Many new traders find difficult to follow their trading rules. Have you ever wondered why?
There is more than one reason behind this common issue. The most important is a lack of self-confidence and a lack of confidence in their strategy. These traders tend to break these rules because of the circumstances and the uncertainties surrounding them. [click to continue…]
I can make a big list. A list that would make this post the longer piece on this blog. A list that includes all the web sites that offer shortcuts to make quick money with trading.
But I expect none of them to work. At least not to work as they are sold. Surely there are very few gifted, successful traders that make a fortune quickly and without efforts, but those are black swans. And those success stories are not replicable. [click to continue…]
In this latest edition of the Classical Chart Patterns Report I reviewing ongoing trends and special situations in Canadian Dollar, Euro, the Australian Dollar, EUR-JPY, Coffee, Soybeans, Brazil equity Index ETF, Japanese Small Cap Index. Also potential breakout in Eurodollar, Gold, AUD-NZD are discussed. [click to continue…]
If you trade chart patterns you should consistently analyze and keep track of those patterns that in the last weeks and months generated the best outcome out of each of trading setups. Make this analysis part of your daily or weekly routine.
By trading setups I mean the rules that you should have written down in your Trading Plan, not vague concepts or, even worst, opinions. [click to continue…]
After few quite frustrating weeks with lack of follow throught and lot of volatility, the past week the markets we are following in this report were trending better. The Pound and the NZ Dollar negated my chart interpretation, while all the other markets play out as expected. No new trades were made in the last 5 trading days.
This weekend I have some new setups that may offer nice trading opportunities for swing and position traders. I’m referring to December 2016 Eurodollar, EUR/JPY, China and gold miners. [click to continue…]