- Curious why your stop was hit but closing price remains little changed?
- Sick of losing trades that turn into winners after you’ve closed?
If these sound like you, don’t panic because you’re not alone! In fact, after nearly 10 years of trading I still find myself caught in this paradigm from time to time(please excuse the lame rhyme:). The only difference is I’ve been through it before, so I’ve developed a few tricks for avoiding the market or market makers trip mines.
Inexperienced traders slip on these banana peels over and over again. In fact, its these nuances that cost traders countless amounts of money and probably lead to their retirement. So, no matter what level trader you are look no further than these posts to uncover the costly tricks that might be plaguing your P/L statement.
If you have any questions please feel free to reach me via the contact page anytime. I’ll respond personally!
So you’ve watched a few videos on youtube and you’re scanning the comments section only to find someone claiming “all indicators are useless”. In fact, if you scan the comments of this site you will certainly find the same. Without fail, study any media stream and there will always be someone claiming indicators are garbage.
Ok, so its just one picture but it will need some explanation. Also, this picture doesn’t and won’t showcase proper money management. I’ll leave that part to you for this post. What it will do however is demonstrate appropriate entry, exit, profit, and stop targets…aka…the trading plan.
So, generally speaking I don’t love any short term trading strategy.. mostly due to the fact I lose more money than I make but given the simplicity and potential power of this new strategy it seems reasonable to share.
Read moreAn ultra short term trading strategy for quick profits!
In my last post I mentioned placing a pin in the discussion about finding trades after Fib levels were identified. In today’s post were going to pull the pin and continue our conversation about high probability trades.
Read morePlacing High Probability Trades using Fibonacci Levels
Learning to use Fibonacci Levels, both retracements and extensions has been one of the greatest discoveries in my trading career. In the paragraphs that follow I hope to uncover a little bit of the mystery surrounding the Fibonacci indicator.