Happy Holidays all - 🐣🐥
After writing a few educational posts recently, it has been interesting to see the comments & DM's. Years ago we set out training traders the basics; we called the trades "starbuck bets" the idea was for some people, extra money each week was what they were looking for from trading. For others it was extra money for a daily coffee on the...
Elliott Wave Post 2; after writing the first post I have received some questions. So I thought it easier to write a follow-up post here showing some tricks.
To be clear, I am not an Elliottition as a whole, I use it as part of a wider strategy on the monthly and weekly timeframes. But also we have access to an automated Elliott wave tool.
The Elliott wave logic...
The issue for many new traders is understanding the correlation between timeframes. We often get caught up in indicators, news hype, chat room posts, and various other things.
One of the biggest challenges I see when talking to new traders is simply the lack of "experience" in reading multiple timeframes. This causes confusion and even self-doubt. The issue with...
I have recently had some questions on some of the basics such as moving averages. First of all, there is some great free content out there via sites such as Babypips
I wanted to share some simple info to at least explain what a moving average is. Where it is used and what are the types of.
Moving average is a simple, technical analysis tool. Moving averages...
After my last couple of posts, I want to ask the question rather than just throwing ideas out there!
What aspect of trading do you fear? Why?
What do you think you could improve on?
Anything!!! Be interesting to see comments.
Personally, I can overanalyze and talk myself out of good setups. I've also been knowing to jump in trades too early.
This could be...
As a trading coach & mentor, I often get asked about where to go and find resources. Anything from books to specific strategies. So I thought it would be interesting to not only share with the community some books I have liked over the years. But to ask for your favorite books, any suggestions - any thoughts on the books listed?
Even if they're slightly outside...
Buying dips can be tricky, the issue is knowing if it's an actual dip or a full trend reversal. I used to think buying at a lower price to double down on an investment going the wrong way was a good idea. However, after reading a book called the Zurich Axioms by Max Gunther - the penny actually dropped. In essence, profit is profit. It does not have to be made...
Although not exactly education - I thought it would be different to ask rather than just post.
As a trader of 21 years, I have gone through various ups and downs. Emotions, stress, pain and success. I thought it would be interesting to ask the question, it doesn't matter if you have traded 40 years, started due to Covid or been learning.
The only competition in...
What is retail sentiment?
Have you ever noticed on your broker site that it has a statement along the lines of "70%+ of retail traders lose money"???
This is directly related to retail sentiment - in short, institutional money make their money on others losing money in the online marketplace.
Every forex trader will always have an opinion about the market.
...
This is NOT an in-depth explanation or a way to trade, this is just highlighting some basics from a question I get a lot, you might see some traders talking about COT data. You may even see it in some posts. There's no magic to it, all you need to know is what exactly it is.
Of course, if you can use it within your edge to understand some bias by the bigger...
The truth is - Indicators are only what you make them. 9 out of 10 indicators lag. The rest are used by so many people that it creates a type of unconscious bias. And above all else can clog up your chart as above!
That's not to say indicators are pointless - far from it, it's more about creating a bias and using indicators or chart patterns as a confirmation...
There's a great image available if you just search in Google - look for "The Wall Street Cheat Sheet" - Markets move in cycles, which is built on human emotions. There's plenty of research available on this. If you look into anything like Elliott wave theory, Gann fans & boxes, Wyckoff or simply Fibonacci, you will find (in the end) it's all based on the...
Gann fans are a form of technical analysis based on the idea that the market is geometric and cyclical in nature. A Gann fan consists of a series of lines called Gann angles. These angles are superimposed over a price chart to show potential support and resistance levels.
🌀 The Gann Fan was developed by W.D. Gann.
🌀The Gann Fan is a series of angled lines. The...
Many new traders face a magnitude of problems early in their trading journey. One of the biggest dilemmas is caused by the vast amount of indicators available. There are the free basic indicators like RSI, MACD, Bolli Bands and the list goes on. Then you have custom indicators - Paid for, free trails - each offering their own edge.
The issue is not what they can...
I posted an idea yesterday on the Accumulation phase of Bitcoin currently. I have been asked by several people in the post and in DM's about Etherium, Litecoin and other alt coins.
Thought it be easier to make a post.
As professional traders enter the crypto market - it's clear to see a shift in the behavior of Bitcoin and its merry men.
If you zoom out and...
Although it's a crazy time with the whole world in Pandemic mode due to Covid - you can still see the Wyckoff theory at work, by looking at these principles near or in key levels you can see the advantage of waiting to join smart money moves.
As a mentor, I often get emails and messages asking should I long this or short that. And usually, as soon as you see the...
After spending now 21 years trading, It's clear to see that a lot of the old ways work just as well as when I was first introduced to trading. There's a reason names like Wyckoff & Elliott are still popular terminology in the trading communities. Even Fibonacci now centuries old.
I wanted to share a quick top-down breakdown of the market setup using simple but...
