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Simplicity Is The Best Policy For Your Trading

“It looks a bit full but it’s going to work,” he thought as his limit order was being placed on the YM E-mini 5 minute chart. There was not much space for the chart to be exhibited, though, as there was a MACD indicator, an RSI, a Stochastic, an ATR and a Bollinger Band® prominently displayed. John liked to ensure that he had

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USDCHF: Bearish, Eyes Further Downside Pressure

USDCHF: The pair looks to weaken further lower having declined the past week. On the downside, support lies at the 0.9850 level. A turn below here will open the door for more weakness towards the 0.9800 level and then the 0.9750 level. On the upside, resistance resides at the 0.9950 level where a break will clear the way for more strength to occur

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AUDUSD: Retains Downside Pressure, Extends Weakness

AUDUSD. The pair continues to hold on to its downside pressure weakening further on Friday. On the downside, support resides at the 0.7500 level where a breach will aim at the 0.7450 level. Below that level will set the stage for a run at the 0.7400 level with a cut through here targeting further downside pressure towards the 0.7350 level. On the upside,

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How To Develop The Habits To Drive Your Trading Success

Has this happened to you as it did to Harvey? His eyes were at half-mast as he could barely focus on the chart staring back at him from the computer screen. He felt very tired like he had weights on his arms, and his mind was foggy. But, what was quite clear is that he had lost again. Harvey’s anger began to rise

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EURUSD Caps Bull Pressure, Weakens On Pullback

EURUSD: With the pair backing off higher prices ton close flat on rejection candle on Wednesday, further decline is envisaged. Resistance comes in at 1.1800 level with a cut through here opening the door for more upside towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. Its daily RSI is bullish and

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How To Withstand The Tough Times To Be A Successful Trader

I just finished teaching a class on the importance of documenting your trading. It was called “Awareness and Reprogramming.” One of the students complained that documenting was something that they did not enjoy and that it was therefore difficult to follow-through with. Actually, most endeavors that are of value involve tasks that are not in and of themselves enjoyable. But they must be

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GOLD: Bullish, Sets Up For More Recovery Higher

GOLD: The commodity now eyes further bull pressure after following though higher during early Wednesday trading today. On the downside, support comes in at the 1,280.00 level where a break will turn attention to the 1,270.00 level. Further down, a cut through here will open the door for a move lower towards the 1,260.00 level. Below here if seen could trigger further downside

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How Your Language Defines Your Trading Reality

How do you describe your trading process? What are your biases and beliefs about trading and about yourself, and how do you express them? Actually, language and how you use it defines your reality; it can make your reality positive or negative, promising or apocryphal. “Hold on,” you might say, “Reality is what it is and will not change based upon what you

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