“A trader is the weakest link of any trading system" (Alexander Elder)After 4 years of winning and losing hundreds of trades and blowing out several accounts both demo and live, trying different systems, experimenting with many strategies, I am still unable to achieve my trading goals and become a consistent profitable trader. I wonder why I am taking two-step forward one step backward and on…

    "When market conditions change, I change my mind" (J. M. Keynes)      Greetings dear traders. Today we are going to make our usual analysis for 5 of the major pairs: Eur/Usd (Fiber), Gbp/Usd (Cable/Pound), Usd/Chf (Swiss Franc), Usd/Jpy (Jap. Yen) and Aud/Usd (Aussie). We will also try to cover some of the commonly market conditions for a trend.   To better understand a t…

 INTRODUCTION What makes the difference between a planned trade and an impulsive and/or intuitive trade is clearly seen in your account statements. Trading requires accuracy, and deciding a position is always a matter of feeling and confidence and we must find the way to increase the degree of these 2 factors.What i did with my previous article1 and what I will keep doing here (and in all nex…

This article is a follow up to the earlier article entitled:   10 Psychological Obstacles to Success   The aim of trading is to trade in a logical, predictable manner with the minimum of emotional conflict. In general, most traders battle with their emotions. Emotions are located in the unconscious part of the mind; to overcome emotions, people need to either use willpower, or to retrain t…

                                                                 MY FLAWS As a man and a human being I accept that I have flaws. Those can be seen in my trading as in other parts of life. (1) PROBLEM I have a tendency to be impatient. Instead of waiting for a part…

Come Monday, we are all scurrying up to set-up charts for the week's bias. Given that the weekend was a negative close for major currencies, the Asian markets and Bourses are a bit neutral and relying on the European news for direction. Generally I am reluctant to trade on Asian Monday, markets are directionless unless there is a pertinent news making the currencies move. As Nicholas Taleb, puts i…

IntroductionATR indicator is the acronim for Average True Range. This indicator was developped by J. Welles Wilder. Wilder is a american mechanical engenieer who is the father of several other technical indicators: RSI (Relative Strenght Index), ADI (Average Directional Index) and Parabolic SAR (Stop and Reverse).  ATR is a volatility indicator. Volatility is a measure of the range of price actio…