dtcandle – candlestick pattern analysis

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Is psychology your biggest weakness in trading

I have read dozens of trading books. Some helpful and some not so helpful. However, one common theme runs throughout all the books I’ve read on trading: Trading Psychology.

Some trading guru’s say that trading psychology makes up 90% of your trading success whilst your system and rules and money management make up a mere 10%. Whilst this may be a bit drastic, I do believe that psychology is the area where traders struggle the most. Most beginner traders focus more on buy and sell signals and order execution, while experienced traders will suggest that trading psychology is the area that they should focus on in order to become consistent, profitable traders.

Its so much harder to look inwards to improve your trading than to focus on external factors. Traders would rather search for that perfect indicator or that Holy Grail system than focus on their own weaknesses and psychological makeup because its difficult, really difficult.

As individual traders we have two ways of handling this. Firstly, we can try to overcome our the psychological issues that are holding back our trading or we can automate our trading so that psychology plays no part at all. Its a choice between overcoming our weaknesses and eliminating them from our trading.

Overcoming psychological issues in trading is a long and hard process that one can improve and control but never eliminate entirely. You could seek the advice of a trading coach or take a course or read books, but ultimately learning to control your emotions and psychological state will be a life long journey of discovery. We are particularly susceptible to psychological weaknesses when we are tired or under stress. Trading under these conditions makes it even more challenging to deal with, however due to the nature of the market we often trade in these circumstances.

By building an automated trading system you eliminate human error and psychological issues from your trading. An automated trading system is one where you build and test your trading strategy and then instead of manually making the trading decisions based on your rules based system, you build a simple automated program to run your system automatically. This eliminates trading errors such as entering the incorrect lot size or limit price, forgetting to enter a stop loss or closing a trade too early. More importantly though, it eliminates the possibility for you to move your stop loss out, or enter a trade that has not been confirmed as an entry by your trading system. Worse still is riding a losing trade for fear of realising the loss. Traders can rationalise strange behaviour in the heat of the moment and easily sabotage their results by deviating from their rules based trading plan. Your auto trading program will never deviate from the rules that you set and never get fatigued. Your auto system doesn’t get stressed, greedy or fearful.

If it is true that trading psychology makes up 90% of your trading success, then why not remove it from your trading by introducing automated trading software? This allows you to focus on the other 10%; the actual rules based trading system that every trader needs in order to be successful. This is the fun part! Traders enjoy building and testing trading and money management systems.

Focus your efforts on developing a water tight system that suits your needs and use automation to implement your plan. You’ll reduce your error rate and improve your trading results. The fewer mistakes you make the better trader you will be.

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AI Forex Robot Review

A.I. Forex Robot is a fully automated forex trading robot that was created to give you a hands free trading tools that was proven to give you 95% accurate winning trades.

One recent test of this robot on a live account turned a $10,000 account into $55,383.14 which is a profit of over $45,000! These results were achieved in just 9 months. During this time, the robot made 361 trades, of which 279 were profitable, giving this EA a 77.29% win ratio.

I only invested $1,000, which for me is a lot of money. I have had great success with this system and I have only been using the program for a year. Saving for my retirement and my childrens college tuition no longer scares me. I feel so relieved knowing my future and my childrens future are taken care of.

This is a super advanced fully automated trading robot that can give you plug and play trading system. This system can completely remove human error in your trading. It completely calms all the emotions out of your trading. The system was proven to give you huge and consistent trading profits.

Forex Robot creators offer more than its competitors.
1.) They show you how their robot actually works and show you the exact settings to change if you want to alter your trading strategy for any reason on the fly. This is what makes it great for both beginners and season traders alike.
2.) They want you to understand the forex market, how the robot works, and why it places the trades it does. With the manual and the A-Z forex trading training course, youll be able to understand the basics of forex trading and the methodology behind the strategy that is used in the AI Forex Robot.
Donald Wilberg and the creators of the AI Forex Robot are going the extra mile to ensure their customers are profitable. With their 24/7 customer support team, no customer will be left on their own. If you have a question, simply contact them.
The limited launch is said to have a launch price point at just $97, which is a one time payment, no monthly payments. Normally you would see price tags of $129 and upwards of $300 for one expert advisor.
I admit if you buy this product through the link below I will make a profit from the sale. But I strongly encourage people to use this program because knowing my future is financially sound has been such a great feeling. If you compare this product to its competitors you will see you get more and you pay less with AI Forex Robot. I was able to make a good profit from it even though I have only been using this program for a year.

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Vital Tips on How to Understand Forex Investing

A lot of folks who have made the decision to penetrate the foreign exchange investing should educate themselves 1st. It’s very critical to understand even the fundamentals of forex investing

to acquire achievement, but that is no guarantee, not by way of a long shot,

you will need to know far more than the basics to even possess a combating chance

of succeeding. You’ll find distinct approaches to understand forex trading.

It is possible to be a part of on the web companies, enroll inside a forex trading school, turn into an apprentice of the foreign exchange trader, or get it done alone. Nonetheless, performing it on your own involves a lot of dangers especially for newbies. For novice traders, it is much better to choose the safer approaches of studying forex investing. You might be planning to benefit from experienced instructors who are currently trading forex in real occasions. Within this manner, you happen to be getting acquainted using the genuine market circumstances. You might be provided the opportunity to see the true processes and decisions which it is possible to later on adopt. Nonetheless, it’s your own strategy that will win you up. You will find six basic steps that novice traders can adhere to to achieve good results inside the foreign exchange markets.

1. Proper attitude. Participants who’re productive in buying and selling foreign exchange requires on the frame of mind of doing what it really will take to attain achievement. This stresses that good results lies on the person who are buying and selling forex by itself. It doesn’t matter in the event you read forex investing tip sheets or hear foreign exchange trading guru. It’s going to become invalid if you don’t possess the proper frame of mind for good results.You can conduct experiments on your own for two weeks with each other with other novice traders. They’re frequently named as turtles. Understanding forex investing is staying away from the trap of believing that you can actually acquire good results by following an individual else. Just get the best knowledge and create a technique of your own.

2. Correct approach. It need to include lengthy expression tendencies. Bear in mind the trend on massive currencies may last for months or even for many years. It can be your obligation to lock your self in to these trends to create large earnings. It is finest recommended to use the breakout methods capture long-term trends. This strategy is already proven by major trading methods. Excellent software program can also be recommended to be used. It permits the trader to check the trading method which was selected and later on trade it on real occasions. You need to understand suitable charting and mapping. There is currently available software that may assist you concerning market moves. It is going to allow you to definitely determine the best instances for promoting or purchasing if you are capable to read forex marketplace charts.

3. Right discipline. Participants ought to discipline on their own by strictly next on their own created strategies even when losing period?s strikes. It may educate them new techniques on the way to survive the forex markets even though downfalls strike.

4. Proper understanding. The traders can speedily understand the breakout approach, nonetheless, they ought to also overcome psychological pitfalls associated with forex trading. It really is suggested to study motivational publications that mainly concentrate on this make a difference.

5. Consider the dangers. The frequent error completed by most forex traders is attempting to restrict the dangers. Inside the end they may suffer fantastic losses due to the fact they are getting blocked out in the forex market place. The trader?s direction is correct nevertheless the trade doesn’t have sufficient room for downsides. Usually remember that in forex investing risks lays the rewards. There’s a distinction between rushing in taking dangers which are already calculated. It only permits you to definitely wait for the correct opportunity.

6. Buying and selling in isolation. The trader really should discover this to keep concentrated. Bear in mind that if you’re open to the views and viewpoints of other people, it might discourage you if you find it very various. It does not essentially imply you adhere to the viewpoint agreed upon by several traders, because most usually, several traders acquire losses. Foreign exchange marketplace is regarded as the largest market place inside the globe. It is operational twenty four hours a day, five days per week. Its processes are been performed in real instances without having boundaries. The trader?s success also depends upon the right decision generating. Studying forex buying and selling don’t have any barriers and entry points so you’ll need to have much better comprehending ahead of plunging into enterprise. Despite the fact that some people suggest that learning foreign exchange while trading is the greatest, but it is usually your choice to decide on the top method to find out that may fit your needs.

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Forex charting packages

If you are looking for a Forex charting packages which is very accurate and will supply you with never ending profits all the way then think again. There is no such thing. However, you can drastically increase the probability of successful trading by utilizing a combination of different tools which, when interpreted together, can give you a significant edge in making successful trades.

There are three main areas of analyses generally available for Forex Charting Packages.

Trend Follow Indicators include moving averages, moving average convergence-divergence (MACD) and directional movement index (DMI).

Oscillators – Some of the more popular oscillators at the moment are Stochastics, Rate-of-Change and the Commodity Channel Index.

Sentiment indicators include Put-Call ratios and Commitment of Traders report data.

The above are the basics but you need to combine these with other indicators for a better chance of successful trading. One is the Wave Principal.

Interpretation of the Wave Principal will give additional pertinent data to your existing analysis. Data such as identifying the trend, the maturity of the trend and indicating price targets. Utilizing Elliott Wave Rules on top of this can also indicate when the trend will fail.

Wave patterns in a trend are repetitive and subject to analysis within certain limits. A single wave can be part of a 5 wave pattern, which itself can be part of a larger 5 wave pattern. Once this is known, the pattern, if accurately diagnosed, can be used to predict the next wave, thus enhancing your buying or selling decisions.

Thirteen distinct wave patterns have been identified and analyzed. Naturally, there are numerous additional patterns that occur when two or more of these patterns are superimposed on each other. So, the question you should be asking yourself now is how do I identify where the stock is on the wave?

Forex Charting Packages Interpretation.

Well, if your interpretation is correct, then the prices will rise or fall in the predicted direction. Each wave has distinct attributes that are subject to analysis, for example, if volume is high and prices have dropped to 0.382 (a Fibonacci ratio) of their previous high then you can use these specifics to correctly identify which particular wave you are considering.

The MACD, often seen at the bottom of price charts, denoted as a thin line, is the difference between two moving averages, the 12 period and the 26 period. This line is shown with the signal line, denoted as a thick line, a 9 period exponential average of the MACD line. The normal technique is to buy or sell when these lines cross. However, this technique is crude and can sometimes be erroneous. You will perform better if you can isolate and identify the more subtle indicators that occur within the gross graph.

For instance, check, using your Forex charting packages what happens when the MACD line approaches the signal line but then diverges from it just before crossing it. This could indicate a trend change but always remember this is not an exact science. It should be used as an indication of a possible change, or as an indicator of something to note and verify by other Forex charting packages.

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Approach Experts to Garner Assistance with Forex Transaction Matters

Over the years, offshore trading companies have gained massive attention and have stepped up to the limelight. In the present age, the globe is no more differentiated by borders when it comes to conducting business. The international foreign exchange market is massive and businesspersons, who have a knack to understand this massive market, can make huge fortunes instantly.

The foreign exchange market proves to be a lucrative platform as different currencies that vary in terms of value pool in. Many companies provide various instruments that help in trading the legal tender and commodities markets. These instruments include spot and cash trades for quick and easy settlement and contracts that helps businesses to be on the safe side with limited risk options on futures.

Before moving ahead to any in-depth details about offshore trading, it is necessary to understand the term in the simplest manner. An offshore bank is an institution that operates outside the shores of your country and assists you with different foreign transactions. For instance, if you are located in Russia then a financial institution in China is an offshore bank for you.

Individuals and businesses usually maintain an account with an offshore institution in order to conduct trade with different international countries. However, easier said than done, understanding Forex market can be complex in nature. Maintaining accounts with an offshore institution needs to be carefully done as the ever-fluctuating foreign exchange market can produce both favorable and unfavorable outcomes.

To make things easier, many businesses have made their appearance that lends a helping hand with matters of foreign exchange market. These businesses conduct Forex Seminar for companies that are willing to maintain accounts with offshore institutions. These seminars shed light over different crucial topics that aid businesses to understand how the foreign exchange market works, the tactics that can be used to take advantage of the value of different currencies, strategies to escape unnecessary tax and tariff duties, and numerous other topics.

These seminars are conducted by experts, who have immense knowledge and practical experience operating in the foreign exchange market. Now a days, there companies that help businesses to manage their offshore account on their behalf and exercise tasks in a smooth manner. Hiring professionals to look after your Forex account always help you obtain an edge over the others who are at present involved in the market.

It not only becomes easy for you to take advantage of the Forex market but it also become possible for businesses to stay on the stay side with professional assistance. In many cases, businesses usually give a second thought before registering a Forex account. This is probably because of the shady offshore deals that are glorified over the media.

With experts assistance, you need not ever worry about being indulged in any illegal transaction processes or other acts that lead to unfavorable outcomes. These professionals ensure to undertake the accounts of their clients in the most transparent way. It is always recommended to attend Forex training prior to being indulged with any offshore activities.

Suissetrade is top-notch business group that aims at offering reliable Forex services. The experts of Suisse Trade conduct Forex Seminar for the masses from across the globe to educate them about the prevailing offshore trading matters. Visit the official website of this company to know more.

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Best Strategies in Winning FOREX Trading

FOREX is a great opportunity to make money for everyone! And in this presentation, you will learn how to succeed in this business and stay successful for years to come without a special degree in trading and economics. Because the information you are about to get is very simple and strait-forward.

You can even quit from analyzing the market and reading the news paper. You will be taking a better and distinct approach. High-quality third-party FOREX signals with exceptional money management and entry/exit system are at hand for your advantage..

I am aware that currently there is a controversy discussed within the FOREX trading community about the third-party signals. Many people win while some loose. The main reason behind the failure of some people who use high-quality signals is they mistakenly take the signals as an overall trading system. Instead of looking at a coming signal as a direction to follow, it must be treated as a clue. Opening a position basing on a signal can be safe, however closing it or fixing losses must abide to special rules in order to do it correctly.

My five years experience of making the most of third-party FOREX signals in trading has brought me a great success. And currently I developed a trading system that keeps me in the winning side always.

My trading system is based upon some significant factors which are the FOREX signals, money management and special rules of buying and selling position. This concept is easy as one, two, three If at least 51% of the signals result in profitable deals, and if the potential profit of every transaction is at least twice more than the potential loss, then such a system is profitable.

The idea is simple… Consider a system profitable if at least 51% of the signals result in profitable deals, and if the probable profit of each deal is at least two times more than the potential loss.

I also receive winning signals from a couple of signal providers which I am also using, both of them provided me somewhere between 55% and 60%, which is pretty significant for a profitable system. I am also strict in applying the money management rules and I will only enter the market if a certain deal can provide me with at least 2:1 profit/loss ratio. To cut my losses down to a minimum, I use a special algorithm of handling stop losses, well… without losses.
The reason behind my profitable and reliable system is that it lets me to exit half of loosing positions with a zero profit loss. You can do the same way like what I did with trading so you can make sufficient funds to sustain the life you want to live.

Just enter your email address in the box and press the orange button to get instant access to my free training where I will explain my trading system in details.