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Trading Psychology Articles |
Written by Jim Wyckoff |
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At some point in nearly everyone's trading timelines, they wonder how their trading successes (or failures) compare with those of other traders. Wondering just how well you stack up to other traders in the industry is a natural curiosity and a human psychological tendency. However, actually knowing the success or failure rates of others doesn't do a lot to move you farther down the road of where you want to be regarding trading success. |
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Forex Articles |
Written by Jimmy Young |
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This simple exercise will increase Forex profits 100% and works for 99% of all short-term FX traders - stop trading so much - widen out your stops - widen out your profit targets - and only trade in the direction of the trend indicated by 4 hour chart. |
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General Trading Articles |
Written by Forex618 |
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There are many different methods, systems and strategies which traders, "newbies" and old "pro's", apply to the market to make a profit from the movements in the prices. Each trader will assert that his or her methods are the best and the most profitable, but the truth is that each trading system has its strengths and weaknesses. |
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General Trading Articles |
Written by Jim Wyckoff |
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Entry and exits points in trades most times should be based on some type of support or resistance levels in a market. For example, in the coffee market at present, many traders think prices are close to a bottom. But I won't go long in a coffee contract just because I think it's close to a bottom. I need to see some strength in the market. I will wait for the contract to push up through a resistance level and begin a fledgling uptrend. Then, if I do go long, I'll set my sell stop just below a support level that's not too far below the market. And if the trend does not develop and the market turns back south, I'm stopped out for a loss that's not too painful. |
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Trading Psychology Articles |
Written by Dr. Van K Tharp |
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If the project is mission critical, then you need to allocate human and capital resources to it. Let's make the assumption that your idea does seem to be mission critical. Let's say that your mission is to open a hedge fund with a target of at least $250 million under management and some friends are asking you to manage their money. In order to have large amounts of money under management, you need to produce above average returns with very little risk. For example, a system that would help you achieve this mission would be one that would earn 15-25% each year with no more than one or two losing months each year. If you have such a system in place, then accepting client money would probably be useful. If you don't have such a system in place, then client money would probably be a major distraction. Let's say you have the system in place, and you decide to accept money. |
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Beginners Tutorials |
Written by ActionForex.com |
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An up-thrust day is when the close for the current period surpasses the previous period's close. A down-thrust day is when the close for the current period is below the previous period's close. Similar to spike and reversal days, thrust days signify both the strength in the market as well as the possibility of directional reversals. A series of up-thrust days would suggest a pronounced up trend, while a series of down-thrust days would indicate a downtrend dictated by seller dominance in the market. |
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Beginners Tutorials |
Written by ActionForex.com |
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A reversal high day is a day in which the high price reaches a level higher than the previous high, and then reverses to close below the previous close. Like spike days, a reversal high day's mirror image is a reversal low day, in which the market sets a new low before reversing to close above the previous close. Also like spike days, the significance of reversal days increases when there is a preceding up trend (for reversal high days) or a preceding downtrend (for reversal low days). |
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Beginners Tutorials |
Written by ActionForex.com |
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A spike high is a period whose high is sharply above both the high of the previous period as well as the high of the following period. Conversely, a spike low is a day whose low price is sharply below both the low of the following period as well as the low of the previous period. Spikes can often signal reversals of the most recent trends and they can often look similar to hammers and hanging man. |
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Beginners Tutorials |
Written by ActionForex.com |
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Candlestick charts shows information about the price action and the movement of the currency price over a specified period of time. It contains the market's open, closing, low and high of that specific time frame. Below is an analysis of a candlestick chart and its components. |
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Beginners Tutorials |
Written by ActionForex.com |
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A trending market can move between parallel support and resistance levels. A price channel between two parallel lines can often be drawn in a trending market. The key to a price channel is that the lines be parallel to each other. The value of the price channel in predicting the ongoing speed of a trend depends on the lines being parallel. |
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Beginners Tutorials |
Written by ActionForex.com |
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Only one of two things can happen when a price approaches support or resistance: the price can break through it, or it can bounce off and reverse direction. The same is of course true for trend lines. If a chart is trending in a clear direction, and a trend line can be drawn connecting a series of relative highs or relative lows, trading opportunities exist when the price approaches the trend line. |
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