Online trading tips for Forex, Futures, Options. Learn how to improve your trading business.
The Butterfly pattern, discovered by Bryce Gilmore, is a reversal chart pattern that consists of four distinct swings in the market. The rules to identify the Butterfly trading pattern are strict and requires the use of certain Fibonacci ratios that were made public by Scott Carney. If you use ratios… Read more
The Turtle Soup trading strategy is based on the breakout trading system of the Turtles. The difference is that we want the breakout to fail when using the Turtle Soup strategy. The story of the Turtle Traders is a popular one and shows that people who have no prior financial… Read more
Trading is a game full of risks. Every trader knows that over time they will have some winning trades and some losing trades. However, just because a trader is aware of the risks in what they’re doing, does that mean that they fully embrace the risks associated and accept a… Read more
The average directional index, ADX for short, is a technical indicator that measures the strength of a trend. Given that most instruments spend more time in a consolidated environment, it is helpful to know if your market of choice has any life to it. There is nothing more frustrating that… Read more
Every trader during their evolution has thought that the market was out to get them. It is usually when your stop loss is taken out right to the tick and then the market continues in the direction you intended. If it happens on occasion, many of us can deal with… Read more
Some of the best chart patterns to trade, such as bull flags, are simple and that includes the “anti” pattern by Linda Raschke. The anti pattern takes into account both a pullback and a momentum move that setups up the pullback. As described in my article about trading pullbacks, we… Read more
The cup and handle chart pattern can be a continuation pattern or can mark the turn in trend from a downtrend to an up trending market. This would make it a reversal pattern. Why is this chart pattern called a cup and handle”? Price forms a U shape pattern that… Read more
Bollinger Bands are a popular trading indicator that was introduced to the trading world by John Bollinger in 1983. The visual nature of the Bollinger Bands makes it simple for a trader to see if price has extended far from the average security price. This tells a trader if the… Read more
Being in the business of trader education and trading system development, Netpicks has seen a lot in over two decades when it comes to those looking to trade for a living. One obvious thing to us is that that learning how to make money and develop as a trader has… Read more
The best way to answer the question “what are Renko charts”, is to describe them as fixed sized bricks that plot on your chart in relation to price movement. They are very different from the common bar chart, Japanese candlestick charts, or Heiken Ashi charts as Renko charts (Renko bricks)… Read more
Traders spend a lot of time back testing trading strategies, systems, and researching news events that are related to the market. The outside work such as that is important but many don’t spend nearly enough time working on themselves. More importantly, working on ensuring they believe in themselves. If you… Read more
Trading is accessible to anybody with internet, money, and a computer any time during the day. That is one thing that lures people to trading for a living because your schedule can be what you choose. Once they have put together a trading plan and back-tested their trading strategy, they… Read more
There are many trading articles on this blog that can help you virtually build your own trading strategy from. From topics about moving averages and price action trading, to stop loss placements and trading journals, you can learn to trade the markets and make a living. I wanted to go… Read more
Heikin Ashi charts may not be as popular as bar charts and traditional candlesticks but for traders who use them, they don’t care how popular they are. Charts generally calculate the high, low, open, and close which makes the main difference between (HA) Heikin Ashi and other charting types, being the… Read more
Day trading futures attracts many types of people that share one thing in common: they want to be successful at day trading. When the drive to succeed is strong and armed with a winning trading strategy, why do so many fail? What is the difference between the traders that succeed… Read more
Trading is easy. Pick a direction. Enter the trade Reap the rewards. Really, you enter a trade and get out with a profit or a loss. Right? Seems simple enough. Well, it is simple. Just not easy. There are so many things that make up a consistently profitable trader that… Read more
A bull flag pattern is a bullish continuation pattern used in technical analysis that occurs in a market that is in an uptrend. You can look for bull flags in the following manner: Look for an impulse move (the pole of the flag) in price to the upside during an… Read more
Why is a trailing stop loss an important strategy to use when trading? Are trailing stops a good idea? Nobody can predict with 100% accuracy where a trend will end. The amount of money that is left on the table by those happy to settle for mediocre gains, is no… Read more
The 50-day moving average is one of the more popular technical indicators used in technical analysis. Like all simple moving averages, there is nothing magical about the 50 day SMA and here is how to calculate it: Add all the closing prices of the last 50 days Divide the sum… Read more
Moving averages are a technical analysis tool that have been a staple of traders for decades. There are many types of moving averages that all use different formulas and the easiest one to understand is the simple moving average – the SMA. What Is The Simple Moving Average Indicator… Read more
Are You Ready For When Your Trading Strategy Begins To Fail?
Markets and the traders that trade in each market, are constantly in a state of change. No two trades are ever exactly the same and that’s even if we’re looking at the same instrument on the same day in the same market phase. But markets evolve over time as they … Read more
3 Things That Losing Day Trades Can Tell You – Are You Paying Attention?
You are going to lose in trading but the trouble is, many traders make the mistake of attempting to avoid losing trades at all cost. Negative trade outcomes are a big part the trading business and for day traders, the fear of loss can paralyze them but they must accept… Read more
Here Is How to Stop over Trading and Become a Winner
Day trading has the potential to keep you glued to the screen the entire day as you punch in and out of trades. It can actually be addicting as you watch the increase in your trading account – perhaps not so addicting when the losses come. But even with the… Read more
Should You Scale And Trail Your Trading Profits?
Trade setups and entries are one of the most searched for topics when it comes to trading. What gets missed is the exit strategy you will use to exit your trade for profit or at your stop loss. I have a question for you: “How many times have you been in… Read more
Complete MACD Indicator Settings and Trading Strategy Guide
One of the first indicators I ever experimented with was one developed by Gerald Appel in the late 1970s called the MACD indicator, otherwise defined as the moving average convergence divergence indicator. The MACD histogram was added in 1986. Right from the start I used it as a technical analysis tool,… Read more
13 Forex Trading Tips Every New and Experienced Trader Must Know
Some of the best Forex trading tips that can lead to trading success are usually the simple ones. Given that Forex market is popular for both experienced and beginning traders, you know there are quite a few tips available for all traders With low initial deposits depending on your account… Read more
Lack Of Confidence Will Kill Your Trading Dreams
The success rate in terms of successful traders, by all accounts, is pretty poor. This has the potential to rip the confidence of anybody thinking of making trading an income producing activity. Trading is a performance sport and just like any performance endeavor, without confidence with what you are doing, you… Read more
90 Second Crude Oil Trade Win
Another Crude Oil Inventory Report trade and our trading system, Counter Punch Trader, banked us (and our trading room members) a first trade winner with overall exposure time in the market of less than two minutes. This is what successfully trading for living is about – repeating the same actions over and over again… Read more
Crude Oil Inventory Report Trade Recap
This crude oil trading session for Feb 28 2018 had some excellent learning points in it and it would have been easy to get tripped up if you were approaching your trading without a concrete approach to the markets. All of our Inner Circle members and those who attend our live trading… Read more
3 Principles Of Mindfulness Trading
In a post entitled Take A Break From Your Trading Screen, I touched on the benefits of shutting off your focus and letting her brain take a break. For traders, where the need of intense focus is immense, being able to step back mentally is vital. Up until the last several… Read more
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