Webinar: Is the Fed Readying Markets for a Sep Hike?

The question has been raised on whether, or not the Fed is readying markets for a Sep hike. Risk aversion has struck financial markets at the beginning of the week because of the swelling Fed rate hike speculation tanked the shares and bolstered the anti risk Japanese Yen. There is a lot of uncertainty in this area.

Webinar: Is the Fed Readying Markets for a Sep Hike?

Originally published at Webinar: Is the Fed Readying Markets for a Sep Hike?

How To Pick Easy Swing Trades

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In trading, it is very easy to make our life harder than actually needed. Most people, instead of picking the easy ones, try to fight the market for whatever reasons, and as a result, overtrade, and get into trades that are hard to manage, thus they make more mistakes, leading to worse results and tilt, and so on. Does it really have to be that way? Of course not. In this article, I want to show you what an “easy” trade looks like, and what “hard” trades look in comparison when trading my swing trading strategy. Ready? Let’s go.

Key Takeaways:

  • Most people, instead of picking the easy ones, try to fight the market and end up overtrading and getting into hard to manage trades leading to more mistakes and worse results.
  • Only trading charts that appeal to you visually makes it easier for you to manage your trade, hold your trade, and exit your trade, leaving much less room for mistakes.
  • Look for S/R levels, divergences, trend lines, and macro structures: triangles, horizontal ranges, head & shoulders, double tops and triple tops / bottoms.

“I think it is incredibly important to only trade charts that appeal to you visually, as this will make it much easier for you to manage your trade, hold your trade, and exit your trade, thus leaving much less room for making mistakes. This makes our life easier.”

http://www.tradeciety.com/how-to-pick-easy-swing-trades/

Originally published at How To Pick Easy Swing Trades

5 Things to Consider When Scalping or Day Trading

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A good number of forex newbies I’ve talked to have shared that they’d prefer day trading or scalping when trading currencies. And why not? Putting quick and multiple trades a day increases the chance of winning trades. Trading for short periods also means that you’ll make money AND have time for other pursuits like sports, hobbies, and SOCIAL LIFE…right?

Key Takeaways:

  • Short-term trades CAN be profitable. The key is to learn the strengths and weaknesses of day trading and adjust your expectations and strategies accordingly.
  • In order to make profits, you’ll have to earn more pips than your broker charges. Talk to your broker about their spread/commission terms so that you won’t be blindsided.
  • The pressure of quickly pricing in information, placing orders, and trading larger positions increases the possibility of making trading mistakes.

“The number one reason why new traders fail is not because they suck, but because they are undercapitalized”

http://www.babypips.com/blogs/pipsychology/forex-scalping-day-trading.html

Originally published at 5 Things to Consider When Scalping or Day Trading

Don’t Ask These Trading Questions

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Those that succeed ask “How can I average 15-20% per year on my investment and lessen the tax burden?” The average person will ask “Why can’t I lose weight?” Those that succeed ask “How can I decrease body fat while I maintain muscle mass that I am comfortable with without a starvation diet?”

Key Takeaways:

  • How you ask questions matters. Those that succeed speak to themselves and ask questions much differently than those that are average. Apply that to your trading questions.
  • Top traders will say that their system of trading is less important to their success than the “why” behind their trading and understanding how important controlling risk is to success.
  • Many people are approaching trading with a mindset that is not conducive to succeeding. They need to start thinking about risks, expectancy, and exits.

“Looking at my results or those of anybody else have no bearing on your success or failure. Bottom line, know that information of how much someone makes will both not help you or have any impact on your results.”

http://www.netpicks.com/ask-the-right-questions/

Originally published at Don’t Ask These Trading Questions

3 Ways To Tame Trading Psychology Problems

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With all the marketing going on in regards to the business of trading, one important variable that gets left behind is trading psychology. It’s not the sexiest of topics but is one that is vital to a complete package trader. Not dealing with the issues that we all face as traders such as losing streaks, stress and the transition from demo to live trading, will make it difficult to gain much traction on the success road.

Key Takeaways:

  • There are different methodologies to taming psychological problems that can arise when trading stocks.
  • The psychology of losing streaks can be overcome by taking certain steps that is important to coming back from losing streaks in the market.
  • It is also important to overcome anxiety when it comes to market trading and this can also be overcome.

“Even long time traders still suffer from psychological issues related to trading. While certainly not an exhaustive list of issues we face, here are 3 common problems and suggestions on how to deal with them.”

http://www.netpicks.com/tame-trading-psychology/

Originally published at 3 Ways To Tame Trading Psychology Problems

Are You Really Committed To Your Trading Business

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There are at least two very good reasons for what I’m saying and they both involve continuity. The first reason has to do with watching the market day by day. By seeing what’s happening in a market and by seeing how it’s happening, a trader is much better able to get an understanding of context and get in sync with market rhythm. And this gives a trader enough insight to know when to pass up on an opportunity and when to really hit the gas.

Key Takeaways:

  • Here at Netpicks, we’ve helped many different traders over the years and there’s one recurring theme. Retail traders frequently just don’t have the level of dedication in order to make it. In fact I see it all the time – even now.
  • By seeing what’s happening in a market and by seeing how it’s happening, a trader is much better able to get an understanding of context and get in sync with market rhythm. And this gives a trader enough insight to know when to pass up on an opportunity and when to really hit the gas.
  • Seeing what you’re good at and what you’re not is one part of this. Another aspect is then dissecting your problems and fixing them. One of the best ways to use a trading journal during every interaction you have with your trading business and the market.

“By taking the time to practice it every day you will give yourself a much better chance to improve.”

http://www.netpicks.com/dont-just-another-statistic-be-commited-to-trading/

Originally published at Are You Really Committed To Your Trading Business

The Hidden Costs of Missing Forex Trade Opportunities

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Forex traders who want to be consistently profitable know the importance of tracking the rights and wrongs of the trades that they take. Unfortunately, the impact of the trades that they DON’T take is too often overlooked. Traders are no strangers to missing good trade opportunities. At one point or another we’ve encountered setups that we didn’t take even though they so clearly fit our biases and strategies. All too often, those missed trades also tend to be winners.

Key Takeaways:

  • Forex traders who want to be consistently profitable know the importance of tracking the rights and wrongs of the trades that they take. Unfortunately, the impact of the trades that they DON’T take is too often overlooked.
  • While there are good reasons for missing trade opportunities, not taking valid setups can also cost you in the long run.
  • For mechanical traders, not taking all the valid trades would create discrepancies between your backtested results and your actual performance. You could lose confidence in your system before you even give it a chance to reach its full potential.

“Missed trades can also make a dent on your trading psychology.”

http://www.babypips.com/blogs/pipsychology/forex-missed-trades-20170213.html

Originally published at The Hidden Costs of Missing Forex Trade Opportunities

Advanced Training: Trading Psychology

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There is a tremendous correlation between Psychology and Trading. In particular, emotions such as Greed and Fear are intimately associated with trading.These emotions often operate very subtly in the background, often without the trader realizing it. In addition, Anger, and Hate also operate against the trader in the form of Revenge Trading. Elation and Ecstasy operate in the form of “I can’t do anything wrong” and we start taking unnecessary risks and violate all our pre-established rules. These are all things we need to guard against as we trade.

Key Takeaways:

  • Stop Losses are meant to protect your account NOT your trade. Once you’ve drawn your “line in the sand” don’t deviate from it just to give the trade “a little more chance of turning” unless your rules allow for it.
  • Have trading maxims (sayings, mantras) that help you remember what you are supposed to be accomplishing and that help you avoid doing stupid things. Repeat your maxims as they apply to your current situation.
  • Before you enter a trade, be sure it meets the entry criteria. Don’t take a trade that’s “close”. Don’t enter a trade just because it makes you happy to be in a trade. Act like a professional.

“Taking losses is part of the “job” of trading.”

http://winnersedgetrading.com/advanced-training-trading-psychology/

Originally published at Advanced Training: Trading Psychology