The best Van Tharp's Quote!! Read all his books!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Van Tharp “When you understand what’s involved in winning, as do professional gamblers, you’ll tend to bet more during a winning streak and less during a losing streak. However, the average person does exactly the opposite: he or she bets more after a series of losses and less after a series of wins.”
Over the 18 years of trading the Futures/ Stocks and Currencies market, Van Tharp's books have help me immensely.
I suggest you read his books. Some of them are listed below;
Trade your way to financial freedom
Super Trader
Trading Beyond the Matrix
Safe Strategies for financial markets
Financial freedom through electronic day trading
I have a large collection of trading books. If anyone needs suggestions on great trading books i would be happy to send you a list :)
Freedom
Onward and Upward: Fibs Don't Fib Series, BTC In case anyone wonders what it's going to do, it's going to go up, and digest the big sale like it historically always has. Under 15k is not a bad time to buy right now for medium timeframe. If you saw my original Bitcoin Elliott Wave and acted on it and stayed patient, you are doing mighty well. Some thing with gold. Gold will be the next to have a big pop but btc will continue upward. The market is just getting heated up. Keep Hunting.
A good scenario for eur/usdThe price is close to a zone of resistance if the price is not able to break the 1.0847 area will be an execente to go short. short to 1.0363
If the price the price breaks the resistance that is located in the blue zone of 1.0847 the arrival price 1.1125 will be an excellent long trade.
CADJPY Short#CADJPY the lower highs indicate that this pair is going through a down trend. The EMA is a major confluence with regards to downside movement as the 7 EMA below the 50 EMA indicate that the market is in a long term downtrend, this is followed by the 3 EMA being below the 7 EMA which indicates that the market is in a short term downtrend. The short long term down trend followed by the short term down trend means that the probability of downside movement increases!
This pair has also gone through a small phase of trending sideways (ranging market). Now this pair is approaching key levels as it has broken the support zone and has broken out of trending sideways. The daily candle being an 'up day' shows that price has had a chance to pull back, giving traders a great chance to get in the downside movement. A break of 79.2 is the target.
EUR/USD Long Break OutIt appears my plan with EURUSD is going accordingly. I love finding and then trading wedge pattern breakouts. Most of the time they are black and white.
In my last post I shed some light on the forming wedge. I actually took a short position off the trend line bounce (a risky one to say the least) and it worked out well for me. I caught a good portion of the move down. Now I firmly believe she is going to bounce off support of 1.0810 area and break out long.
Wait for the break out and retest and remember risk management.
EU bullishWell after Usd hike rate there was a small bearish movement, i think this will go to area 0780 - 0795 after big news on monday for USD or tuesday.. And then we will see a nice uptrend at least to end of this year.. Then maybe some correction. But for greedy people area 1490 is good for TP... For me i close at the end of year or near to 1200 level..