Find Trading Opportunities With Fibonacci

I do not intend to write a post to pitch EWI. But these guys are doing some great works in helping traders to learn and trade the markets. And a lot of the materials are, in fact, available free. A good example is the Ultimate Technical Analysis handbook. I would really recommend you have a read on that.

For the coming few days (now till 30th November 2009), EWI is giving away a ebook Find Trading Opportunities With Fibonacci. Here is the summary of the book, I think, it is worth checking out.
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Updated free trading courses

Marketclub has recently updates the free trading course, which I think it is worth checking out.
Here are the lessons that you get in your inbox
(1) The importance of psychology in price movement
(2) How to spot mega trends
(3) Understanding of technical price objectives
(4) How to picture price objectives
(5) How to trade with moving averages
(6) How to use point and figure trading techniques
(7) How to use the RSI indicator
(8) How to correctly use stochastics in your trading
(9) How to use the ADX indicator to capture trends
(10) How to capitalize on natural market cycles.
Plus, you will you will learn all about fibonacci retracements,MACD, Bollinger Bands and much more.
Check it out here http://www.tradergav.com/fmn

Marketclub has recently updated the free trading course, which I think it is worth checking out.

Here are the lessons that you’ll get in your inbox

(1) The importance of psychology in price movement

(2) How to spot mega trends

(3) Understanding of technical price objectives

(4) How to picture price objectives

(5) How to trade with moving averages

(6) How to use point and figure trading techniques

(7) How to use the RSI indicator

(8) How to correctly use stochastics in your trading

(9) How to use the ADX indicator to capture trends

(10) How to capitalize on natural market cycles.

Plus, you will you will learn all about fibonacci retracements,MACD, Bollinger Bands and much more.

Check it out here

Gary Vaynerchuk on Web2.0 Expo

This is an old clip taken last year. Some of you might have watched it. I thought it was cool, and motivational. Watch it again,it is time well spent for the weekend.

Trading Edge, Less is more

A couple of blog posts that I found it to be useful. Enjoy reading.

I am quoting this from Tremble Hand Trader.

you don’t need more stuff you just need to practise what you have. That the endless search for market knowledge is wasted time. You are better taking what you know and testing´┐Żand practising that to death. After you have the basics everything else is just another layer of wasted complexity. Whats required is working on your strengths – niche development.

Full post here

Sometimes, we just forget. Again and again we spent time readings books, blogs, forums to search for new strategies, new systems or the worst, new indicators. Focusing on what we’ve already known, practise repeatedly, enhance it and develop it to become our unique edge. I like the term, niche development.

Here is another post from TraderFeed

It could be argued that the mechanical accuracy of the trading method would be less important to long-term success than the trader’s ability to adapt to market shifts with risk management that takes maximum advantage of periods of valid signals and minimizes risk during periods of invalid ones.

Full post here

I fully agree with the importance of developing the ability to adapt to market shifts. Nothing is going to work forever, being able to see the change, and develop a plan to work in the current environment is the way to go.

Today’s Coffee thoughts

Again, I am sipping my daily morning Long Black..and I am going to share some thoughts here. NO..not about the bail out things. I don’t care. Market will go wherever it wanna go, do you really think the bail out package will turn the shitty market condition around? uhm…whatever…

Ok, my fiancee and I take Tram (One of the most crappy public transport in Australia, if not in the world..:lol: ) to work every morning. I noticed some interesting behaviours.

Everytime when you hopping into the Tram/Bus/Train/MRT..do you normally take the first available seat? or do you just keep walking towards the end of the carriage to look for the ‘BEST’ seat?

There are 3 types of people. 1, grab the first opportunity in front of him, grab the first available seat (Nah, I am not asking you to fight with the 70-year-old mama for that seat). 2. Keep walking , keep thinking of there’s a better seat at the end. 3. Just keep walking, just being blind of everything.

Type 2, and 3 normally will hit the end of the carriage, and realise, ‘there’s no more seat!’. While the type 1 might miss some ‘better seat’ though.

Nothing is absolutely right or wrong. But do these 3 types of passengers remind you of trader personality?  Which type of passenger are you?

Just another piece of rant before I finish my coffee..

Today’s coffee thought

A lady from Shanghai office was complaining to me. She has been working hard and save but, yet, still unable to buy a small apartment back in Shanghai, China. According to her ‘source of information’, there will be a second round of price hike, inflation after Beijing Olympic game.

I can’t solve the housing affordability problem for her.Her question to me was “which currency should I buy now” (what she meant was, which currency is worth buying now, she sees Chinese Yuan (CNY) is going to depreciate soon for some reasons). I did not have a quick solution for her. I first response was GOLD.

“But Gold is expensive now, how about USD?”
“Dollar is in trouble and weak, I am not into it, and there is no clear positive perspective of the American economy”
“But, it has been depreciating for so long, it should be bottomed now”
“……”

We read or hear this kinda conversation again and again. Inside our mind, we are afraid of high, and we like to bottom fish. How many times have we made our investment/trading decision based on the feel and fear of high?

Did you ‘feel’ Dollar was cheap a year a ago? Did you ‘feel’ GOLD was expensive a year ago?

Think……