FDO gapped down and then made a sharp downmove on the open. I caught some of the downmove with a Momentum Trade. But then the momentum short was over and I had a decision. Do I look to trade $FDO for a bounce or for a continuation move? I chose the former and will explain w1hy. The market has been … Read More
Trader Disney Land
Hey Mike, I recently blew my profits gain from the past 3 months in one stubborn trade. And not I dare not go in again as I fear I could be wrong again and lost money. My system was right but my emotions was burnt. This is not the first time I lost a trade but somehow I couldn’t pick … Read More
Our markets are broken but still the world’s best
Bonjour. As I write I am flying from Paris, the most beautiful city I have ever seen, to the French countryside for a chateau wedding. Since there is no gogo internet access on the flight and I am sans iPad I thought I would share a story about a future trader I lunched with in Paris. Perhaps some will see … Read More
Conviction Makes a Good Trader Great
A few days ago the head trader of our equities desk, GMan, had an exceptional day. Jokingly I sent him a message that read, “Now I know what ‘G’ stands for in Gman: Grande”. I’m writing about him here for two reasons. First, a significant part of his returns came from a position in the EUR/USD pair which he took … Read More
Unleashing Trading Potential: Leveraging Market Profile Strategies
The new trader is usually in a rush. They want to be handed a system that will make them profitable practically overnight. A professional and consistent trader is one who is usually informed in a way that goes against the conventional. Getting to that level of knowledge requires building enough experience with conventional information so that you can make it … Read More
Three Ways To Gauge Volume in the Forex Market
Volume is a key component in technical analysis and in momentum based trading strategies. Heavy volume usually leads to sustained price trends and higher quality intraday momentum. In contrast, lack of volume usually leads to a lot of broken keyboards, computer screens and accounts. So it can be very beneficial for a trader of any instrument to have a sense … Read More
The Opportunity for a Prop Trader
@DynamicHedge wrote a must-read piece recently that went viral, “Letters to a Young Trader”, in which along with buckets of awesome advice he also asserted prop trading shops are dying. This is true. But this is not the same as prop trading is dead and/or ALL prop shops are dying. That would not be correct. The author never stated this but … Read More
The Opening Drive Play (UA)
I was watching UA on the open and I wanted to write up this drive because I feel like I’m a bit more comfortable with the slower setups in a trending environment. On the open the timing windows are shorter, the price movements are more whippy, and at the moment it’s generally more difficult for me to control my risk … Read More