Archive for the ‘Featured’ category

« Older Entries
Newer Entries »

My Favorite Price Action

May 1st, 2010
  1. Outside Candles (can be a three candles formation, but less reliable)
  2. Double Top Lower Close (Bearish) or Double Bottom Higher Close (Bullish)
  3. Matching Lows (Bearish Trend Continuation) or Matching Highs (Bullish Trend Continuation)
USDCAD Outside Candles

USDCAD Outside Candles

AUDUSD 30 Apr

AUDUSD 30 Apr

No comments »

Posted in Featured, Forex Trading, Reading Price Action

Tags:

The Correct Mindset

April 21st, 2010

I learnt that whenever I am afraid of missing out on a good trade, I tend to get impulsive and will almost inevitably end up making bad decisions.

I need to remind myself that

  • it is impossible for me to catch all trends
  • a single good trade a week is enough for me to meet my target
  • a bad trade avoided is equivalent to a good trade made (negative * negative = positive)

No comments »

Posted in Featured, Forex Trading, Others

Tags:

Axioms of Trading

April 20th, 2010
  1. The trend is your friend
  2. Always try to enter after (two) pullbacks
  3. A failed signal is one of the most reliable signals (e.g. failed breakout of trendline)
  4. Bull and bear traps further increase the probability of success
  5. Indicators are lagging; price action provide much better entry points
  6. When in doubt, or when there’s contradicting information, DO NOT TRADE

No comments »

Posted in Featured, Forex Trading, Options Trading, Reading Price Action

Tags: