This past weekend has been quite a journey. Having a break from live trading has given me a chance to really go back over my plan and dig deep into the underlying psychology that influences our decision making. Because trading excellence comes from making good decisions and avoiding bad ones. As you probably already know ...…
I’ve decided to open an account with Myfxbook to publish the results of a demo account I’m trading. Live trading is on hold for a bit after a bit of over trading. Nothing serious but a rule I have in place to prevent over trading and resulting losses has landed me in the demo “sin ...…
I’ve had a few problems with over trading lately. This happens from time to time so when it does my trading plan tells me to stop all live trading for a month and just watch from the sidelines. If I see an absolute no brainer setup I’ll take it on a demo account and see ...…
Here’s a pretty simple looking setup that presented itself last week. How it plays out remains to be seen but I found it worth risking 2% of a 5 figure live account on. The daily chart shows an inverse head and shoulder pattern but what caught my eye was the level that makes up the ...…
I don’t trade the news but I do watch it. Knowing what’s coming up and staying out of the market when things get too choppy is part of my plan to make a good living from trading over the long term. I think the gaps on EUR/USD and the dollar index count in this case. ...…
Today I got another email calling a bottom in gold. For the last 2 years people have been talking up gold going to $2k, buy the end of 2011, then the end of 2012 – and now they’re calling $3k… All the while when I look at my charts I just see it heading down ...…
I don’t usually trade the news – especially not the NFP but when I’m holding a longer term position it’s nice to see it jump – especially if it’s in your direction Usually the monthly Non far Payroll announcement is just a ‘popcorn’ event where I will watch and feel smug about not gambling on ...…
I thought it was Christmas for price action trades this morning when I saw these. EUR/CHF 1. EUR/CHF – I was toying with buying EUR/USD but when I saw this I decided that if the EURO was going to have a good week I’d rather have a solid price action signal to go with it. ...…
These last couple of weeks have seen some quite choppy action with EUR/USD As always this pair offers up a lot of nice opportunities which can be traded for a nice profit when approached correctly. A few weeks ago I posted up a video detailing the inverted head and shoulders pattern on the weekly ...…
When you’ve got yourself established with a good trading plan and edge it’s nice to get into a decent setup where all you need do is pull the trigger and follow your pre-planned strategy without dithering or wondering what to do if certain things happen. Of the many problems inexperienced traders face one is not ...…