Support and Resistance

Support and resistance is an important element of trading. The main reason support and resistance is so important is because identifying these levels can help you to better identify good entries. Beginning traders who are following the markets will generally start by noticing tops and bottoms of the markets. These tops and bottoms are the


Chasing the Market

Your first loss is your best loss; if you try to get it back in a vengeful way, everything can go downhill for you very quickly. Stemming this negative tide can take a lot of self-control, so if you have an undisciplined personality by nature, this is what could make or break you as a


Simplify Your Trading

The more complex a trading system is, generally speaking, the more confusing it is to understand, the harder it is to follow, and the more difficult it is to implement. For starters, let’s talk about simplifying. This can apply to many areas of life; however, it is a critical element to having a successful trading


Trading With the Trend

I believe that, for some traders, there is a natural tendency that makes them want to trade against the prevailing market trend. Most traders have heard the old adage “the trend is your friend”, but saying it and applying it are two completely different things. When traders see an ongoing trend develop and age, I


Align Your Trade Management With Your Method

Trading is actually not that complicated when you break it down to its simplest form. When we are trading, we are merely trying to recognize repetitive patterns that occur in the market as early in their development as possible. We really only need to know a few things, which include our entry point and our


Are You Trading or Gambling?

How do you know the difference between trading and gambling? Can you tell when you have crossed the line and become one versus the other? I believe that one very good way to know which one you are is if you have a trading plan that your trading business actually follows. Of course this would


Know How to Lose

Speaking with many different new traders, we often hear them speaking about how much money they want to make when they are trading. They speak about things like their winning percentage and how much they are going to make with each winning trade. They focus on the great vacation they are going to take, the


The State of the Economy

Lately the economic news that has been coming out of Washington has not exactly been stellar, though our economy does seem to be holding its own somehow. This has contributed to the stock market gyrating daily by a good amount. It seems as though it is very common these days for the market to make


End-of-Day Forex Trading

Most good charting software and trading platforms, provided by a good broker or bank, include the ability to plot daily bar charts where the daily bar “closes” at 5:00 p.m. EST. This time is selected because it is coincident with the New York session “close” and the Sydney “open”, which is a relatively quiet time


Financial Goals for the New Year

If you didn’t set your financial goals for 2015, before the end of 2014, you may be late in doing so. But even though the New Year has already begun, setting goals for the year as soon as possible is still a good idea. If you don’t, you may experience the old adage, “If you