You need to get your mindset off that crap logic where 0.5 points in any macroeconomical aggregate would make you think an asset would have gone in this/that direction. Stop trading news, and trade charts. It took me 5 years to realize that, and I ...

After rate hike, why is the EUR/USD hiking up?

Dont trust your system blindly - don't even trust at all - there's no trust in markets, trust is an emotion - INSTEAD, trust your strategy. Mandatory stop losses, unmovable like a mountain, precise if possible, and ofcourse give it some space to ...

Learning how to lose money

Entry I just took 30 mins ago, a bit higher than it's shown in the chart.

Price action and pattern trading

Will just move SL to today's candle's lowest value - should be enough for starters, I expect a higher close than 17.70 by the end of trading session. Close above 17.85 - will put a trailing of 30 cents large.

Price action and pattern trading

This trade is definitely over on to Boston Scientific - need to setup a nice trailing, still thinking how much would be viable...

Price action and pattern trading

Hello, as much as charting and technical/fundamental analysis seems important, I would recommend every trader to read "Trading in Zone" by Douglas. From there, getting into mathematics (techs) or into assets/liabilities (fundamentals), is just a ...

Recommended charting books

You absolutely, as a new trader (even if you're experienced), have to remove your mindset from real money/percentage targets. It is dangerous, and you will fail very likely. Think of your account as an entity which doesn't like being told/suggested ...

Realistic Monthly Trading Profit?

Broker was Charles Schwab. Yes I believe so, or at least that's what he said. I remember him saying he went on an interview with them, and intermediary was a person from the brokerage. After the interview he decided not to accept the job.

How do you get hired as a professional trader?

Also, there are brain chemistry studies which show the equal amounts of endorphine and other hormones excreted while we are losing and winning. I'll repeat - our brain, on chemical level, perceives winning same as losing. Mentally, it translates ...

Learning how to lose money

Just a small part of my post from before on some other thread: I've just made the main sentence in bold. "One more thing, regarding stoplosses - when you start moving it around - ask yourself why are you doing it. That being said I'll point to "b)" ...

Learning how to lose money

I know a person who has, in his way in becoming a full time trader, eventually got an offer to work as a hedge fund manager. That same person has a doctorate in philosophy. He didn't take the offer, I think it was due to the discrepancy between what ...

How do you get hired as a professional trader?

Here's an entry I didn't notice on Friday, was working all day and had additional obligations. Hope picture says it all. This entry would be ideal with vertical option spread, limiting the loss and profit alltogether. If it opens with a gap up on ...

Price action and pattern trading

Liked your post Diceman, if I can expand it a bit... Wannabe traders should realize that trading is not different than life itself - the reason why some (or majority) of traders fail is the fact they don't treat trading same as life (or they treat ...

Is Forex trading worth it? If so, why?

Stay away from words (if i had a nickel for every time I said this): profitable, 100%, success, 75%+, news "feeds", "know how", skyrocket, etc... Look for words that don't sell: consistent, patterns, reliability (NOT high reliability), beginner's, ...

Price action and pattern trading

I just answered on a post from page 1 - apologies

Price action and pattern trading

Yup, seems valid long entry. Try to assess stop loss level to make some sense - i.e. figure it our as a price level you don't want to see tested again. Close above those lines you drew are all long signal(s). TP is at next resistance which might be ...

Price action and pattern trading

Picture tells thousand words - well maybe not thousand but I could write alot more, this is just my point of view.

Price action and pattern trading

This is what we look for as a confirmation of a "risk on"...

Price action and pattern trading

Bullish trend might be for a day and then it might fall again. It might fall right away about now. It might go to 180.00 next week. It might go for a lower downtrend next week. It might do gazillion things of which we shouldn't be interested - what ...

Price action and pattern trading