One of the great things about being involved in trading education is that it provides me with the ability to chat with a LOT of developing traders. Common themes appear over time. This is one of them… “Can you review this trade. It’s a trade idea which I thought was good, but it just…
Did you know that there is a whole ‘other world’ of technical analysis that most novice traders are either totally ignorant of, or fear to go due to the fact that it might actually require some work? Well, there is! And I’d suggest that if most novices fear to go there, then perhaps it might…
The nature of the markets is uncertainty. Human beings do not like uncertainty. In fact we fear it at the very depths of our soul. Much of our society has evolved in an effort to reduce the uncertainty we face in day to day life, through controlling the environment, and implementing a structure of laws,…
One of the common email questions I get through my website relates to difficulties in sticking with stop losses. Some traders don’t place one in the market at all, promising that they’ll get out when price hits a certain level. Of course, when price gets to that level there’s no shortage of reasons why they…
Despite all the hype from the internet marketers who try to sell you the latest trading ‘secrets’, the fact is there are NO secrets. Identify setups which provide the potential for lower risk and/or higher probability trades. Enter and manage those trades in a consistent and disciplined manner. Minimize risk. Manage your money. Manage your emotions. Journal…
I had an interesting chat recently with a subscriber about the current ‘financial meltdown’, which addressed two main areas of conversation that I felt would be worth sharing via my website and newsletter. What are my thoughts on the financial crisis, and how do I trade the news or allow news to influence my trading?…
Situational Awareness is a concept which has been instrumental in shaping how I conduct my market analysis. Many of you may not have heard of this concept, so I thought it would be good to provide a brief introduction today. And if there’s interest from readers we can go a little deeper into the topic…
Yeah… I’m serious! Rock Paper Scissors! I know all the other trading educators are talking about poker and the lessons it provides in position sizing and trader psychology. I’d love to sound really cool as well and talk about No-Limit Hold ’em, or Aces over Kings, or all manner of other great-sounding terms. But the…
Let’s say you had to buy or sell the MHI (mini-Hang Seng index futures), based on the following 1-minute chart. Which would you choose? Take a second or two to make your decision before reading on. Ok, let’s conduct some analysis to find the right answer. And because we all love indicators, we’ll place…
I’ve received a great question in response to one of my old videos at YouTube: lots of traders criticize indicators (and correctly so, apart from the moving averages and RSI, I don’t find these oscillators or macd good) and prefer price action.. what exactly IS price action, I mean, what methods would you categorize under price…
