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…
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…
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…
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.…
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.
20 Habits of Wealthy Traders
1) Patient with winners and impatient with losers 2) Making money is more important than being right 3) View Tech Analysis as a picture of where traders are lining up to buy and sell 4) Before they enter every trade they will know profit target or stop exit 5) Approach trade no.5 with the same…
Japanese Candlestick Charting Techniques: a Contemporary Guide to the Ancient Investment Techniques of the Far East
My Views This book is a good read for Price Action enthusiasts. Steve Nison shares with his readers what the candlesticks represents and what the market will likely do after that. His analogies might be a little too elaborated but this is a good way to remember what these candlesticks mean. Description A form of technical analysis,…
FTSE Broke-out of Consolidation Range
(Click on image for Larger View) FTSE dived into consolidation mode on the 16th May 2012 and has since formed a clear price range. On 1st June, Price made a false breakout (circled) down south and started shooting upwards. The 4 hour chart above shows strong momentum upwards and price has broken above the 5410 Resistance level…
Video: Your words and thoughts have physical power – Will Smith
Will Smith sharing his thought process and believes, very inspirational and motivating. This is definitely worth the watch.
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