LAST WEEK’S ARTICLE:
“A man always has two reasons for what he does–a good one, and the real one.” — J.P. Morgan
Last week we had a few potential trades. I recommended scalping the euro long around the open last Monday for a few pips into prior consolidation areas. That trade could have paid some nice pips. The second trade we talked about was trading a break of the daily regression trend channel for a longer term move short.
http://www.traderplanet.com/commentaries/view/163922-forex-pick-your-entry-points-carefully-eurusd/
“All the math you need in the stock market you get in the fourth grade.” –Peter Lynch
Trading or investing is often more a game of “if/then” than it is one of complex mathematical computations.
TWO KINDS OF MARKET KNOWLEDGE
At a seminar I attended a few years back, the speaker said: “In the markets there are two kinds of knowledge. The kind that will make you smart and the kind that will make you money.”
http://www.traderplanet.com/commentaries/view/163972-what-you-need-to-know-to-make-money-trading/
Weekly article here:
“I am extraordinarily patient, provided I get my own way in the end.”
–Margaret Thatcher
Sort of like trading huh?
PICKING DIRECTION
One of the hardest things to do in trading is picking a change in the bias of your move….
I like to know all the different ways things work rather than just picking one way that does work and sticking with it. This is probably my biggest weakness as a trader. Don’t get caught in this trap.
Continue reading here:
http://www.traderplanet.com/commentaries/view/163565-successful-traders-avoid-this-trap/
Last week, I discussed a variation of a stochastic crossover trade. All by itself, buying or selling when the blue line crosses over or under the red line is not a profitable way to trade. After all, if it were that easy, everyone would do it. But when you throw in a few other technical setups, you can make some pips. There’s really quite a bit more to trading than this, and that’s what I said I’d discuss in the next few articles.
Now, I know I promised some words regarding technical trading setups. And don’t worry, those are on their way, but before I talk more about RSI divergence, and stochastics crossovers…… Continue reading below:
http://www.traderplanet.com/commentaries/view/163510-trading-is-a-mindset-not-a-technical-set-up/
I wrote this article last Monday. Over the next few weeks, I’m going to do a little series talking about different technical trading strategies this is the first one. Stay tuned for more:
“The marvel of all history is the patience with which men and women submit to burdens unnecessarily laid upon them by their governments.” George Washington
Happy President’s Day. Back in college, I got a degree in business because I thought it was practical and another one in history because I thought it was fun (and a minor in math for a touch of masochism). The longer I’m in business, the more I think the history degree is actually the more practical of the two. Continue Reading below:
http://www.traderplanet.com/commentaries/view/163455-night-owl-catch-forex-moves-overnight/
I too hope in this short reign to be a man of peace.
Pope Benedict XVI
As I was reading through this morning’s headlines, the only thing that caught my attention is news of Pope Benedict XVI’s resignation. This is the first such event since Pope Gregory XII in 1415. Other than that, the forex calendar is pretty light this week. So I thought I’d lead with something of historical note, but not really trading related. Continue reading
Trader Planet article: 2/11/13
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