trader will have experienced a run ofRead More

Traps and perspectives

Perspective is everything if you’re a day trader. You may know you’re in a winning situation from what’s happening on the charts. But what lies lurking for you? How can you spot the traps? It’s simple but not easy: change your perspective. The following composite graphic shows how a failure to change perspective could have hurt. [Click on image and then zoom in for a clearer view] DISCLAIMER: The information provided herein is opinion only.Read More