Stuart McPhee, private trader, author and trading coach, explains how adopting a defensive mindset can lead to outstanding results.
Why do people trade? For most, their primary motivation is to make money. Sure, there are secondary reasons however they all stem from the undeniable urge to make money.
Hello Everyone,This week we look at the USDJPY chart to see a very simple, basic technique that can make a fortune in the markets if followed and understood by the trader.
So what is it that separates the successful from those who fail? If you ask anybody who has studied trading for any period of time, they will answer ???psychology??™. Essentially, your mental ability to manage losses and profits and the good and the bad times in trading, manage risk, to not become too greedy and many others are all encapsulated under the heading of ???trading psychology??™.
I attach daily and 30 minute charts of the above pair prepared subsequent to the market close on 8/11/06, together with the following comments. (more…)
It is our pleasure to introduce a new guest writer to our blog today, another Australian trader, author and teacher, Stuart McPhee. I recieved an email through a list I signed up to that had Stuarts website on it and I was thoroughly impressed by the content he is building and the ezines and articles he has on his site. The traders Journal available for subscription (trial copies free) is one of the best quality journals I have read for a longtime and I urge readers to try the test subscription on his site at www.trading-plan.com .
Welcome Stuart to the world of Metatrader Forex and we look forward to many more articles of the same quality you have presented in your first two here today.
I recieved this story in a email from Alan’s Australian Stocks review list which I thought was great and wanted to share it with you even though it is about a stock and not forex, it is a great story of the relevancy of Gann, enjoy and thanks Alan
Hello everyone, I wanted to share something with you that I found demonstrates the absolute conviction I hold that the work of W.D.Gann is not only relevant today, but also essential for anyone who wants to make serious money from trading liquid volatile markets.
Today, computers and trading software make it so easy to access information from almost anywhere. Never before have so many people had useful tools readily available to them at their fingertips. Stuart McPhee, private trader, author and trading coach, explains how many people focus on the wrong areas much to their detriment.
Unfortunately, many people who start trading find success difficult to achieve, certainly in the period of time immediately after starting. Stuart McPhee, private trader, author and trading coach, explains how traders can prepare their minds for top performance by preparing for the game.
Hi everyone, In this weeks article we look at USDCHF, and using the Fibonacci tool on an hourly chart we can see a favourite set up of mine that I simply call retest.