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Trading Psychology Articles |
Written by Jim Wyckoff |
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I have had many readers through the years--most of whom were less-experienced traders--tell me that at some point in the future they planned to quit their day jobs and trade futures full-time. While their optimism was certainly positive from the standpoint of eagerness to learn about a truly fascinating business, it is also probably unrealistic that they will ever make a good living as a full-time futures trader. At the end of this feature I have a few questions that may help determine if you are ready to attempt to join the elusive rank of "full-time" trader. But first, I want to present you with some straight facts. |
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Money Management Articles |
Written by Dr. Van K Tharp |
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You lose whatever you risk when tails comes up and you win twice what you risk when heads comes up. If R stands for you risk, this system is characterized by the two R-multiples it generates: 1) - 1R (when you lose, you lose what you risk and R stands for your risk); and 2) +2R (when you win, you win twice what you risk). |
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Technical Analysis Articles |
Written by Ian Copsey |
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First of all let's be clear about one issue. Indicators are derived from algorithms that used past data to provide a current value. They are by definition lagging. There are some developers who claim that their indicators are leading indicators - that they provide signals for the next period. Well, there are some such as pivot levels and Fibonacci, but in the ordinary range of indicators such as momentum and derivations of momentum, moving averages and bands that are supposed to indicate support or resistance, they are all lagging. |
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Forex Articles |
Written by Adam Rosen |
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The (FX) market follows a steady cycle of oscillating between a range bound and trending environment, on a long and short term basis. During range bound markets, the buying and selling forces remain more or less equal, and therefore compress the market into a sideways trading pattern such as the triangle consolidation pattern shown below. Once the market reaches a critical point, either the buyers or sellers overtake the opposing side, and force the market into a new trend; to the upside or downside. |
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Money Management Articles |
Written by Dr. Van K Tharp |
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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 tails, you lost what you bet. Now, this is actually a very good trading system. You win 50% of the time and your winnings are twice what you lose. How many of you have a system that is that good? |
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Technical Analysis Articles |
Written by Jim Wyckoff |
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OBV is calculated as the continuous consecutive sum of volumes, whereby the entire volume of a day is added to the volume of the previous trading session's OBV, if today's closing price is above that of the previous session. Should the closing price be below that of the previous session, the day's volume is subtracted. Unchanged closing prices have no effect on the OBV--the volume is neither added nor subtracted. |
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Technical Analysis Articles |
Written by Ian Copsey |
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Ever wondered how you can generate signals from RSI apart from the usual overbought and oversold levels? It can be done although personally I wouldn't trade on signals that do not include an input from price. Let's face it RSI can be very frustrating when it fails to reach overbought or oversold for long periods of time. Well, let's just consider what RSI is telling us and whether we can use that concept in another way. |
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Forex Articles |
Written by Adam Rosen |
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When the basic applications of technical indicator fail to explain the current market climate, we can experiment with a new and fresh look at the charts. The following (1-hour) chart shows a steady downtrend, with its expected support and resistance levels. Since the trend is to the downside, we should place more emphasize on our current resistance level; which is drawn by connecting the two most significant high prices. |
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Forex Articles |
Written by Jim Wyckoff |
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The largest traded "market" in the world is not the U.S., Japanese or European stock markets. It's the foreign exchange market. It's also called FOREX for short, or called the cash currency or spot currency market. Speculators can and do trade this huge market, in which over 1 trillion dollars (and other currencies) can change hands every day. |
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General Trading Articles |
Written by Dr. Van K Tharp |
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In this tip I want to briefly describe my ten favorite trading books. I'm not going to give them in any particular order, because I'm not sure I can rank them that concisely. However, these are my ten favorites and I've ranked them alphabetically by author, except that three of the books are my own and I've included them at the end. In addition, most of them are classics, so my description of each of them will be brief. |
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Forex Articles |
Written by Adam Rosen |
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From time to time, the FX-market will create a trending market environment, perhaps as the result of a disparity in interest rates among the two currencies within the pair traded. When this trend occurs, it may be in our best interest to simply align our own trading account in the same direction, and take advantage of this trend for as long as it takes us. |
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