Trading Psychology

“One of the best ways to learn about anything is to read about it. Books, articles. Even just marketing pages. Find out what the pros are doing. Find out what’s working for them. And then…” – James Altucher In the last few years I have written three books titled Lessons from Expert Traders (published by […]

The Cable traded sideways last week, not going above the distribution territory at 1.3400, nor going below the accumulation territory at 1.2950. This has caused the bias to become neutral in the near-term. But there could be a breakout this week or next, which would push price above or below the aforementioned accumulation and distribution […]

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 13 “Writing down a trading plan and sticking to it is the winning trader’s secret weapon. If you create detailed trading plans and manage risk, you will increase your chances of success. Don’t think you need to trade by the seat of your pants. Take […]

The EUR/JPY cross went upwards by 700 pips last week, reaching the supply zone at 118.00. Price got corrected by 220 pips on Friday, although that has not violated the Bullish Confirmation Pattern in the 4-hour chart. Price could go upwards from here, but that does not rule out the possibility of bearish threats. EUR/USD: […]

When new traders move into the arena of trading they face several functional difficulties such as how do markets work, what are the subtle difference between markets and most importantly how does one design and implement a system that is some way logic and effective. If someone manages to navigate this maze and become in […]

GBP/USD dropped 450 pips last week, to test the low of 1.2796, before price consolidated in the last few days of the week. The bias on 4-hour, daily and weekly charts is bearish, and thus price should continue its decline. However, this week may be different, for we could see a strong rally in the […]

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 12 “If you see a strategy that has a good track record. This is not about a quick buck. It’s not about one trade, or even one day. It’s about putting your money into a strategy that has a track record, and sticking with it. […]

USDJPY = Sell AUDJPY = Sell CADJPY = Sell CHFJPY = Sell EURJPY = Sell GBPJPY = Sell NZDJPY = Sell NB: Every trade could be entered with a stop loss of 100 pips and a take profit of 200 pips. Only 0.5% is risked per trade. With an account balance of $20,000, a position […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair moved upwards 150 pips last week, testing the resistance line at 1.1150, in the context of a downtrend. The outlook on EURUSD remains bearish for this week. For the outlook to turn bullish, price needs to go upwards by at least, 300 […]

GOLD (XAUUSD) Dominant Bias: Bullish Gold moved upwards by over 12400 pips last month, and price reached a high of 1358.21 that month. There is a Bullish Confirmation Pattern in 4-hour, daily and weekly charts, so it is not advisable to open short trades in the market. Any bearish attempts the market makes ought to […]