Trading Plan: Writing Instructions For Yourself

Writing a Trading Plan is really not that hard, the problem is that Traders tend to leave out small but important information. And that leaves plenty of opportunities for mayhem. To make this simple, I thought I’d propose the following: Instructions for a Million Pound Account You are about to go on holiday and you…

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GBPAUD was indeed in an Elliot Wave

(Click on image for Larger View) After my article on GBPAUD on Thursday, I’ve decided to track the progress of the Elliot Wave formation on this currency pair. On my last article, I was expecting Wave B to form a (slightly) higher low and Wave C to end higher. What I didn’t realise at that…

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The 4Rs to Overcome the Fear of Losing

Do you have a well developed and profitable strategy? And you’ve back tested the strategy with sufficient sample size and it has rules that suits your personality? Yet, you’re still struggling to implement the rules on a consistent basis? Is that because of Fear? If yes, then please read on. Unfortunately, like me, one of…

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GBPAUD in an Elliot Wave May Be?

I understand that we should always keep things simply. Unfortunately for me, I have a very curious mind and I’ll always explore new ideas. The positive side of that is, I’ve kept it within Price Patterns only and new exploration this time is Elliot Waves. As I write this post, I was kicked out of GBPAUD…

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Understanding Lot Sizes in Gold, Silver and Crude

For those of you who are interested but do not know how to trade lot sizes on Commodities above.   Silver: Standard Lot: When trading 1 full sized lot on silver, I.e. Volume = 1.00 you are buying 5000 ounces of silver on margin. So your margin held will be 1% of the total price…

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Trading Any Where in the World

There are endless benefits of trading the Forex market but, this week, I’ve made the first step of making a dream into reality – Trading Any Where in the World (provided there’s decent internet connection which is not hard these days) After a few invitation to visit my trading buddy (and good friend), I took…

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NZDCAD False Break: Is it going to drop from here?

Unfortunately, the trade below became invalid on Friday 29th June due to volatility in the market.   (Click on image for Larger View) The above is a NZDCAD Daily chart showing a Long High Test (HT) Bar at a horizontal Resistance level. The HT Bar on the 21 June shows a break above the previous…

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Triangle Breakout: Japanese (Yen) is on the Run

(Click on Image for Larger View) For those who spotted this Double Inside Bar (Daily) or Triangle formation, well done for doing so. For those who spotted it and Traded it, give yourself a big pat on the back. The Japanese Yen broke out of consolidation this afternoon and it is flying north as I typed.…

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Video: Disciplined Trading by Van Tharp

Van Tharp’s video on transforming how you think. Enjoy!      

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Video: Becoming a Disciplined Trader – by Ari Kiev

Ari Kiev talks about common psychological issues faced by Traders and followed by various techniques to help overcome them. I personally like they way he explains how traders should manage their tolerance and discomfort levels.      

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