I’m often asked ‘What is Swing Trading and why do it, rather than Intra-Day trading? This post is an attempt at answering that question and also to highlight my view on the Pros and Cons of Swing Trading. Continue reading
One of the key elements to being a successful discretionary swing trader is ‘Preparation’. I’ve written about this to some extent before and covered the 5 or 6Ps. The best trades I have had, have all been pre-planned. Thorough preparation before taking any trade, particularly swing trades, tends to pay off handsomely. This entails the following: Continue reading
In previous posts on my Blog I have written about the the 4 Ms and the 5 or 6 Ps. I thought it about time I added the 4 Cs! The 4 Cs came about through Swing Trading. When I am looking for Swing Trades I use Multi-Time Frame Analysis (MTFA) in my trade planning. People have asked me in the past why I ‘laboriously’ look at all the different time frame charts when looking for and planning a trade, rather than stick to a single time frame. Here is why.. Continue reading
As the Brexit Referendum looms, it seems an apt moment to write something about Risk and Risk Management.
The UK Brexit Referendum is clearly a High Risk news event and probably far to close to call at the moment, whatever your view. Other High Risk news events include General Elections, the monthly Non-Farm Payroll (normally the first Friday of every month) and also other events such as the minutes from the Federal Open Market Committee and BOE Minutes and Interest Rate Decisons by Central Banks various.
As a trader you need to be aware of such High Risk events and conduct your trading accordingly. The last thing you need to do is expose your trading account to too much risk in the run up to such often highly volatile events. Better to scale back or not trade than to essentially toss a coin and become in effect a gambler.
There are many ways you can control your risk when trading: Continue reading
(With apologies to William Shakespeare in this 500th anniversary year!)
To Trade or NOT to Trade, that is the question;
Whether ‘tis nobler in the mind to suffer
The drawdown and losses of unplanned impetuous trades,
Or to wait with patience for higher probability setups,
And then to plan and trade them with discipline and calm,
Whilst managing your Risk and being focussed on the process,
And as a consequence, reap fine rewards for one’s labours!
Whilst doing some Housekeeping in my email account, I came across and was reminded of an email I had sent as a reply to a prospective student, who unfortunately could not afford our Personal Mentorship Programme (PMP) lessons. In my reply I wanted to be helpful, so I tried to summarise the Key areas that he should work on until he was in such a position to be able to take advantage of our PMP. Here is the main body of the email, with a few additional tweeks, containing what I suggested:
‘No problem, the key things you need to concentrate on are: Continue reading
Today we launched the first module of our Forex Trading Success Formula and each week, in addition to our 2 e-guides on trading, subscribers will receive a new module to help them in their quest to become consistently profitable traders. It doesn’t matter when you subscribe you’ll still receive each lesson or module in the right order at weekly intervals.
Module 1 – Expectations – addresses initial expectations; taking responsibility for your trading actions; accountability as a useful tool to keep on the straight and narrow plus lots more.
So just enter your details in the box below and we’ll see you on the inside.
At the last Traders Forum in October, the size of peoples’ Trading Account Capital was raised and I was a little shocked and surprised to learn that the average Spread Betting Account Capital was between £200 to £500. Why was I a little shocked and surprised? Continue reading
A Happy and Prosperous New Year to all our readers!
Last January I wrote a Blog article on how to turn your ‘New Year’s Resolution (to learn how to trade Forex) into Reality’. I have just re-read it and it is still very relevant and can be used as a good tick off list for any aspiring Forex trader. It covers most if not all of Continue reading
Today I entered a trade a little too early and currently have a small drawdown, but not to worry as I have stop losses in place to protect my trading capital. But if you think about it, trading is quite like Comedy, it’s all or mostly about timing. When a comedian tells a joke, even if it’s a mediocre one, they can still make people laugh if the delivery is timed correctly. Similarly the difference between a losing trade and a winning trade can be getting the time of one’s entry correct. Continue reading