Archive for the Trading Category
The nonfarm payroll or NFP is an economic news item which comes out once a month in the US and details the number of jobs added or lost in the economy over the month. This is always a big event and in most cases, massive movements in all markets are seen when it is released.
You can read more about the nonfarm payroll through the Wikipedia entry here: http://en.wikipedia.org/wiki/Nonfarm_payrolls
I'm going talk about trading the nonfarm payrolls.... don't do it! In my experience I've found t
December 2, 2011
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The one thing that is certain in financial trading is LOSS. There are no way that you can avoid this and you have to learn to work with losses with your trading.
Newbie traders move from system to system looking for the 'Holy Grail', that's the trading system that yields no loss and unfortunately, that's not possible.
What you need to do is to find and work with a system where the wins completely outweigh the losses. That doesn't mean that you physically need to have more winning trade
November 29, 2011
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I went for a scalp trade today, going long Crude Oil when it went back up the pivot line. I got a price of 98.60 which wasn't a bad entry. I thought that the first resistance would be around 99.00 due to it being a round number and also, just previously you can see how it affected the price.
I got out at 99.97 taking 37 points and felt rather proud of myself as it started to retrace. However, it hit the pivot line again and bounced upwards. It actually hit 100.00 which would have been anoth
November 29, 2011
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