Candlestick Patterns – Morning Star
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Learning – When the Markets are Closed
Even when markets are closed there is great potential to improve as a trader. Here are a few options, aside from the obvious which is reading trading books (especially this one). Market Replay – Missed Sessions We discussed market replay previously (see here). This is by far the greatest tool available to you for after…
The Three Steps from TA Amateur to TA Professional
Amateur: Seeing price movement as simply… price movement. Step 1: Learning to see price movement as a result of a net orderflow imbalance. Step 2: Seeing orderflow as the result of individual trader decisions and actions. Step 3: Projecting forward to anticipate individual trader decisions and actions, within the context of market structure across…
When the Pullback Hits Harder than Expected
Pullbacks… a simple retracement structure depicted in textbooks as smooth flowing and simple to read. Reality though, is usually not so kind. Far too often these pullbacks will be a mess. Full of chop, false-starts and stop-outs. Or unexpected and sudden shifts in pace or volatility. Price action seemingly designed to confuse you and cause…
Stopped Out… But The Premise Remains Valid!
The recent Winning Through Losing Better series talked, amongst other topics, about the importance of pre-acceptance of risk. In particular the following: Pre-acceptance of trade risk means that I’m not overly concerned with the monetary loss and can keep my focus on the process of analysis and effective decision making. My focus remains on process, rather than…
A New Market Model – The Market Is A Self-Deception Mechanism – Part 1 of 2
Here’s a different way of viewing the markets and the game of trading, which I particularly like – the market is a mechanism for self-deception. This idea comes in part from the world of military strategy. Deception is a key principle of warfare, as stated by Sun Tzu in one of his most famous quotations:…
Counter-Trend Breakout Failure
I didn’t trade this; I typically stop my session around 2am. But it’s such a great example that I thought I should share it. (Yes… I get excited by price action!!! 🙂 Whatever you want to call this – turtle soup, pump fake, prairie dog pop – they’re a great setup idea. (a) price extreme (b)…