Inside the Mind of the Turtles: How the World’s Best Traders Master Risk

My Views The book is brilliant for people who are worried and fears trading. The author breaks down the various element of  risk and explains how one should embrace risk instead of avoiding it. If you want to make a career change into the world of trading but heard of scary stories of traders blowing…

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Don’t let the Frustration Bug Bite

Trading the money markets can be quite unpredictable and, occasionally, the market mysteriously switches from a ‘Giving’ mood into a ‘Taking’ mood and vice verse. Amateur traders who can’t recognise the change in market conditions get very frustrated when they get hit by a few losing trades – and this is when the Frustration Bug…

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The Law of Auto-Suggest

“The law of auto-suggestion, through which any person may rise to altitudes of achievement which stagger the imagination, is well described in the following verse: If you think you are beaten, you are, If you think you dare not, you don’t If you like to win, but you think you can’t, It is almost certain…

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Trading Plan: Writing Instructions For Yourself

Writing a Trading Plan is really not that hard, the problem is that Traders tend to leave out small but important information. And that leaves plenty of opportunities for mayhem. To make this simple, I thought I’d propose the following: Instructions for a Million Pound Account You are about to go on holiday and you…

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GBPAUD was indeed in an Elliot Wave

(Click on image for Larger View) After my article on GBPAUD on Thursday, I’ve decided to track the progress of the Elliot Wave formation on this currency pair. On my last article, I was expecting Wave B to form a (slightly) higher low and Wave C to end higher. What I didn’t realise at that…

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The 4Rs to Overcome the Fear of Losing

Do you have a well developed and profitable strategy? And you’ve back tested the strategy with sufficient sample size and it has rules that suits your personality? Yet, you’re still struggling to implement the rules on a consistent basis? Is that because of Fear? If yes, then please read on. Unfortunately, like me, one of…

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GBPAUD in an Elliot Wave May Be?

I understand that we should always keep things simply. Unfortunately for me, I have a very curious mind and I’ll always explore new ideas. The positive side of that is, I’ve kept it within Price Patterns only and new exploration this time is Elliot Waves. As I write this post, I was kicked out of GBPAUD…

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Understanding Lot Sizes in Gold, Silver and Crude

For those of you who are interested but do not know how to trade lot sizes on Commodities above.   Silver: Standard Lot: When trading 1 full sized lot on silver, I.e. Volume = 1.00 you are buying 5000 ounces of silver on margin. So your margin held will be 1% of the total price…

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Trading Any Where in the World

There are endless benefits of trading the Forex market but, this week, I’ve made the first step of making a dream into reality – Trading Any Where in the World (provided there’s decent internet connection which is not hard these days) After a few invitation to visit my trading buddy (and good friend), I took…

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NZDCAD False Break: Is it going to drop from here?

Unfortunately, the trade below became invalid on Friday 29th June due to volatility in the market.   (Click on image for Larger View) The above is a NZDCAD Daily chart showing a Long High Test (HT) Bar at a horizontal Resistance level. The HT Bar on the 21 June shows a break above the previous…

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