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The best Van Tharp's Quote!! Read all his books!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Van Tharp “When you understand what’s involved in winning, as do professional gamblers, you’ll tend to bet more during a winning streak and less during a losing streak. However, the average person does exactly the opposite: he or she bets more after a series of losses and less after a series of wins.” Over the 18 years of trading the Futures/ Stocks and Currencies market, Van Tharp's books have help me immensely. I suggest you read his books. Some of them are listed below; Trade your way to financial freedom Super Trader Trading Beyond the Matrix Safe Strategies for financial markets Financial freedom through electronic day trading I have a large collection of trading books. If anyone needs suggestions on great trading books i would be happy to send you a list :)
Education
by SMPTrader
9
Multiple Time Frame Breakdown - XAUUSD Weekly (pink): Looking at the bigger picture on XAUUSD, I am bullish for the time being. We can see the initial impulse on the left of the chart and we are currently forming the corrective structure. I have plotted estimated points at which I believe the corrective structure will play out. According to my analysis, we are in wave 2 of the correction and I believe that there is still some upside to come before the completion of wave 2. Daily (blue): I expect the daily time frame to play out as indicated above. According to my analysis, wave 2 of the daily correction is complete and we are starting wave 3 to the upside. Wave 3 will complete at the top of the larger weekly structure marked in pink. There is a strong possibility of a reversal from that level for wave 3 on the weekly structure. I am looking for an entry to trade wave 3 on the daily (blue) structure. H4 (green): The corrective structure, indicated in green on the H4 chart above, broke to the upside and also broke an important trend line, marked in orange. This should indicate the start of wave 3 on the daily (blue) structure. I am waiting for a confirmation structure to form in order to get an entry point for the long. H1 (red): I am watching the formation of the structure indicated in red on the H1 chart above. I will use this structure for an entry for wave 3 on the daily (blue) structure. For more analysis like this and for access to my personal entries and exits, install our mobile app and join our VIP membership for ZAR99 (±USD8) per month. App link: www.greenboxmarkets.com Let me know if you need any assistance Happy trading Linton
FX_IDC:XAUUSDLong
by Linton_White
WHALE LEVEL TECHNICAL ANALYSIS 99% of the ideas posted here turn out wrong only 1% of them are right this is the 1% so watch very carefully I actually created this exact chart quite literally all the way back one month ago and so far it has been following my path near perfectly bitcoin will not go lower then 6,000 before seeing near 10k again now is a beautiful time to be buying bitcoin today and tomorrow not financial advice but im telling you right now youll find out real quick whats what if you think im full of crap here is the link to the youtube video I posted showing this exact path wayyy ahead of time!!!!! www.youtube.com if your playing with millions and make millions off of this chart im giving you please just donate like 50 grand or something please I would really appreciate it!
BITFINEX:BTCUSD
by jordanmorin13
1
Trading Psychology Introduction to Trader Psychology There is evidence of technical analysis dating back to the 17th century. The candlestick charts most of use everyday to trade were created in the 18th century by a Japanese rice trader. By this point one would think technical analysis should result in more profitable traders and lead atleast a quarter of price technicians to a profit. However, this is not the case and in fact the opposite is true as most traders fail, even after years of studying price action. With this said, it is obvious learning how to read a price chart alone is not what leads to consistent profits. So what is it that seperates the very few succesful traders from the so many failures? Is it their strategy, their money managament skills, IQ, were they born with a different skill set than most, do they work harder than most, or are they just plain lucky? All of these sound plausible, but are they really the driving factor behind consistent profits? The short answer is no, none of the above. Perhaps we have been looking for the answer in the wrong place all along. In fact, most traders never even consider the possibility that it is their attitude or mental habits which prevent their success. What truely seperates the winners from the losers has nothing to do with external factors, but rather what goes on internally while observing and engaging the market, in other words; a traders mentality. "If the next bar is a bull follow through bar, the bulls have a 60% chance of making a profit. If the next bar is a bear bar that means....." Absolutely nothing! Unless you can structure a trade plan, and abide your plan as the market unfolds, without questioning yourself or your plan, and execute it flawlessly. Most beginning traders believe if they study harder and learn more setups, they will eventually become profitable. This is the fallacy of price action analysis. In fact, most economists and price analysts do not make good traders. Why? Because they form rigid rules and ideas as to what prices should or will do, and in turn fail to recognize and accept the "now opporutinty" the market is offering to traders who are open to all possibilities, including a lower probability event. Even more debilitating is the false belief that they can pick out winning trades, and avoid the losers, which leads to cherry picking through a traders edge. If the market spends most of its time with a probability between 40-60%, why is it so hard to generate a consistent profit? Understanding prices and their tendencies is only half the battle of becoming a Professional Trader. The other half and harder to develop, is the traders mindset. What makes a good trader is not only his knack for reading prices. It is the ability to flow with the market as it is unfolding, and the art of doing the right thing at the right time; without questioning himself. If the market is only offering X amount of profit, he takes it. If the market is unfolding in a way that he did not expect, he exits. He is willing to take a loss, and more importantly does not care what happens to "himself" in the market. He does not take it personally, and carries on throughout the day executing trade after trade. Continued...
Education
by tradersmentality
BTC/USD Analysis By A Full Time Trader - Buy And Sell CallsBTC is currently in a bear market and will be for some time. That's not to say that there is not opportunity for the savvy to take advantage of the uncertainty and hopefully gain some more BTC. It looks like the current bottom will be about $6400-6500. According to my calculations we will see a "third wave" and another down turn before the market either continues the overall downtrend or begins some sort of correction. Here's the play - if you're in the cash - wait until $6400-$6500 and buy in. If you are in an ALT coin - you will probably want to wait for them to rebound before jumping back into BTC (theres likely more upside). I believe the next sell opportunity for BTC is at $8500-$8600. I am forever bullshit on BTC but from my TA I see a larger bear market that might take a couple months to shake - so watching the market and taking advantage of the spikes is advisable to the risk tolerant! In the meantime - there are some very interesting short trades that could help you grow your holding. Traders help facilitate trade - never feel bad about selling or buying a little earlier than these projections - particularly if its a win! This is by no means financial advice simply analysis and opinion -Crypto is a volatile creature - do your research before investing. My analysis is based on a few method and years of experience. More to come..
BITFINEX:BTCUSD
by rgeddes
3
Halcon Resources- Possibility of MASSIVE up move!Hi traders, Halcon Resources currently looking like a great opportunity for upside movement. Price action showed a compelling morning star signal supported on Fibonacci retracement support and 50 moving average. Price is about to break a sideways resistance. Looks like a longer term 3 wave ABC move, of which I expect the move to be very very strong here, and move in a similar fashion to the first up impulse before it. Best regards, Tom_Killick
H
by TomProTrader
EURTRY - Bearish Swing Due? - What goes up must come down?EURTRY has been clearing up-trending for over a decade. The upside momentum has been significantly stronger in recent years, as seen by the more aggressive trend support lines. How long will the upside continue? Is price finally reaching a high? The main reason for me wanting to open a long-term short on EURTRY is the positive swap rate. I personally believe that these is no other currency pair (offered by retail Forex brokers) that has such an opportunity - an extremely high short swap rate with possible strong downside. A few things to consider... Price is looking over-extended . Recent bullish moves have been euphoric. The swing in January 2017 was almost vertical. From past experience, this generally means that a correction is due, and usually a major correction. Bearish pin bars and inside-bars. The current bullish swing is struggling to form a higher high. 31/07 saw a clear bearish pin bar close. This has been followed by an inside-bar with a bearish break-out. If price continues to remain quiet this week, this weeks candle may close another inside-bar. Possible signal of a shift in momentum? There is a lot of support. If price does start heading South, it may find a lot of support (unless EURTRY plummets). Dynamic support, trend support and horizontal levels have been identified on the chart. The only positive from all this support is that if the EURTRY closes below these support areas, they may then act as resistance, possibly helping price to move lower. Brexit. Yes, that word that frustrates the British (and perhaps the Europeans?). Who knows what this will bring to the EUR and GBP in coming months. A weakening Euro is a possibility but your guess is as good as mine. If the position is stopped-out, I will look for the next opportunity to short the pair. I believe this pair offers potential trades that should not be missed.
Short
by love-the-pips_SamMorton
USDCAD Long Trade SetupHey guys, just a short trading setup. We took a long position at around 1.3325 with a stop loss at around 1.33033 and initial target of 1.3387. This trade is just a range play. BUT why the position we haven taken is because of structure and Intermarket reasons, so we didn't just bought it randomly there is a strategy and structure technique behind it. For more see our signature. So we are bullish short term the USDCAD lets see whether it play out or not. As always never over leverage and always use a stop loss while trading and never risk more than 1% on each trade. Cheers
Long
by secrets2trade
(EURUSD & DXY) HOW INSTITUTIONAL TRADERS COMPARE THE MARKETS!MARKET ANALYSIS: As you can see from the charts both Eurusd and dollar index or showing opposite trade setups. So in Eurusd once the market breaks the flag pattern and closes above the zone we can go for a long. At the same time once dollar index closes below the rising wedge we can short the market below the zone for the given target. Now this is how a institutional traders compares a trade setup with dollar index, Hope this helps. Cheers!
TVC:DXY
by Kishore
14