Search results

If they’ll believe that trading is for them, they’ll ask you for help. If they don’t believe that it is beneficial to them, then you must be getting on their nerves and remind them of a used car yard salesman. Why are you "shoving" good systems down someone’s throat in the first...

Look, it has nothing to do with how much you have in your account. Let’s hypothetically say that the trader is good, and is constantly making 10% per month with conservative money management and doesn’t have too many losers in a row. All he needs to do is increase the number of trades...

Just a simple basic support/resistance if traded properly is profitable. It is the trader who makes the money, not the method or system. Therefore, how did you OBJECTIVELY determined that your lack of success is due system, and actually not due to you the way you're trading it? :)

Sometimes what seems like the light at the end of tunnel is nothing more than thelights of an oncoming train. I’m more inclined towards believing that it is a just rally in a secular bear market, maybe just the first leg of an ABC correction.

If the power in your office will go down and you’ll lose money, will you sue the power company? Use this as a learning experience and a lesson to understand that you chose your broker, and you chose not to be prepared for such scenario. If not, next time it might cost you much more than...

The problem with EW is when people don’t know all the rules and guidelines, they blame EW instead of themselves. Secondly, they often try to force EW on every chart even when there is no clear EW pattern, which is also the problem with automatic wave generating softwares. In my opinion...

That's a "blunt way" of pointing out one of the many obvious problems that exist at deeper level if he or other people just myopically focus on the surface of the problem such as stop loss, and fail to realize that the lesson actually should be about first understanding what trading is actually...

Quote from Livermore himself gives you the answer; "I absolutely believe that price movement patterns are being repeated. They are recurring patterns that appear over and over, with slight variations. This is because markets are driven by humans -- and human nature never changes.” :)

There are plenty of books. Take a look at http://www.elitetrader.com/bo/index.cfm

First rule should be to have a business plan. Part of your business plan should be a trading plan. All other rules should emanate from that framework. :)

I suppose that also depends on what instrument and timeframe one is trading. Eg. if daytrading the US markets then by watching the market dynamics will give you heads up to make a discretionary decision to get out instead of getting stopped out. On the other hand if trading say FX on swing...

As long as there are those key price levels in the first place, then MACD divergences or histogram divergence, or even first sign of loss of momentum by shown by first shorter bar on histogram may be useful as an additional tool for confirmation. If you have problems with stops, try taking only...

Your assumption is based on a belief that you don’t know where the trend will end. Neither do I. However by using Elliott Wave and Fibonacci analysis I have much better idea than you of which price zones are important and have high probability to act as a magnet. On my 1rst target I...

Always! Before even considering putting a trade on, I use the first logical target level to calculate if my R/R is acceptable. If not, I'll pass on that trade and wait for a better one.

You can try http://www.forex-tds.com/ there are some good programmers there who know the ins and outs of MT 4.

When you have higher highs on price and lower highs on MACD, it tells you that the speed at which the trend is moving is slowing. It doesn’t mean that the trend will stop or reverse direction, it only means that the speed of the trend is slowing . Keep in mind that the direction of...

I seriously doubt you’ll be able to do it that way. ( but am not 100% sure). Maybe you could have some alerts on TS and then enter orders manually with your broker.

After you’ll put on say hundred trades or more, you’ll know the answer to your question. :)

We're entering into a zone of confluence both in price and time. The market is relatively extended and eventually will revert to the mean. Because of the fact that extended markets can get even more extended, I'd wait until I see a reversal pattern within this zone and if market...

Instead of trying to find some tiny negligible edge by adjusting existing option models, I’d recommend to spend your energy on things that will give you greater return for your time and energy. I’d pay attention to more practical things such as that the distributions on stocks have...