Multiple Time Frame Analysis, or MTA from here, is a well recognized form of technical analysis and one used by nearly every trader, even if they don’t realize it. I speak and write of it often, as does Cory, another of BONETS pro traders. While not a requirement for success, it is a strategy that […]
Not physically choking, but rather how do you avoid messing things up when the stakes are high, as they can be with trading? Research at Caltech found that our brains are wired to experience a decrease in performance as incentives rise. This is contrary to what most of us would intuitively think — “Pay me more and […]
When I first started golfing about 20 years ago I had to make a lot of improvements if I wanted to become good. I read loads of books and then would go to the driving range. At first I became even worse as I tried to think about the hundreds of things I was supposed […]
July 24, 2014 Oftentimes, the biggest hurdle any trader has in becoming successful at the pursuit is overcoming himself. The ability to manage one’s own mentality is instrumental in determining whether one can become successful over the long-run. You may have heard the assertion that trading is “1/3 strategy, 1/3 money management, and 1/3 psychology.” […]
July 23, 2014 The EUR/USD was stuck in a rut during Wednesday’s trading and nothing looked even remotely close to providing a solid trading opportunity. So I hopped over to my back-up pair, the GBP/JPY, which did have some interesting action going on. And just as a side note before jumping into the heart of […]
You’re trying to juggling watching multiple charts and you find you are missing trades because there is too much going on. Or maybe you are watching several assets but only want to buy the strongest or sell the weakest. In either case, to make life easier, you can watch multiple assets on one chart using […]
I know, I know, all of you who have read my previous posts are thinking, “didn’t he say that Fib’s are not signals?” It’s true, I have and it is correct. Just because price action has reached your Fibonacci Retracement level it does not signal an entry. You must wait for a signal/confirmation from other […]
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? Should I only buy on […]
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 1 – 1.35427. In the […]
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 “But divergence can last […]