How To Trust Your Setup

One of the great ironies of life is that as traders we often trust ourselves least of all. Most traders (myself included) approach the whole enterprise with deadly combination of overweening sense of arrogance in our ability and underwhelming sense of confidence in our trade setups. When it comes trading… Read more….

5 Tips for Trading During Volatile Markets

Increased volatility leads many traders to seeing an increase in trading opportunities. The huge market swings trigger thoughts of monumental upside, but also for potential loss especially if traders do not take the necessary precautions. During times of volatility, traders need to adjust their strategy to compensate for erratic market…. Read more….

All Good Things Come to an End: The Fall of the Carry Trade

One of the most popular currency trading strategies in recent history, the carry trade has been successfully used by traders for years. With recent market conditions, this very popular strategy is beginning to look like a losing proposition. Traders find themselves wondering is this strategy ever going to be back… Read more….

Don’t Hold Your Breath Too Long While Under Water

The headline of this educational feature pertains not to swimming but to trading. Most professional traders do not hold onto their losing positions for very long. Once a trading position goes “under water” most professional traders will immediately begin looking for an exit strategy­-if they do not already have one… Read more….

The Single MOST IMPORTANT Aspect of Futures Trading

Okay, traders: Do you know what is the most important aspect of successful futures trading? Is it identifying the trading opportunity? Is it proper entry into the market? Is it the trading “tools” you are using? Is it an exit strategy that is the most important aspect of trading? The… Read more….

Behavioral Patterns That Sabotage Traders – Part I

Although I do not maintain a private practice of counseling/coaching for traders, it is perhaps inevitable that traders would contact me for assistance after reading my book on The Psychology of Trading. Once in a while I take on a project of working with a group of traders because of… Read more….

Self-Sabotage Revealed

In my peak performance training with traders, I give a strong psychological slant to the concept of self-sabotage. Self-sabotage typically occurs when one lacks the discipline to act in one’s own best interest. For example, when you have dessert, knowing it’s taboo because you are trying get healthy, you might… Read more….

Serious Money

There is an article in this week’s news section which is entitled How to Combat Over Trading. It’s an issue that I tackle often in this column because it is probably the greatest source of pain for most traders I know. K and I are often amazed by emails we… Read more….

John Murphy’s Key To Success: Simplicity

“My work has gotten better due to simplifying my approach,” John J. Murphy, the veteran technical analyst, author and CNBC resident technical analyst, told a group of equities and futures traders attending the Technical Analysis Group (TAG) XVIII trading conference sponsored by Dow Jones Telerate in New Orleans. Read more….

How Profitable Are Candlestick Strategies in Currency Trading?

Some of the most popular trading strategies in forex markets involve the use of Japanese Candlestick charts. Given a specific pattern in candlestick formations, traders look to buy and sell currencies in anticipation of reversal or continuations in price. Yet testing the profitability of such concepts is easier said than… Read more….

A Practical Guide to Technical Indicators: Part 1 Moving Averages

Over the past decades, attempts have been made by traders and researchers aiming to find a reliable method to predict next action of the securities. As a result we have a variety of different fundamental and technical analysis methods and many theories today that really work. For the first pace… Read more….

Weekly Trading Lesson: Don’t Change Time Frames To Stay In A Losing Trade

Too many times I hear about new traders opening a trade using the 5-minute chart (not my favorite approach) and when the market moves against them, they move to the 15-minute chart to justify staying in a little longer, hoping that the market will turn around. Then if the market… Read more….

The Importance of Position Sizing

I did a retreat with one of the world’s greatest traders in 1989. At that retreat he talked about a simple trading system. It was a system in which you flipped a coin. If the coin came up heads, you won twice what you bet. If the coin came up… Read more….

Euro Mixed Versus Major Counterparts (INO News)

(RTTNews) – The euro saw mixed results against other major currencies on Wednesday. Traders considered the latest German PPI data and comments from European Central Bank President Jean-Claude Trichet indicating weakness in the economy could last through the year. Read more….

Euro eases against dollar to $1.3005 (San Francisco Chronicle)

The euro fell slightly against the U.S. dollar Thursday as traders responded positively to President Obama’s first day in office, on hopes he will act aggressively to prop up the world’s biggest economy. The 16-nation euro bought $1.3005 in European morning… Read more….

Euro eases against dollar to $1.3005 (AP via Yahoo! News)

The euro fell slightly against the U.S. dollar Thursday as traders responded positively to President Obama’s first day in office, on hopes he will act aggressively to prop up the world’s biggest economy. Read more….

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