We are excited to share the all new #ChartDynamix Multi-Interval FX #TrendScanner for Windows Desktop is officially in beta-test! Many more great features including email/text alerts and custom signal generation are on the way!
Trade Log: Price rallied briefly this morning off the NY Open into a previous area of large selling-imbalance. The predominant trend direction on the Daily and Hourly charts was clearly up so we do not engage the short at this area without confirmation. Overnight global [...]
Human Ego affects all traders. Regardless of whether you are a Buddhist monk or excellent disciplinarian, every trader struggles with taming their ego... Make sure your ego is in control. We'll be posting some more extensive content about Trader Psychology over the coming months.
1. Pre market Planning Your pre-market planning routine will set the stage for all your trades as well as your trading day and week. This is the time to get all your preparation done and also get yourself into the appropriate mindset. It may include [...]
While there are several factors that make a trade successful, these components are essential with every trade you place: Plan every trade ahead of time. This includes entries, targets, stop losses. Avoid surprises by only trading during high-liquidity hours. Watch for news releases and avoid [...]
Having a positive and consistent morning routine will go a long way to becoming a successful trader. Most morning routines that we have used in the past include some kind of meditation and relaxation of the mind. This is the most critical part of controlling [...]
Failing to have a trade plan The number one mistake that most day traders make is not having a trade plan and strict trade process. A trade plan is a set of rules that each trader must create. These rules allow the trader to be [...]