Truly Accepting Risk
Posted on 18 July 2011 | Comments Off
TRULY accepting risk means being in complete acceptance of the consequences of your trades “WITHOUT” emotional discomfort or fear. Many traders would disagree with that and argue that they have a right to feel discomfort when suffering a loss. Read more
Monday Full of Pull Backs
Posted on 12 July 2011 | Comments Off
If you trade the 15 minute pull back, hopefully you’ll have captured at least a few of these opportunities yesterday on EURUSD.
Remember that the KC is ONLY a visual aid. It is not some magical indicator! The KC helps you identify the 15 min trend, you wait for a pull back, watch for price action to indicate that the trend might be about to recommence, enter with limited risk and calmly accept the consequences – win or lose. Read more
Video of EURUSD 15 Minute Pullback (+30 & +14)
Posted on 29 June 2011 | Comments Off
The video below is 12 minutes long and I talk through my trade as it happens.
The entry (which was late) was based on a typical 15 minute pullback.
Read more
Scalping The Day Away & Bonus Trades to Boot
Posted on 23 June 2011 | Comments Off
I’m a scalper, day-in, day-out; and my objective is to secure small profits quickly, over and over, with a minimum of risk involved. Read more
The Making of an Expert – A Harvard Paper
Posted on 23 June 2011 | Comments Off
Having represented my country in sport, I always relate well to the comparisons of success between sport & trading. So I’ll introduce this paper by K. Anders Ericsson, Michael J. Prietula, and Edward T. Cokely, which was published by the Harvard Business Review, with an extract about competition. Read more
Behavioral Patterns That Sabotage Traders
Posted on 23 June 2011 | Comments Off
Brett Steenbarger looks at a number of psychological scenarios in life and trading. For the trader’s scenario he writes;
A trader has several winning trades in a row and, feeling confident, increases his size to take advantage of his hot streak. The position initially goes in his favor, but quickly reverses when large orders push the market lower. Forced to puke his position, he realizes he has lost all of the profit from his previous, winning trades.
He is driven to regain the money and reenters the market, only to get slammed by a second wave of selling. He now feels like he has entered a cold streak and begins trading hesitantly, with reduced size. By the time the market closes, he is down on the day and the week. He feels like a jerk for becoming overconfident after his gains.
Download a PDF of Brett’s full article here
EURUSD H4 Chart with Weekly Structure Back up
Posted on 15 June 2011 | Comments Off
The chart here is self explanatory.
Click chart to enlarge
The Best Traders & Everyone Else – Mark Douglas Lecture
Posted on 13 June 2011 | Comments Off
Mark Douglas has helped some of the biggest and best traders and institutions become more successful. His books are known and respected throughout the world of trading and in my opinion, it is a foolish novice who dismisses his teachings and continues to search for a better crystal ball. Read more
Top Day Trader Marty Schwartz Interview (1999)
Posted on 12 June 2011 | Comments Off
Day Trader Marty Schwartz spent a number of years in what he felt was a dead-end job as a financial analyst. Finally he quit the comfort of the corporate cotton wool and accumulated $100,000 of which he spent $90,000 to buy his seat on the American Stock Exchange in 1979. Read more
Trading Breakouts & Micro Trendlines
Posted on 30 May 2011 | Comments Off
A few years ago, Al Brooks wrote the article “Trading Breakouts & Micro Trendlines” for publication in FuturesMag.
You can also read this more recent article on breakouts by Al here
Bar-by-Bar Price Action Analysis by Al Brooks
Posted on 29 May 2011 | Comments Off
Al Brooks trades E-mini futures, stocks, and options for a living, has published books and articles on price action and is well known in the trading world. He provides excellent bar-by-bar analysis of 5 minute charts on his web site.
Find the archives with 100′s of charts that have been analysed by Al here Read more
Paul Rotter – One of the Greatest Traders on the Planet
Posted on 29 May 2011 | Comments Off
Moving from the Czech Republic (then Czechoslovakia) to Germany at the age of 9, Paul Rotter later made a start in finance as a trainee on the bond desk of a Frankfurt-based bank. He went on to become arguably one of the greatest traders in the world using 5 to 30 minutes charts. Read more
GBPUSD 15 Min Bearish Intraday Chart
Posted on 24 May 2011 | Comments Off
Here’s a GBPUSD 15 min chart showing a supply zones being revisited for the first time along with a number of other clues that encouraged me to aggressively go short at the very high price of 1.6203 after the market gapped up. Tight stop, to protect against the risk of the market going against me. Read more
EURUSD H1 Bearish Intraday Chart
Posted on 24 May 2011 | Comments Off
I haven’t posted many charts in recent months as I’ve been more focused on writing about psychology. However here’s one that might be of interest because of the blend of factors that make up the picture.
I’m short (intraday) at 1.4125 with a very tight stop, to protect against the risk of the market going against me.
Read more
Deutsche Bank Research on High-Frequency Trading
Posted on 15 May 2011 | Comments Off
The terms “algorithmic trading” and “high-frequency trading” are frequently mixed up in the public debate. In contrast to traditional trading strategies, high-frequency traders do not aim to establish and hold long-term positions. Rather, they enter into short-term positions and end the trading day “flat”, i.e. without carrying over significant positions to the next business day. Algorithmic trading strategies, on the other hand, typically aim at reducing the adverse market impact of large-sized, institutional orders. - Deutsche Bank Research (Feb 2011) Read more
29 Ways to Successfully Ingrain a Behaviour
Posted on 14 May 2011 | Comments Off
Every web site book and trader out there will tell you that you shouldn’t do this and should do that. It’s even easy for the worse traders to give you some of that good advice. But the undesirable habits are not easy to change and the challenge of replacing the bad habits with good habits is what separates those who practice and those who only preach. Read more
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