Blogs By Professional Traders
You have probably heard it from someone–possibly even me in prior articles–and wanted to punch them in the face for not explaining what they meant. It seems like logical advice: “Keep your trading simple.” But what does it mean? Should I only use one indicator? Should I use no indictors? … more
The most recent Mondays haven’t been overly kind regarding my personal trading results. In fact, I know that over the previous two Mondays I have gone 0-for-5 ITM on my trading results. But today, I was able to start out the week well.
The first trade came at resistance … more
The MACD has a lot of uses, and one of them is divergence…one of the most misunderstood technical signals there is.
It is very common to read articles or analysis discussing divergence as a reversal signal, but tucked somewhere in the text is usually a disclaimer something to the effect of … more
I’ve broached this topic in the past during the course of my other posts, but only briefly and felt it would be wise to dedicate an entire space to it.
As always, I recommend that any individual trade at a time convenient for them and also one in which their … more
I did not take a trade last Friday while watching the EUR/USD given that nothing set up to my liking. But it was one of those days that could have turned out a lot worse if I was impatient and forced matters by taking trades that weren’t actually there. So … more
In his book S.C.O.R.E. for Life, Jim Fannin outlines 5 keys for achieving what you want. The focus of the book isn’t on trading, but the principles still apply. S.C.O.R.E stands for self-discipline, concentration, optimism, relaxation and enjoyment. Here’s my own adaptation of how these principles can be applied to … more
The key word here is “deliberately.” Many people just try to passively learn to trade, reading a few books and then jumping in to make some trades…hoping it works out. To deliberately improve means taking precise steps to foster self-awareness so issues can be spotted and addressed.
1. Get Help When … more
The market has been surprisingly amenable to a decent amount of trade set-ups recently. Normally, during the lower-volatility period of the mid-summer the market is at its most lackadaisical point. But for anyone looking for quality trade set-ups you definitely can’t complain about price movements backed by legitimate volatility. Needless … more
Support and resistance are one of the most basic forms of technical analysis. Like many other tools of the trade, being basic does not make it simple. Identifying and using support and resistance, S/R, successfully as part of your daily trading routine takes time and practice. I am … more
Immediately when I began looking at the market, the resistance 1 level of 1.36073 stuck out as the first price level to consider trading. The market seemed to be venturing toward it so I set my alarm a few pips above it and it triggered about ten minutes later. The … more