A great trade set-up where risk can be kept quite minimal, there is a good probability of success and the pattern is fairly easy to spot. It takes a lot of patience though, and occasionally waiting for this pattern to develop means we will miss out on a great trade because our entry wasn’t triggered. […]
Despite being called the Commodity Channel Index (CCI) this indicator is not just for commodities. It can be used for all markets. The CCI is an indicator which oscillates back and forth, above and below zero. It can be used in multiple ways; here are two strategies that utilize it. Basic CCI Strategy The developer […]
Following the trend may not be cool in some parts of your life but it can be very profitable when speculating financial markets. This article is a follow up to a previous post I made called “Two Rules For Trading With Oscillators”. What are the two rules? Only take trend following signals and beware false […]
The major forex pairs, including the EURUSD, GBPUSD, USDJPY, USDCHF, USDCAD, AUDUSD and NZDUSD are the most discussed trading pairs, and yet there are a whole host of other forex pairs out there to be traded. Just because the majors get the most focus in the media doesn’t mean they are always the best pairs […]
While there is much less volatility in the EURUSD when London or New York aren’t open, there is still potential. Not typically a time I trade, I couldn’t help but notice how the EURUSD respects the Envelopes originally discussed in the EURUSD Day Trading-Oct 7 (and subsequent posts) during the quieter time of day, after […]
When starting out, and throughout a career of trading, goals have been of great value. Yet when goal setting people typically make several mistakes which can lead them astray. Here we’ll look at a couple goals new binary traders should set out to achieve, and why these goals (compared to what most people strive for) […]
Continuing to experiment with the “envelope strategy” (initially introduced here and in later posts) at times other than near the US open, on February 20 the strategy would have also worked well in the late US session. While the strategy uses an indicator, ultimately the strategy is about reading price action and noticing tendency in […]
Misusing trendlines can result in a number of trading problems. Since trendlines are often one of the first technical analysis tools new traders learn about, there are several things you should know before you start relying on them too heavily. While each of these points is addressed individually, they all need to be considered while […]
The RSI, or Relative Strength Index, is a popular technical indicator, and has many different uses. By looking at the range the RSI is fluctuating in, it is often possible to tell whether a price trend is likely to continue, or if it is reversing. RSI Intro The RSI falls into a family of indicators […]
Having a working strategy is one thing, but knowing how to use it is another. I’m going to guide you through my strategy that I use for trading currency pairs. But you will have to practice and spend time to master it before you consider trying it out on your live account. If you are […]