2ndSkiesForex's Blog – March 2012 Archive (5)
7 Signs You Know Your Maturing As A Trader
Often times, we measure our success as a trader by our account value, whether it has grown, perhaps doubled in size, or whether we have lost and are under water. Unfortunately, this is really a myopic way of measuring our success in trading. If this was the true benchmark, then for my first 6 mos of trading, I must have been a rock star turning 3k into 83k. How did I do it? Over-leveraging to the hilt and having the most unbridled approach to the markets. If you measured success by my…
ContinueAdded by 2ndSkiesForex on March 27, 2012 at 12:09am — 26 Comments
Forex Trading Insights - Wait For Your Price
Last week I was busy traveling on business so missed it but am back now for my weekly forex trading insights.
Yesterday on my facebook page, I wrote about a short term bottoming formation in the NZDUSD as it was approaching a key support level. The traders in my price action course also noticed this setup and were looking for an entry as well. Below is the chart around the time I…
ContinueAdded by 2ndSkiesForex on March 23, 2012 at 4:14pm — 9 Comments
Pinbar Trading - Price Action Forex Trading with Pinbars
Today I am going to discuss trading the price action pattern called a Pinbar which is a fantastic technique for catching reversals, entering traps, and getting into trends. In this article, I will specifically talk about how you can use it for finding short term tops and bottoms, what it is communicating from a price action and order flow perspective, and one method for trading them.
The term was originally penned by Martin Pring calling it…
ContinueAdded by 2ndSkiesForex on March 19, 2012 at 2:53pm — 21 Comments
Forex Trading Insights Mar. 9th
This week I'm going to discuss something that has probably happened to many of you before and something that just happened to me a couple days ago.
The Two Trades
The NZDUSD had just dropped three days in a row, shedding 300pips in the process with each candle selling off fiercely and price breaking and close below the daily 20ema for the first time all year (actually since Dec. 2011). I blogged about this in my …
ContinueAdded by 2ndSkiesForex on March 9, 2012 at 11:09pm — 3 Comments
What Is Dynamic Support and Resistance?
Back in 2008 I started speaking about evolving or dynamic support and resistance, both in the Ichimoku Cloud and in using moving averages. I've been getting a lot of questions from my newer students lately about dynamic support and resistance so thought I would write an article about it here, what it represents and how you can use it in trading.
In essence, there really are two types of support and resistance levels (or…
ContinueAdded by 2ndSkiesForex on March 7, 2012 at 11:16pm — 5 Comments
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