Triangle Breakout: Japanese (Yen) is on the Run

(Click on Image for Larger View) For those who spotted this Double Inside Bar (Daily) or Triangle formation, well done for doing so. For those who spotted it and Traded it, give yourself a big pat on the back. The Japanese Yen broke out of consolidation this afternoon and it is flying north as I typed.…

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Video: Disciplined Trading by Van Tharp

Van Tharp’s video on transforming how you think. Enjoy!      

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Video: Becoming a Disciplined Trader – by Ari Kiev

Ari Kiev talks about common psychological issues faced by Traders and followed by various techniques to help overcome them. I personally like they way he explains how traders should manage their tolerance and discomfort levels.      

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20 Habits of Wealthy Traders

1)      Patient with winners and impatient with losers 2)      Making money is more important than being right 3)      View Tech Analysis as a picture of where traders are lining up to buy and sell 4)      Before they enter every trade they will know profit target or stop exit 5)      Approach trade no.5 with the same…

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Japanese Candlestick Charting Techniques: a Contemporary Guide to the Ancient Investment Techniques of the Far East

My Views This book is a good read for Price Action enthusiasts. Steve Nison shares with his readers what the candlesticks represents and what the market will likely do after that. His analogies might be a little too elaborated but this is a good way to remember what these candlesticks mean. Description A form of technical analysis,…

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FTSE Broke-out of Consolidation Range

(Click on image for Larger View) FTSE dived into consolidation mode on the 16th May 2012 and has since formed a clear price range. On 1st June, Price made a false breakout (circled) down south and started shooting upwards. The 4 hour chart above shows strong momentum upwards and price has broken above the 5410 Resistance level…

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Video: Your words and thoughts have physical power – Will Smith

Will Smith sharing his thought process and believes, very inspirational and motivating. This is definitely worth the watch.    

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FTSE Does it Again: Respecting Support and Resistance Levels

(Click on Image for Larger view) This morning, out of total randomness, I thought I had a look at the FTSE on a 2 min chart. The chart above was what I found, it was respecting Support and Resistance (S/R) levels like a textbook chart, bouncing and breaking various levels as it should and making…

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EURUSD: Has It Tanked Enough Yet?

(Click image for Larger View) The EURUSD currency pair has been in a strong downtrend since early May. The chart above is a 4 hour chart and has the following price characteristics: Price channel is well defined with little over and undershoots Meeting a trend definition of Lower Highs and Lower Lows This is yet another…

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Video: Mind Over Market – Interview with Mark Douglas

The mind is the greatest tool any trader can own. This is an interview on this subject with Mark Douglas – a successful trader, author and trading mentor. I hope you’ll enjoy this as much as I did. By the way, here are the two books mentioned in interview: Trading in the Zone: Master the…

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