Successful traders always follow the line of least resistance – Jesse Livermore. While intricate trading strategies may impress, it’s unnecessary to succeed in the financial markets – keeping things simple is essential. Most trading systems have one thing in common: the trend. In retrospect, a trending market is easily recognised on a price chart. The … Continue reading Exploring the Power Behind Trend Line Studies in Forex
Developed by Scott Carney, the harmonic bat pattern, a variation of the Gartley harmonic pattern, is a 5-point retracement structure composed of Fibonacci measurements used to create a potential reversal zone, or PRZ.
Risk comes from not knowing what you’re doing – Warren Buffet. Updated March 2020 Foreign exchange (forex or FX) trading, once the domain of commercial banks, hedge funds, large corporations and high net worth individuals, is now available to anyone with an internet connection and sufficient funds to meet balance requirements. Although a low barrier to … Continue reading Position Sizing – Where SIZE Does Matter
There will be times a trader finds themself caught up in the motions of trading that they lose sight of the primary objective: protecting capital. A trader’s cut-off point is the point in which a trader’s pre-determined risk tolerance is met. Think of it as a pressure relief valve. Like a boiler has a pressure … Continue reading Do You Have a Cut-Off Point?
Updated June 2020 While it’s true all trading strategies shoulder losing setups, some losses can be avoided. Experienced traders are conscious of what’s ahead on the economic calendar. Newer traders, though, often expose positions to unnecessary risk around news time. Price Action – News Economic news releases can drastically affect price movement. Depending if market … Continue reading The Importance of the Economic Calendar
