10 STEPS TO CREATING YOUR FIRST TRADING STRATEGY

Most new traders start by learning the trading strategies of other traders. I began my trading career this way as well. But, many traders ask, how do I get started with my trading strategy? The good news: Creating your first trading strategy is easy. The bad news: Creating a profitable trading strategy is hard. Start with the right expectations. Forming a trading strategy...

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What Kinds of Drawdown Should You Expect?

What Kinds of Drawdown Should You Expect?The drawdown in your portfolio will typically be correlated to the level of risk exposure of your trading strategy. If your strategy is systematic, you can base future drawdowns on historical maximum drawdowns. If you are a relative value trader, who is looking for a currency pair to rebound after a substantial dip, then you should...

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Focus on the Trading Process not the Money

It may seem a contradiction to say that you don’t want to pay attention to the profit of a trade.  In fact, many of you might be saying that this guy must be smoking rope to say that profit is unimportant.  Well, to clarify, that is not what is being said.  Of course, profit is one of the main reasons why you are involved in trading in the financial markets. However,...

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Weekly Forex Analysis | UsdJPY April 17 to April 21 2017

Flight-to-safety buying helped drive the Dollar/Yen sharply lower last week as investors responded to geopolitical risks, falling U.S. Treasury yields and negative talk about the value of the U.S. Dollar by President Trump. The USD/JPY closed the week at 108.606, down 2.434 or -2.19%. Throughout the week, the driving force behind the weaker USD/JPY was possible U.S. military action in Syria and North Korea, and a resurgence of a previously written-off...

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Weekly forex outlook 4 April 2017 to 7 April 2017

Weekly forex outlook 4 April 2017 to 7 April 2017&nbs...

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Marcel Link's book Trading Without Gambling

I have read lots of trading book. Some are good some are hard to understand some are present in a way so that people like the book. There are lot of trading books expert trader recommend. I have read most of popular trading book if not I will read them in future.  Today I will talk about a book that is easy to understand and excellent book to me. I quite like the books...

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3 Important Reasons Why You Should Be Trading Price Action

1. Price action represents collective human behaviour. Human behaviour in the market creates some specific patterns on the charts. So price action trading is really about understanding the psychology of the market using those patterns. That’s why you see price hits support levels and bounces back up. That’s why you see price hits resistance levels and heads down. Why? Because...

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WHAT IS PRICE ACTION?

WHAT IS PRICE ACTION? This is the basic definition of price action trading: When traders make trading decisions based on repeated price patterns that once formed, they indicate to the trader what direction the market is most likely to move. Price action trading uses tools like charts patterns, candlestick patterns, trendlines, price bands, market swing structure like...

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INTRODUCTION PRICE ACTION

To really understand price action means you need to study what happened in the past. Then observe what is happening in the present and then predict where the market will go next. “Regardless of what you may think, all traders are forecasters, just like the weatherman.”  The weatherman knows where the wind is blowing from, sees the high and low pressure systems forming...

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INTRODUCTION of TRADING PSYCHOLOGY 2.0

■ Adaptability. To a person, the best traders were adaptive and flexible. They were sensitive to market environments and altered their trading to fit changing landscapes. Often, they would quickly alter their risk exposure, sensitive to occasions when market action did and did not confirm their expectations. Even more broadly, they adapted to changing market regimes by...

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The 5 Steps to becoming a trader

Step One: Unconscious Incompetence. This is the first step you take when starting to look into trading. You know that its a good way of making money because you've heard so many things about it and heard of so many millionaires. Unfortunately, just like when you first desire to drive a car you think it will be easy - after all, how hard can it be? Price either moves...

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TMP System

General Guideline of the System  Rules 1- Trade with ema direction  Rules 2- enter with macd signal with theema direction (short term macd) Rules 3- closely observe the 2 macd. if long term macd is red and short term macd is green wait for short term macd to become red then open trade. For buy just opposite.  Rules 4- Don't open trade if at list...

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Trading Plan Content

1. Your personal skill assessment- Are you ready to trade real money? Why are you ready? Can you follow your plays without hesitation? Have you defined the criteria in writing of when you will start trading with real money? 2. Mental preparation- How do you feel? Are you rested? Have you had any mental or emotional traumas recently? Under what mental and emotional...

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