Posts Tagged Trading
The markets have been rather choppy where pullbacks have been quite large. I've been focusing on the 15 minute charts to grab a few pips here and there. Here is what I did today.
My first trade was crude oil. I could see that a 'W' pattern had formed in the 15 minutes. I had talked about the W pattern before in previous posts on the blog.. you can read one here:
http://www.makemesomemoney.co.uk/2011/09/01/the-w-pattern-in-oil-price/
It's basically the market finding support. I went
December 12, 2011
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The difference between consistently profitable traders and those who are not is the subject of this post "sometimes the best trade is no trade". Successful traders understand this, it is about being patient and ensuring that the conditions are exactly right for a trade, ie a valid signal to take an entry. Traders who are not so successful feel that they need to be in a trade all the time to be successful and will think that a setup is 'almost right' and therefore happy to jump in early.
B
November 29, 2011
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I don't usually trade off the 5 minute charts but sometimes you fancy doing some scalping when you're at a loose end. Most of my trading focuses on the 1 hour or the daily charts.. with these, you don't need to be at the screen so much and I've found that you don't worry so much about the 'noise' in the market.
Anyway, here is a trade which I took from the 5 minute charts for a paltry 6 pips (I got out as the price action looked as though it wanted to go up and also the stochastics were indic
November 28, 2011
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