Archive for October, 2012

Overconfidence and Trading

Overconfidence and Trading

I've had a really good week trading the markets... just under 300 points in profit in total through being extremely disciplined and selective with my trading. I find that there are so many personal caveats that we have to work on for ourselves to improve on our trading. The markets cause havoc with our emotional states and it's easy to swing from elation to desperation to frustration all in a few minutes! Being too far into any particular emotional state is disruptive to your trading and overcon

October 26, 2012 1 Comment Full Story

Pinbar Trading – Something that should sit in your Trading Strategy

Pinbar Trading - Something that should sit in your Trading Strategy

Pinbars show signs of strong buying or selling and they are great indicators to enter a market. The safest time to use them as trading signals is with the trend and when the market is experiencing a pullback. An entry with your stop at the bottom of the pin should do it.. then just ride it as far as you can. There were quite a few opportunities this week and one of my weaknesses in trading is that I am unable to have more than a couple of open trades. As a result this week, I missed a couple

October 19, 2012 3 Comments Full Story

Gold trade for the week

Gold trade for the week

The markets have been kind to me the last couple of weeks... quite a few signals and decent follow through on price action. So on Wednesday I had gone short on Gold.. the trend had been down and I saw the bounce as a retrace. You can see how the price got stuck around 1750 which also happened to be the 50% Fibonacci of the initial fall. I got in at 1751 with the initial target around 1730. However, when I saw the pin bar in the 4 hour (as in the chart) I too profit around 1742 only for th

October 19, 2012 No Comments Full Story

« Older Entries