Emotionless That’s exactly what you need to be. It’s the only way to trade correctly. I remember when I first started to trade back in 2011. I thought that the market makers were a bunch of evil psychologists, who could put you through every emotion there is. In under 5 mins. And not just the […]
What are the negative emotions that affect trading ? Well…all of them are really, if you think about it. They are called negative emotions for a reason. We don’t call them the “sometimes useful” emotions or “the ever so slightly useful” emotions. We don’t even call them the “depends on the situation” emotions. I am […]
The Holy Grail of Trading… Finally, it’s here… My Journey… I had a mission, admittedly no different from any other unsuccessful Trader. What is the Trading “Holy Grail”. Why can some people trade with ease, and others…me…could not. Let me clear up something real quick, I am not stupid. I know there is no “Holy […]
This pair has been giving us fantastic profits, 300-400 pips at a time very reliably for quite a while. It has once again gone to the top of the channel, and everything points to a new trip to the bottom. Dollar weakness has been the theme, and the USDCHF has been in a nice down […]
The USDCHF has been trending downward since December of 2016, and has established itself in a very nice channel. It recently rode up to the top of the channel and is now looking good for its next trip back to the bottom. Of course, we have seen a weakening USD lately, and in fact the […]
Forex channel breakouts are one of the best trading strategies a Forex trader could hope for. The chart above is a daily one for the AUDCAD (Australian Dollar against the Canadian Dollar), so every candle represents an entire day of price action. The chart goes from eary December of 2015 through July of 2017. In […]
Those who know me know that I am a huge fan of trendfollowing. The USDCAD is in a definite downtrend that has confirmed itself in no uncertain terms. It has pierced the inner trend line, and is making a break through the Ichimoku kumo (cloud), the blue shaded area. Time to put some money on […]
The EURJPY is giving a sell signal after a fairly long period of bullish activity. It’s far above the channel it had been following for an even greater period, breaking out of it around the French Elections. Yen weakness since has also helped drive this pair up, but it’s been in consolidation and has now […]
After the very lucrative last two weeks of shorting the EURCAD, it seems to have gone down as far as it’s going to and is looking like a nice opportunity for a long, as it bounces off support and starts looking for the trend line above current price, or even better, the resistance level far […]