How Many Patterns Do You See Here? A Forex Trading Quiz
I have been working really hard lately on my upcoming book ‘Trading Price Action‘ which I am seriously looking forward to finish and deliver to the world at large. Currently I am dissecting a chapter on pattern recognition and came across this interesting chart. In trading, we often look for fixed patterns we are trained to see, such as; Inside Bars Pinbars Outside...
Read MoreOde To The 4hr Charts…
I want to share with you some results and tell me if you think these would be considered professional grade, or highly impressive to say the least; 110% gain for 2011 124 Trades, 74 winners, 50 Losses 59.67% Accuracy Rate Largest Win: $14,360 Largest Loss: $8,180 Max Win = 43% larger than Max Loss Max Consec. Wins: 16 Max Consec. Losses: 6 Max Consec. Win Streak 2.66x Larger Than Max....
Read MoreYour Brain, Trading and Finding ‘The Zone’
What It Takes to Become A Master Ever heard of the name Anders Ericsson? Perhaps not, but i’m guessing you heard of the name Malcolm Gladwell, author of the bestselling books Blink and Outliers. Gladwell in his last book Outliers was trying to figure out what separates highly successful people from the rest in any field. In it, he discussed the 10k hour rule, which was actually from...
Read MoreIntraday Price Action Trading – Reading Forex Price Action
Today had produced some interesting price action plays, so I wanted to share with you two trades that I took today. I am going to break down exactly what I was reading from a price action perspective, what my analysis was, how I took each trade, including the entries, stops and limits, and why I chose them based on what I was seeing in the price action. While the NZDUSD has been stuck in a...
Read MoreBuilding A Successful Trading Mentality While Removing Limiting Beliefs
This is the second part to our last article on Awareness, Negative Habits and Concentration in Trading. It is designed to help you remove any limiting/negative beliefs which may be holding you back, while building a successful trading mentality. Remembering Back In the beginning of our trading ventures, we become aware of the new possibilities that await us: Working for ourselves Working from...
Read MoreReading Price Action – Key Price Action Elements to Breakouts Part 1
One of the questions I get most often about reading price action has to do with breakouts. How to spot them? How to know when it is a false breakout? How to get in after it’s already broken out? Ok, i’m in one now, how do I know it’s for real? It is the last question we are going to focus on – how to determine if the breakout you are in is for real. Over a series of...
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