Trader Blog

Tips For Using Support And Resistance

Aug. 20, 2014

This is a compilation of tips and tricks I know for trading with support and resistance lines. The tips range from where to draw the lines, to how to confirm the lines, ways to trade and how to derive some targets. For more information on what, why and how support and resistance lines work check […]

Assessing Close Calls: Determining what Trades are Worth Taking

Aug. 19, 2014

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 past and have a […]

Closing out the Week with Two More Solid Trades

Aug. 17, 2014

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 in that repeating the […]

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

Aug. 15, 2014

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 effect. This makes things […]

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

Aug. 13, 2014

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 price movement and overall […]

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

Aug. 12, 2014

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 poor trade results, […]

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

Aug. 11, 2014

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 back down went about 4-5 […]

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

Aug. 09, 2014

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 172.21. Recently in my […]

What Is Resistance And Why Draw Resistance Lines

Aug. 08, 2014

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 is said to be resistant to higher […]