Tag: Forex and Futures

How to set targets in trading? 8 best targets
Forex, Technical Analysis

How to set targets in trading? 8 best targets

Most traders spend all their time and energy trying to find the best entry. But then once they are in a trade, they are completely lost and they don’t know how to handle the trades. This leads to a lack of confidence, impulsive decisions, leaving money on the table by reacting emotionally and just making errors that traders will regret later. Knowing how to set targets in trading is very important, but often overlooked.A trader that has a precise strategy for their targets can trade with more confidence by eliminating guesswork. In this article, I explain the eight best techniques on how to set targets the right way.#1 Fixed Reward:Risk RatioThe simplest target technique is the fixed reward:risk ratio and the process is the following:1) Measure the distance between the entry and th...
Pivot Points For Day Trading
Forex, Technical Analysis

Pivot Points For Day Trading

It’s hard to fly when you can’t properly gauge your altitude. Pilots rely on instruments to measure how high or low they’re flying, particularly in cases where weather may prove challenging or dangerous. We can take this scenario as a metaphor and transfer it over to the currency markets.In the currency markets, there are so many factors–from monetary and fiscal currents to geopolitics and global trade–that can affect weather conditions. You won’t be able to keep track of every change that occurs (unless it’s your job to do so), but you can measure altitude in relation to price events that either have occurred or are just unfolding.One way to do this is to set weekly pivot points to contextualize your short-term trades for the week.How High or Low Might Price be ‘Flying’?The questi...
The best candlesticks – trading webinar
Forex, Technical Analysis

The best candlesticks – trading webinar

I held a YouTube live trading webinar on our YouTube channel where I talked, among other things, about the best 10 best candlesticks.I am a big fan of price action trading but I also see many problems in how most traders use candlesticks.On their own, candlesticks don’t have a lot of predictive power but once you put them into the whole chart context, they can really tell you a lot about what is happening on your price charts.I hope you enjoy the video!If you want to dig deeper into candlesticks and price action, make sure to check out my best-selling book: Technical Analysis MasterclassCredit: Tradeciety
Losing to profitable trader in 8 months
Forex

Losing to profitable trader in 8 months

In this article, I present 6 steps that helped one of our traders go from consistently losing trader to consistently winning trader in around 8 months. Furthermore, he did not just become profitable but also passed the criteria to become a funded trader.This is the message the trader sent us:Disclaimer: We have no affiliation with FTMO and we do not recommend them specifically. The trader chose the funding company independently. We neither endorse nor discourage traders from joining other third party companies.And now, let’s look into the specific things that helped the trader tun his trading around completely:1.  Process and routine firstThe trader said:If you have been watching any of my videos, you have heard me say: consistent results come from consistent actions and b...
Bottom Fishing Trading – How To Find Reversals
Forex

Bottom Fishing Trading – How To Find Reversals

The market you’ve been following just tanked. It’s hit a new low. But now, you see a glimpse of a potential rebound. It looks like a significant decline, but still, there’s no way to guarantee that it’s the bottom you’re looking for. As you know, one of the riskiest things to do is to predict bottoms and tops. Yet getting in on a position near a bottom (going long) or a top (going short) is the only way not to miss out on a significant portion of a trend reversal – or so they believe. In this case, thinking that this might be The Bottom, what might you do?There’s Nothing Wrong with Bottom Fishing (just don’t get eaten by the fish)“Bottom fishing” is a nice metaphor. And in a market context, the fish will devour you if you fall off the boat, proverbially speaking. Another metaphor descr...
Risk Management: The Best Defense is a Good Offense
Forex

Risk Management: The Best Defense is a Good Offense

There’s this old saying, often applied to strategic games as well as warfare, that “the best defense is a good offense.” Another variation of this is that “the only good defense is an active defense.” Let’s transform it a bit: the best of “defensive strategies” has an effectively “aggressive (offensive) component.”What we’re trying to say here is not that the two–defense and offense–are linked (which they are), but that one can easily shift to the other when the situation calls for it.As it relates to trading, a “defensive” posture can be tweaked to take on an “aggressive” function. In other words, “risk management” is as much an aggressive concept as it is a defensive strategy. You manage risk to calibrate profit potential, not just to avoid losses. Here’s an example that explores thi...
Mastering Technical Analysis and Price Action – Part I: Macro Analysis
Forex, Technical Analysis

Mastering Technical Analysis and Price Action – Part I: Macro Analysis

The technical analysis approach revolves around evaluating and capturing mass psychology and sentiments of market participants. Regardless of which technical indicator or other tools we use, mastering this technique, for the most part, involves analyzing price trends and chart patterns.Most beginner traders look at a chart and use the combination of technical analysis tools to make trading decisions based on a single dimension, often on a single timeframe, without paying attention to the big picture. As a result, when broader trends change or the market enter a consolidation phase, the systems they use cease to generate the accurate entry and exit signal. At this point, the beginner traders scratch their heads and do not understand how a profitable strategy suddenly stopped working.Big...
How do hedge fund traders get better? – Trading Podcast with Steven Goldstein and Mark Randall
Forex

How do hedge fund traders get better? – Trading Podcast with Steven Goldstein and Mark Randall

The content provided by Tradeciety does not include financial advice, guidance or recommendations to take, or not to take, any trades, investments or decisions in relation to any matter. The content provided is impersonal and not adapted to any specific client, trader, or business. Therefore Tradeciety recommends that you seek professional, financial advice before making any decisions. Results are not guaranteed and may vary from person to person. There are inherent risks involved with trading, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is solely at your own risk, you assume full responsibility. || Full Risk DisclaimerWe use Unsplash. A big thanks go out to all contributors of Unsplash! We use Flaticon for o...
9 Lessons from trading coach Mandi Rafsendjani – Trading Podcast
Forex

9 Lessons from trading coach Mandi Rafsendjani – Trading Podcast

In our latest podcast (click for all episodes) we talked to Mandi Rafsendjani and we went really deep into trading psychology, the mindset and how traders can become successful.Below the video, I compiled the 9 most insightful take-away messages that I got from talking to Mandi.1. Fill all your bucketsThe best traders lead a balanced life and do not derive their self-worth from trading alone. This will help you push through hard times when your trading results are not what you imagine them to be.Make sure that you have a supportive social environment, look after your family, surround yourself with people that add positivity to your life. Take care of your health, do sports and fuel your body with good food. Have hobbies, try out new things and explore your interests. Feed your mi...
Day Trading vs Swing Trading – What’s The Difference?
Forex

Day Trading vs Swing Trading – What’s The Difference?

Day trading and swing trading are two strategies worlds apart. Know the difference, and don’t assume it’s just a matter of trading frequency and time.Every trade or investment is based on the same precept: buy low and sell high. That’s the one thing that ties together day trading, swing trading, and long-term position trading. But aside from this one precept, each style has enough differences that a trader specializing in one might find himself completely unfamiliar with the other.But how different can it be, really? Isn’t it just a matter of ramping up your trading frequency, going for shorter profit targets, and limiting or expanding your trading duration? Yes, it is. And by virtue of those three things, day trading is a completely different practice from swing trading.If you’ve tr...