Letting Winning Trades Run – Trading Your Plan It’s one thing planning on having a specific target or risk reward prior to entering a trade, but another thing altogether to see this trade idea through to fruition. The problem is that our thought process can be distorted after entering a trade as we become more…
New Year’s Resolutions – How to Achieve Your Trading Goals We are fast approaching the New Year, the traditional time for reflection and goal setting, as we look to improve our health, wealth and happiness. With the best intentions in the world, the unfortunate truth is that most people just don’t manage to stick with…
Contrarian Trading Approaches - Fading The Breakout This is the first in a series of posts giving an overview of various contrarian price action trading strategy examples; some of the examples we cover show scenarios where traders may look to fade the obvious move. The contrarian forex trader may for example be looking to buy a declining…
Forex Price Action Trading What Is Forex ‘Price Action’ And Why Do Discretionary Traders Follow It? The two primary approaches used to analyse the forex market are fundamental and technical analysis. Price action is associated with technical analysis trading but without the use of “lagging indicators” as a primary decision making tool. Indicators are essentially…
Enhancing Trading Performance Through Meditation (Forex FX 4X Articles, Trading Mind, Psychology and Discipline) Stress and mental pressures are an every day reality of trading the forex market. Our ability to deal with these challenging emotions can have an impact on our bottom line. How do you deal with losing trades? How do you feel…
Trading Quotes Well thought out quotes can inspire and educate. These short inspirational quotes are some of our favourites. Quotations like these can provide inspiration through words of wisdom from others who may have experience in areas we don’t. You may want to spend some time compiling a list of trading quotes for yourself, or…
Big Round Numbers – Trading Strategy Scenarios This article will look at the London open on Friday 21st September and how the EUR/USD was trading around the big round number 1.3000. The price action and order flow dynamics gave a few interesting setups which fit in with my favoured approach towards trading the markets. You…
Inside Day False Breakouts (Forex FX 4X, Trading Strategy Ideas, Price Action) This post will expand on our inside day tutorial with a look at the false breakout strategy. This is something you may want to test yourself and paper trade to see if it complements your existing approach. As ever, this is not a…
Pin Bar Tutorial An underlying tenet of discretionary price action trading is that historical data can be utilised to help gain a directional bias for a given instrument or asset class. In fact proponents of this approach believe the interpretation of price movement remains roughly the same as long as a sufficiently liquid instrument is…
Forex Market Sentiment Technical analysis has become increasingly popular for aspiring traders. Ask any relatively new trader what a Fibonacci extension is and there is a pretty good chance you will get a reasonably accurate answer. However, one area that does not always receive the attention it deserves is market sentiment. Markets move continuously between…
The Correlation Between Crude Oil And The Canadian Dollar Traders are constantly on the look out for shifts in market sentiment; inter-market correlations are another area that require attention, especially when looking at exchange rates from commodity exporting countries. Currency rates and oil prices are both asset prices which typically respond almost instantly to developments in Financial…
Do You Have A “Black Swan Robust” Trading System Nassim Taleb – What Can Forex Traders Learn From The Black Swan” and Fooled by Randomness? Are you familiar with Nassim Nicholas Taleb and his published work? Taleb has pretty much seen it all as a hedge fund manager, a Wall Street trader and writer of two books…
Forex Confluence Trading Example - AUDUSD Setup This post will run over the AUD/USD price action from today (31/7/2012) with a particular focus on a high probability trade setup that presented itself. We have published numerous analysis posts on the merits of confluence when trading the forex market and this was an excellent example. Many…
Actionable Trading Strategies of Top Market Pro’s – Ebook This ebook is called “Actionable Trading Strategies of Top Market Pro’s” and was written to provide traders with actionable strategies from industry leading trading educators, analysts and traders. This is not just a forex ebook, it can be used to gain new ideas for any instrument or…
Over-Trading The Forex Market - Are You Following Your Rules? The general who wins the battle makes many calculations in his temple before the battle is fought. The general who loses makes but few calculations beforehand. Sun Tzu Over-trading is one of the biggest account killers out there and a common mistake made by Forex traders…
Too Busy To Trade In this article we will look at a scenario which takes place frequently with a large number of traders. Does anything in this post remind you of yourself? You are sticking to your trading rules and the plan you put in place for building an account. You suddenly find yourself with…
Day Trading With Price Action And Multiple Timeframe Analysis It is not uncommon to see people new to the business of trading try to utilise 5 minute charts and experience numerous losses in the process of doing so. This is not to say that trading higher timeframe charts is a simple path to success –…
Trading psychology is predicated on first having a profitable methodology (Forex FX 4X, Trading Mindset and Trading Psychology, Guest Post) The following is a guest article from Hanover who I would like to thank for this excellent trading psychology post. A mountain of literature has been written about trading psychology, and that oft-heard ‘d-word’: discipline….
Stop Loss Hunting And Forex Order Flow Do you ever ask yourself “is the market chasing my stop loss?” Have you adapted your trading strategy to exploit the weaknesses in other traders systems and the forex order flow? Many traders feel that the market is hunting for stop losses. They may well be right… I’m not referring…
The Dollar Index What is the dollar index? The U.S. dollar index consists of an average taken from a basket of foreign currencies versus the U.S. dollar and is often referred to as the USDX. We find this to be an invaluable tool when trying to gauge the overriding greenback strength versus the major currency…
