In a conversation with a fellow trader I was asked, “Don’t you worry about being wrong when you’re pointing out trades in front of a room full of people?” Nobody likes to be wrong, especially in front of all your friends and clients. I thought about this for a moment, because while I fear losing money [...] [...more]
Directional trading, also known as discretionary trading, is what most retail traders strive to succeed at. In this type of trading the traders attempt to figure out the market’s current direction, and either position themselves in that direction at the most opportune time, or wait till the market changes direction and position themselves to be [...] [...more]
The understanding that it is economic and sociological occurrences that creates the price patterns which we see on stock, currency and commodity charts will go a long way in allowing an individual to move from analyzing markets to trading markets. The realization that fundamentals are already reflected in the price chart opens the door to [...] [...more]
Daily Forex Report for 8/19/10 Click the link below to view Jay’s Daily Forex Report for 8/19 where he covers the major currencies and the U.S. stock market. http://link.brightcove.com/services/player/bcpid86410614001?bctid=590143329001 Teresa Bell www.trading-u.com DISCLAIMER: Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. Risks include the potential that [...] [...more]
Following a monthly trend shift higher at the end of June, USDCAD looks to be in good shape to reverse the previous 1-3/4 bear market, after putting in a higher low this year in March on the yearly chart. USDCAD Weekly chart pictured Jay Norris is the author of Mastering the Currency Market, McGraw-Hill, 2009 and a Trading Instructor at Trading-U.com. To [...] [...more]
“Limits limit profits”. I had not thought of that saying in awhile. It’s a trend traders mantra and refers to the hardest thing in trading to do, which is let a profit run. If you place a limit order to exit the trade then you must not have a conviction that you are going with the [...] [...more]
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