Posts Tagged by traders
RSI Range – Gain a Better Understanding of the Relative Strength Indicator
| April 11, 2009 | Posted by admin under Intro to Trading, Techncial Analysis Tutorials |
There are many ways to use the RSI with the most common methods being overbought and oversold levels and divergence with price. Today we are going to look at a third way to use the indicator – RSI range. RSI is an oscillator and commonly people believe that the RSI is only valuable when price…
8 Trading Rules
| March 1, 2009 | Posted by admin under Intro to Trading |
These are the 8 Rules of “Carney” from the book “Ugly Americans” by Ben Mezrich (published by Harper Perennial). They are pretty good so I thought I would reproduce them here. Check out the book, it isn’t too bad. Not as much trading material as I was hoping for but still an entertaining read. 1.…
A Good Reminder
| January 31, 2009 | Posted by admin under Intro to Trading, Techncial Analysis Tutorials |
The following is an article I found which is a good reminder to keep things simple. I generally just use price as an indicator, coupled with chart patterns (past prices). Although occasionally I refer to an RSI or price overlay for confirmation. Here is the article…. Trading Analysis Pitfalls by Ginny Fairham It is very…
How to Use the Free Forex Signals
| January 29, 2009 | Posted by admin under Day Trading Ideas |
-I definitely have short term day trader blood in me, this means I am looking for relatively quick gains. Thus the trades I look for are at levels where I expect movement to happen quickly in my favor. This sometimes has a slingshot effect in the opposite direction, especially at the market open. For this…
EUR/USD Signals
| January 29, 2009 | Posted by admin under Day Trading Ideas |
The Following are for the European session. The market is in an interesting spot here. So I am going to give two different trading signals. SELL between 1.3120-1.3130. Stop should be small, only 20 pips or so. First profit target 1.3040, then 1.2980 Alternative: SELL at 1.3174. Stop at 1.3130. Same Profit targets as above. …
EUR/USD signals
| January 28, 2009 | Posted by admin under Day Trading Ideas |
The following are signals for the European session and may run into the US session for January 28. Yesterday saw signals on both sides of the market fail as no definable trends developed. In the current short term range be cautious of taking large position until a trend has reemerged. BUY at 1.3271. Stop=1.3221. Profit…
Million Dollar Traders By Harvey Walsh
| January 27, 2009 | Posted by admin under Intro to Trading, Techncial Analysis Tutorials |
There’s a great show on British TV – Million Dollar Traders. There are two very important lessons that every trader must understand, that have been perfectly illustrated in this documentary, and I want to discuss those here. Any trader who doesn’t understand these lessons is doomed to fail, just as many of the traders in…
Stock Market Analysis – Tight Range
| January 27, 2009 | Posted by admin under Stock Market Analysis |
The Dow Jones average has slipped into a short term range, but the breakout could be significant – especially to the downside. Currently the Down Jones average is ranging between 7900 and 8300. While volume was edging higher to form a possible bottom in the market, volume has normalized and has fallen off the recent…
EUR/USD Free Forex Signals
| January 27, 2009 | Posted by admin under Day Trading Ideas |
The following signal can be used for the start of the European session but may lead into trades during the US session for January 27. BUY at 1.3245. Stop=1.3190. Profit Target=1.3345, 1.3400, 1.3450. SELL at 1.3189. Stop=1.3245. Profit Target=1.3155, 1.3115, 1.3030 Some trades like to pull in stops, others like to leave trades as is. …
EUR/USD signals
| January 26, 2009 | Posted by admin under Day Trading Ideas |
Buy at 1.2952. Stop=1.2912. Profit target=1.3020, 1.3060 OR Sell at 1.2911. Stop=1.2952. Profit target=1.2870, 1.2810 As soon as you are onside in the trade by 30-40 pips. Bring in your stop to breakeven. As the trades develop I will post updates in the “comments” for each signal. These comments will provide updates on where to…
Support and Resistance Tutorial
| January 22, 2009 | Posted by admin under Day Trading Ideas, Techncial Analysis Tutorials |
I start with these concepts because they need to be understood in order to use the day trading levels that I post each day. Support Levels are price points at which prices have had a hard time pushing down through in the past. In other words, a support level is a level where price stopped…
Day Trading for Thurs Jan.22
| January 22, 2009 | Posted by admin under Day Trading Ideas |
The SPY rallied back somewhat on Wednesday to close at 84.05, up 3.48. Here are the levels to watch on Thursday. Support Levels: 83.50, 82.85, 82.50, 82.10, 81.75, 81.15, 80.45 Resistance Levels: 84.25, 84.50, 84.75, 85.30, 85.55, 85.75, 86, 86.35, 86.50, 86.75, 87.50
EUR/USD Signals
These signals are for the European session. Please read the How to Use the Free Forex Signals post before using these signals. Sell at 1.2870. Stop 1.2920. Profit targets=1.2800, 1.2710