Blogs By Professional Traders

Assessing Close Calls: Determining what Trades are Worth Taking

August 18, 2014

Even for those with plenty of trading experience and have had a pretty good period of consistent success, there are often times in the market when you debate about whether a set-up is worth taking. You can have had been exposed to thousands of market scenarios in the … more

Closing out the Week with Two More Solid Trades

August 15, 2014

Another day of trading the GBP/JPY. The EUR/USD is my standby as I’ve mentioned, but changing things up a bit from time to time (as in trading a different, but not totally different, asset) can be okay. Monotony is trading is actually a good thing to some degree … more

Hopping into Trades Going with the Trend – Examples (3/3 ITM)

August 14, 2014

The EUR/USD was uninspiring to start the day so I looked over at my back-up pair, the GBP/JPY, to see if the action was a bit more appealing. No pivot points were in play due to the large trading range from yesterday, but there was a downtrend in … more

A Basic Look at How to Differentiate High-Probability from Low-Probability Trade Set-Ups

August 13, 2014

In the past, I was more aggressive in my trading in that I would often take trades on the first touch of a particular price level. But this still did not mean that I would only trade just a price level. Just because a particular pivot point is … more

Another Pivot Point Trade in Addition to Two Non-traditional Ones (3/3 ITM)

August 12, 2014

Tuesday was more EUR/USD trading once again. It’s definitely my favorite pair/asset to trade given how consistent it happens to be overall. Consistency is always a good thing in trading, as familiarity and proper habit setting can help breed success. The EUR/USD is always good for pretty solid … more

Monday’s Trading of the EUR/USD – Attention to the Trend

August 11, 2014

Heed the trend

Having consideration for the trend is a large part of trading successfully. Ideally, all “newbie” traders should adhere to the idea of not necessarily trading with the trend, but rather not trading against it. It’s the best way to at least ensure some degree of avoiding … more

EUR/USD Trading for August 8, 2014 (2/3 ITM)

I started watching the EUR/USD around 2AM EST, and immediately the thing that popped out was the pivot level working as a robust price level. During a 25-minute stretch leading into the open of the European session, the pivot was tested but held pretty well along the line. The retracement … more

GBP/JPY Trading and a Brief Discussion on Losing Trading Days

August 7, 2014

The GBP/JPY had a big spike up ahead of the European open before once again re-settling below the pivot level of 172.305. Just ahead of the 3AM (EST) hour, price began consolidating into its own channel and by 3:10, a distinct level of support had been created along … more

What Is Resistance And Why Draw Resistance Lines

Resistance lines are one of the basic tools of technical analysis. They are lines that denote areas where price action is likely to pause, stop or reverse. Why is this? It is because they are areas on a chart or price levels where the market is selling and … more

What Is Support And What Are Support Lines?

 In a previous posting I began a series on support and resistance. In that article I laid out two basic rules for support and resistance lines that all traders should follow. These are 1) S/R lines are not a signal, they are places where signals are likely to … more

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