Weekly Trade Commentary: 21st Oct 2012

The US Dollar Index made a higher low at 79.0, which is essentially a higher low compared to the low on 14th Sept. At the same time, price made a double top at 80.2 (as mentioned in last week’s commentary). Until price makes a higher high, the Index has no clear direction. My watch list…

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Trading Quotes #2 – Marty Schwartz.

“I always laugh at people who say “I’ve never met a rich technician” I love that! Its such an arrogant, nonsensical response. I used fundamentals for 9 years and got rich as a technician” – Marty Schwartz.

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5 Important Ingredients required for an Effective Trading Plan: Part 1 – Introduction

This is Part 1 of a Special 5 Part series on how to write an effective trading plan. Before you start, please go through the Glossary at the bottom of the page. For related articles, please see: Part 2 – #1 Know Thyself Part 3 – #2 Motivator Part 4 – #3 Routine Part 5 –…

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Triangles are Powerful Trading Patterns

Related Articles: AUSUSD in a Triangle: Wonder Where It’ll Breakout To EURUSD Indecisive Mode The following charts are: AUDUSD on 60min chart (Click on image for Larger View) EURUSD on a 4 Hr chart (Click on image for Larger View)   This is just a quick email to follow up on the 2 Triangle Patterns…

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The New Market Wizards: Conversations with America’s Top Traders by Jack D. Schwager

My View This is a fantastic book for both Novice and Professional traders. The book is a compilation of interviews with American Top Traders. More importantly, Jack summarises the various lessons from these traders. It’s a steep learning curve for many but this book is a great place to help us refocus on what matters.…

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EURUSD Indecisive Mode

There are times when traders need to be patient and there are times when traders need to be decisive and act. Today, I’m sitting on the side while I await Price Action on EURUSD to make it’s decision. The following is a EURUSD 4 Hour chart. As shown, this is another classic indecision pattern which is…

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Video: How to take Massive Actions using the Right Belief Cycle – Tony Robbins

Great show by Tony Robbins on how to take Massive Actions using the right Belief cycle. Lesson for me is this, use mental rehearsal to go beyond “belief” into the “certainty” zone. Have a great day!  

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Weekly Trade Commentary: 14th Oct 2012

Related Ariticle: Commentary on 7th Oct 2012 The US Dollar is not showing any clear directions. It made a double top around 80.2 and ended the week with a higher low. It looks like a classic Triangle is forming. I’m going to be careful with any USD related pairs in the coming week. My watch list…

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How Great Traders Manage Their Multi-Dimensional Roles Effectively

A successful and consistently Profitable Trader has multi-dimensional roles to play. More than that, these traders make a conscious effort to learn, understand and manage each role carefully. What do I mean by a Multi-Dimensional Role? In this article, I will first give a very brief snapshot of the various roles required to be a…

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AUSUSD in a Triangle: Wonder Where It’ll Breakout To

Related Article: Weekly Trade Commentary 7th Oct 2012 As I write this article, AUDUSD is forming a Triangle Price pattern (see Chart below). There is indecision in the market as the Asian session is less liquid. More importantly, this pattern is just proving my point (which I made in my Weekly Commentary 7th Oct 2012) that…

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