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Weekly Trading Forecasts on Major Pairs (December 26 - 30, 2016) [b][/b]

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair trended downwards on Monday and Tuesday, and then began to make some bullish attempt, all in the context of a downtrend. A strong movement is not anticipated this week (although it is a possibility), for the market may not do more than it did last week. No matter what happens, there is not going to be an end to the current bearish outlook this year. In fact, price may test the support lines at 1.0400 and 1.0350.

USDCHF
Dominant bias: Bullish
USDCH merely zigzagged throughout last week, with no directional movement. The overall bias is bullish, and thus, when momentum returns to the market, it may be in favor of the bias. Just like EURUSD, strong movement is not expected this week (but it can happen). There are resistance levels at 1.0300 and 1.0350. As long as price does to go below the psychological level at 1.0000, the outlook on the market would remain bullish.

GBPUSD
Dominant bias: Bearish
GBPUSD dropped 250 pips last week, giving more and more emphasis on current weakness in the market. Price closed below the distribution territory at 1.2300 on Friday, targeting the accumulation territories at 1.2250, 1.2200 and 1.2150. There are huge Bearish Confirmation Patterns in the daily and 4-hour charts, which make long trades illogical at the present. A very strong bearish movement may be witnessed on GBPUSD before the end of the year.

USDJPY
Dominant bias: Bullish
The market consolidated throughout last week. The major bias is bullish, and that is supposed to continue till the end of this year. There may be a rise in momentum, which may push price towards the supply levels at 117.50, 118.00, and 118.50. These supply levels were previously tested this month, and they could be tested again. Only a movement of about 200 pips to the south could threaten the current bias.

EURJPY
Dominant bias: Bullish
This currency instrument trended downwards on Monday and then moved sideways till the end of the week, closing at 122.515 on Friday. There would soon be a directional movement in the market, but right now, it is better to stay away until that happens (unless scalping is being done in the market). A movement below the demand zone at 120.50 would end the bullish bias, while a movement above the supply zones at 123.50 and 124.00 would strengthen it.

This forecast is concluded with the quote below:

“[In trading] I choose joy over disappointment and contentment rather than instant gratification.” - D. R. Barton, Jr.

Source: www.tallinex.com

She's truly a superstar!

Another food for thought. Some graduates have gone for useless courses and they're now regretting it.

Weekly Trading Forecasts on Major Pairs (December 19 - 23, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
EURUSD trended downwards last week, just as it was expected. Price moved sideways from Monday till Wednesday, when it started dropping further downwards. The support line at 1.0400 was tested, and although price closed above it, it would be tested again. The outlook on EURUSD is bearish for this week. So we may see further bearish movements which may enable price to break the support lines at 1.0400, 1.0350 and 1.0300 to the downside. Eventually, EUR might reach parity with USD.

USDCHF
Dominant bias: Bullish
In exact opposite manner to EURUSD, this market underwent a shallow bearish retracement within December 12 and 14. Price went up significantly on December 14, moving briefly above the resistance level at 1.0300, and later closing below it. USDCHF would continue to make rally attempts, though it would come across some challenges this week. While bearish corrections could be contained around the support levels of 1.0050 and 1.0000, the resistance levels at 1.0300 and 1.0400 would be the targets for this week.

GBPUSD
Dominant bias: Bearish
This market consolidated on Monday and Tuesday, to drop southward on Wednesday, according to forecast last week, in the context of a downtrend. The accumulation territory at 1.2400 has been tested again and again, but there is a considerable amount of opposition to the bearish movement, around the accumulation territory. Price would go below it this week, owing to the fact that the bias on GBPUSD (as well as some GBP pairs), remains bearish for this week and for the rest of this month. Price would still go downwards by a minimum of 300 pips before the end of this year.

USDJPY
Dominant bias: Bullish
According to last week analysis, this trading instrument went upwards 300 pips last week, after moving sideways on Monday and Tuesday. Since November 9, price has trended northwards more than 1700 pips; and the northward movement could continue this week. There is Bullish Confirmation Pattern in the market and the supply levels at 118.50 and 119.00 may be tested this week. As from now on, the movements on JPY pairs would be determined by strength of individual currency, not the weakness in Yen. This means USDJPY could rally further while GBPJPY could plummet.

EURJPY
Dominant bias: Bullish
There are going to be serious movements in the JPY markets this week (while next week would be quiet), and EURJPY would not be an exception. This is a bull market, and while there may be occasional pauses and consolidation along the way, there could be further bullish movement. However, the ongoing weakness in EUR could scuttle this expectation. As long as price does not cross the demand zone at 121.00 to the downside, the bullish bias would hold.

This forecast is concluded with the quote below:

“In order to taste success in the trading market, you'll need to develop really simple strategies. You're likely to take trading decisions in a more confident way, remain headstrong and gain more winning opportunities when you follow some really simple strategies.” - Sean Lee

Source: www.tallinex.com

The best traders in the world – what they have in common

“It’s Monday morning. You are warm and toasty in your bed, hearing the world around you wake up. You allow yourself a little sleep in, and then pull open the curtains. Your swimming pool is shimmering in the sun light, and your outdoor lounge beckons. After a satisfying breakfast, the markets open, and you casually look to see how your trades are doing. Then you settle back on the lounge and plan out your day. On your terms. Answering to no-one but yourself. Safe and confident in the knowledge that your trades are working for you... This could be your future.” – Louise Bedford (Source: Tradinggame.com.au)

In April 2016, I wrote about 3 best traders I’ve even seen. These brilliant trades aren’t stars in the world of trading, but they beat the so-called stars. Their outperformance is huge!

I promised to give you an update on the result and identities of these mad geniuses. They’re really exceptional in that they even participated in another private contests, which consisted of 100 profitable traders, and they came out on top again. This happened in spite of the fact that the market conditions during the first contest was completely different than the market conditions during the second contest. So they have strategies that can survive all market conditions. I’m very happy for them.

For a reminder, these are the details of their recent performances:

The contestant who came first turned 2,500 USD into 1,433,480 USD (57,239.20%).
The contestant who came second turned 2,500 USD into 741,365 USD (29,554.60%).
The contestant who came third turned 2,500 USD into 713,076 USD (28,423.04%).

The top three traders are Andris D, a Latvian; Bogdan D, an American; and LD N, also an American. This is no surprise, Americans are among the most effective traders on this planet.

WHAT THE BEST TRADERS HAVE IN COMMON
These traders were interviewed, as well as other profitable traders. I read the interviews myself and would like to give you tips on what they’ve in common.

They were gainfully employed before they became traders
They even kept their day jobs after becoming traders. One is a soccer player. One is an electrical engineer, while one is a former submariner and currently a wealth manager in a trading firm. Being gainfully employed before one becomes a trader will help one’s psychology, contrary to the impatient and risky tendency of a jobless trader.

It’s good to become a trader while you’re earning a steady source of income, not when you’re jobless and destitute. Those who’ve sources of income find it easier to speculate with monies they can afford to lose. They can also make rational trading decisions because their existence isn’t dependent on a single trading capital. This goes in a sharp contrast to someone who must make profits in the markets or go hungry.

When you talk about trading in the hearing of those who’ve good jobs, they’ll reply that they aren’t interested. However, when they lose their jobs, they come to trading as the last resort. This is the worst time to become traders. It’s far better to become traders when you’re comfortable, and when you become consistently profitable, you can then go solo as a trader, if you think that’s viable.

They’ve years of trading experience before reaching profitability
One has 6 years of experience. One has 5 years of experience; while another has 10 years of experience. This means they’d been playing the markets for long, before they got to the stage in which they can pull out profits consistently.

Let me tell you a fact. It’ll take you years to master the markets personally. Anyone who tells you otherwise is fooling you. Even if you buy a good trading system, you’ll need some experience to use it successfully. The way an experienced trader applies a trading system is different from the way a rookie uses a trading system.

Don’t think you’ll come to trading and start making consistent profits right away. It’ll take you some years to do that.

They go into trading to make money
This is why we become traders: We want to make money. The major reason these geniuses become traders is to make money, and they craved profits badly enough. They wanted better living standards. They wanted financial freedom. They were aware that trading brings wonderful opportunities.

But you don’t make money because you want money. You make money because you’re persistent, perseverant, diligent, and patient. You need to crave success badly enough.

They use manual and automated strategies
Manual strategies are good. Automated strategies are good. There is a genius who made huge money based on manual trading only. There is a genius who made huge gains based on automated strategies only. As long as you control your risk, stick to your rules and approach trading rationally, you would be victorious.

They’ve vowed never to quit trading
Whether the going is good or bad, these exceptional traders look forward to trading forever (until they drop dead). Unlike undisciplined traders who threaten to quit when they face drawdowns and promise to continue when they see positivity, these profitable traders have decided to continue trading, come rain or shine.

Would you keep on being a trader, moving forward in your journey to success? Or would you stop being a trader because of the current roadblocks? Would you give what it takes to ensure that you reach consistent profitability?

May you be given the wisdom to make decisions that would make it possible for you to be a testimony to others in future?

Conclusion: Maximiliano Lepez’s college professor once told him he was foolish for thinking he could beat the markets. That statement was enough to discourage many people from trading, or who would not take a word of a college professor seriously? But Maximiliano didn’t allow himself to be discouraged. He went to the battlefield of the financial markets and became a proficient trader, using algorithmic strategies. He’s the last laugh.

This article is ended by the quote below:

“It’s a matter of finding an approach that works for the individual. A person has to know whether they are comfortable with fundamental or technical, long term or short term, certain types of markets, wider risk or less risk… You can go through a whole checklist of things and find it’s different for each individual.” - Jack Schwager

Source: www.tallinex.com

Weekly Trading Forecasts on Major Pairs (December 12 – 16, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair made some bullish attempt in the first few days of last week. Price rallied 300 pips, testing the resistance line at 1.0850, before it began a serious bearish movement. The bullish gains that were initially made last week, were eventually lost as price plummeted, to close just above the support line at 1.0550, after testing it. The market outlook is bearish for this week, since EUR is expected to continue its weakness while USD would continue gathering stamina. There is a possibility that EUR would reach parity with USD in a foreseeable future.

USDCHF
Dominant bias: Bullish
Last week, USD/CHF moved sideways from Monday till Wednesday, and then started moving upwards on Thursday, in conjunction with the extant bullish bias. Price tested the resistance level at 1.0200, and later closed below it. The outlook on the market is bullish for this week; price could reach the resistance levels at 1.0250 and 1.0300. However, it would also be seen that CHF is rallying versus some major currencies, which may prove to be a challenge for the bullishness of USDCHF.

GBPUSD
Dominant bias: Bearish
Cable went upwards on Monday and Tuesday, reached the distribution territory at 1.2750. Price attempted to stay above that distribution territory, but the attempt was rejected as a southwards movement began, which eventually posed a threat to any bullish signal in the market. Price would move further southwards this week, going below one accumulation territory after the other. The outlook on GBP pairs is bearish for the week.

USDJPY
Dominant bias: Bullish
USD/JPY consolidated from December 5 to 7, and the rallied on December 8 and 9 (though the consolidation started earlier than that). Since the low of November 9, the market has gone up by 1400 pips, and this would continue. As it was forecast every week in the last three weeks, the outlook on this market, and as well as other JPY pairs, remains bullish. The supply levels at 115.50, 116.00 and 116.50 could be reached this week.


EURJPY
Dominant bias: Bullish
There is a conspicuous Bullish Confirmation Pattern on this trading instrument, albeit it is currently volatile. Price has recently swung up and down in the context of an uptrend, but the overall movement would be bullish. The targets for the week are supply zones at 122.00, 122.50 and 123.00, which were all tested last week. The major reason why price is generally bullish here is because there is a serious weakness in Yen, and as long as the weakness continues, EUR (which is weak on its own), would manage to keep on going upwards against it.

This forecast is concluded with the quote below:
“Trading and markets have been a major part of my life for almost 60 years. Trading has been the means through which my family and I have received many blessings.” – Joe Ross


Source: www.tallinex.com

Na true talk jare.

Crispin Odey: He Trades What He Sees

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 22

“It never ceases to amaze me the impact that controlling your losses has on your performance.” – Chris Tate

Name: Crispin Odey
Date of birth: January 31, 1959
Nationality: British
Website: Odey.com

A QUALIFIED LAWYER BECOMES A TRADER
Crispin was born in east Yorkshire and educated at Harrow School. His dad had been a head boy at that school.

Crispin went to Oxford and got a degree in history and economics, after which he qualified as a lawyer. But instead of practicing law, he joined Framlington fund managers. He also worked at Baring, managing the Baring European Growth Trust.

He founded Odey Asset Management in 1991, a London-based hedge fund. He’s now a partner at the firm, which has about $9.3 billion under management, and Odey personally running $4 billion of assets. George Soros was one of the original seed investors of the firm, investing $150 million in it.

Crisping has been successful overall, but there were times he was wrong, like the year 1994, when he suffered a considerable amount of loss on his funds. Nevertheless, he thrived, like the year 2001, for he foresaw that the value of insurers would rise after the September 11 attacks on New York.

He once worked closely with Hugh Hendry, thus the quip, “Odey in the 1990s was a one-man band; Odey in the 2000s was a two-man band.” In 2008, he made lots of money from bear markets of the year, growing by 54.8% and paying himself 28 million GBP. He’d shorted some banks, getting called a “Big Business Shot.”

Whenever he lost some money, he lost some investors and his net worth declined. Whenever he made some money, he gained some investors and his net worth increased.

Trading is a lifelong career.

As of 2015, Crispin was worth £1.1 billion GBP, jointly with wife. He’s married to Nichola Pease. He lives in Chelsea, London and has a house in English Bicknor.

What You Need to Know:
1. Crispin’s multi-billion hedge fund has world leading investors and has an exceptional performance record across their conventional and hedge fund portfolios. You've got to look at assumptions behind markets long before you look at markets.

2. To be a successful long term investor you must think like an owner - know when to take risk and when to preserve capital, according to Crispin. You need to preserve your capital and generate superior returns eventually.

3. Losses are great teachers. A loss may wipe you out. Another loss would teach you how to survive and another loss would bring you profits and enjoyment.

4. Your qualifications don’t matter much when it comes to being a great trader. When it comes to speculation, History degree is far more useful than a CFA [Chartered Financial Analyst].

5. When you got great talent and skills and flexibility, you’ve control over your life. You may be under a boss, but eventually you may need to stand out on your own. Crispin broke away from Barings to found his own business at time when some felt that the private client side was playing second fiddle to the institutional business. Anyone with creativity had to operate outside the system.

6. Good traders have a knack for finding setups that would do well in spite of the vagaries of the markets. These markets are very hard to read, but some instruments would give you clear signals and you have to trade with confidence.

7. “Investment styles need to adapt as opportunities change. Living in investment denial must be avoided - if an investment is not working, we won't wait until it does,” says Crispin.

8. Good traders and investors are pretty good at making money; plus don't take too much out, either.

9. Other business also have their risks. Many people suffer in other areas of human endeavors. Crispin’s dad made money as an entrepreneur and then lost it because he broke his own rules. You’ll need to take your time to make money, thinking like the opulent. Don’t look for quick riches.

10. Genius traders fall and rise up again. A good trader may suffer a temporary loss, loss of revenues and loss of investors. Nonetheless, they would eventually grow, grow revenues and gain new investors.

11. You don’t know when a downtrend or an uptrend would end. Those who chase the market lose money, and those who get chased by the market make money. You need to stay ahead of the market.

This article is ended with a quote from Crispin:

“What we do is work very hard not to lose money. We don't live with hope in the portfolio; we live with fear. Our view of the market now is: Take care of the downside, and let the upside take care of itself.”



Source: www.tallinex.com

Super Trading Strategies: http://www.advfnbooks.com/books/supertradingstrategies/index.html

Monthly Technical Reviews on Gold, Silver and Bitcoin (December 2016)

GOLD (XAUUSD)
Dominant Bias: Bearish
Gold trended downwards throughout last November, dropping over 16,000 pips from the high of 1336.98 on November 9. The overall bias is bearish, and therefore, the bearish movement is supposed to continue till the end of the year. Right now, price is consolidating, and that is what it has done so far this week. A rise in momentum is expected this week or next, which would most probably favor the current bearish outlook in the market. Even rallies would be transitory and could be shorted, since price could reach the demand levels at 1150.00, 1140.00 and 1130.00 within the next few weeks.

SILVER (XAGUSD)
Dominant: Bearish
Silver trended downwards last month, and it has consolidated to far this month. There is a strong Bearish Confirmation Patterns in 4-hour and daily charts; so the current consolidation is merely a pause in the trend, for it is supposed to resume any time this month. Silver would not be able to rally significantly and hold it out long, until Gold is able to that. Price is now trading below the supply zone at 17.0000, and it would be going towards the demand zones at 16.0000, 15.0000 and 14.0000 within the next several weeks. Bullish attempts ought to be fleeting and should be disregarded.

BITCOIN (BTCUSD)
Dominant Bias: Bullish
Bitcoin is in a big uptrend, which started early October 2016 (following the equilibrium phase that was witnessed in August and September). Since October, price has gone upwards by more than 16,000 pips, topping at 773.00, before it eased a bit. The northward journey would continue till the end of this year, going into next year, as price targets the distribution territories at 800.00, 850.00 and 900.00. Possibilities of pullbacks are present along the way, but these should be recovered quickly or gradually as price resumes its long-term bullish journey.

Source: www.tallinex.com

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Weekly Trading Forecasts on Major Pairs (November 28 – December 2, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
Last week, this pair moved largely sideways in the context of a downtrend. A break out of the sideways movement should happen before the end of this week (or next week), which would most probably favor bears. Although this pair is expected to continue its bearishness, especially in December, some bullish effort would take place, which may enable price to go upwards by 200 pips or more, before seeing another bearish correction, eventually. Time would tell whether EUR would reach parity with USD.

USDCHF
Dominant bias: Bullish
Just like EURUSD, USDCHF also consolidated throughout last week, in a context of an uptrend. A breakout should happen before the end of this week, ending the current consolidation. Price is supposed to target the resistance levels at 1.0200 and 1.0300. On the other hand, bullish effort on the part of EURUSD might force USDCHF to retrace temporally southwards, towards the support levels at 1.0100 and 1.0000.

GBPUSD
Dominant bias: Neutral
GBPUSD went flat throughout last week. The flat movement started about two weeks ago and it has resulted in a neutral bias in the near-term, while the major trend in the market remains bearish. A rise in momentum is expected this week, which would most probably favor the dominant bearish trend. The outlook on GBP pairs is bearish for this week, and thus, further southwards movement is expected on GBPUSD.

USDJPY
Dominant bias: Bullish
USDJPY is currently one of the strongest moving currency pairs. Price went upwards 310 pips this week, topping at 113.89, before getting corrected a bit lower on Friday. Since November 9, price has gone upwards by over 1200 pips; plus the outlook on the market is bullish for this week, again (the outlook is also bullish on other JPY pairs). Therefore, occasional pauses and corrections are supposed to be transitory this week, as price goes further north.

EURJPY
Dominant bias: Bullish
This is also a bull market – owing to the strong Bullish Confirmation Pattern present in it. Price went north 250 pips last week, after consolidating on Monday and Tuesday. The supply zone at 120.00 has been tested, and it might be broken to the upside this week, owing to the ongoing buying pressure in the market, brought about by persistent weakness in Yen. After the supply zone at 120.00 is overcome, the next targets would be the supply zones at 130.00 and 140.00.

This forecast is concluded with the quote below:

“Trading and markets have been a major part of my life for almost 60 years. Trading has been the means through which my family and I have received many blessings.” – Joe Ross

Source: www.tallinex.com

Would Thanksgiving Rally Happen This Year?

Would Thanksgiving Rally Happen This Year?
GOLD (XAUUSD) is currently weak, owing to another phase of a southward movement, which started a few months ago. The downtrend has been particularly strong since October. This week would be interesting because of a possibility of a Thanksgiving rally. Would it ever happen this year?

Thanksgiving rally has not taken place since last few years, though it occurred every year before then, with stunning accuracy. In case it would happen, it should be during the week in which Thanksgiving is observed. If it would ever happen this year, then it should be this week.

Historical data shows that this kind of rally usually occurred in the years when the long-term trend was bullish. For example, Gold was predominantly bullish from 2002 to 2012 (save the conspicuous correction that took place in 2008, although Thanksgiving rally did take place in that year also). Since 2012, the market has been predominantly bearish, till now, and that explains one of the reasons this rally has not taken place in the last few years.

It should be borne in mind that a market can decline while trend is predominantly bullish. On the other hand, a rally can take place while trend is predominantly bearish; which means that a Thanksgiving rally could take place in spite of the current bearish outlook, and it may not take place at all.

This phenomenon may keep appearing occasionally in the years to come, or it may disappear altogether. Whatever the case may be, skilled speculators have always thrived by trading what they see.

Monthly Technical Reviews on Silver and Bitcoin
SILVER (XAGUSD) is also in a bearish trend. It plunged in the first few days of October, and moved sideways till the end of the month. Silver underwent another strong bearish run on November 11, forming a strong Bearish Confirmation Pattern in the market. This means price may continue journeying downwards, and probably reaching the support levels at 15.0000, 14.0000 and 13.0000 before the end of this year. On the other hand, a serious rally on Gold would trigger a rally on Silver.

BITCOIN (BTCUSD) is in an uptrend and there is a bullish bias on it. The current bullish trend started in October, following the sideways movement that was experienced in September. The market is quite choppy, but the uptrend is expected to continue till the end of this year. Therefore, price could reach the distribution territories at 750.00, 760.00 and 770.00 within the next few months, since buying pressure is supposed to continue. As usual, occasional pauses and transitory corrections would be witnessed here, but the overall movement would be bullish.

Source: www.tallinex.com

It's like many of you missed the op's points. They don't deny Osupa's talent, success, star and income - only that he shouldn't think of himself more than he's really and actually is.

Is the woman even sure that the girls belong to those lovers outside? They don't even know they got kids by her, and she shouldn't do anything that would destroy her marriage.

Thanks for this article. I like it.

Weekly Trading Forecasts on Major Pairs (October 21 - 25, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair went downwards last week, going below the resistance lines at 1.0650 and 1.0600. Since November 9, price has come down more than 700 pips, leading to a very strong bearish bias on the market. There is a possibility of further downwards movement, which could enable price to reach for the support lines at 1.0550, 1.0500 and 1.0450. This expectation would hold only as long as USD does not showcase any noticeable weakness.

USDCHF
Dominant bias: Bullish
USDCHF moved upwards by 215 last week. Price managed to go above the psychological level at 1.0000, now at the resistance level of 1.0100. Price has gone upwards reluctantly so far, and there is a possibility that it would make further bullish effort this week. There is another potential target at the resistance level of 1.0200, but the further the market goes upwards, the higher the chances of a large pullback. The bullish bias would hold as long as USD does not lose stamina.

GBPUSD
Dominant bias: Bearish
GBPUSD underwent a vivid bearish correction throughout last week – an action that has resulted in a bearish signal in the short and long terms. Long trades are currently not prudent in this market, unless price action reveals that things are conspicuously bullish. Right now, the market is in a downtrend, and only short trades should be sought. Rallies would offer opportunities to go short at better prices.

USDJPY
Dominant bias: Bullish
There is a strong Bullish Confirmation Pattern on USD/JPY. Since the low of November 9, the pair has shot skywards by over 960 pips. Apparently, this is one of the strongest directional movement in recent months, and the supply levels at 111.00, 111.50 and 112.00 could be attained this week. The outlook on JPY pairs remains bullish for this week (just as bullish movements were forecast for most JPY pairs last week).

EURJPY
Dominant bias: Bullish
This cross also went bullish last week, fuelled by the buying pressure in the market, and as a result of weakness in Yen. Because Yen is so weak that, even weak currencies like EUR and GBP could manage to rally versus it. In case a currency is strong in its own right, just like the case of USD, the rally against Yen would be strong and fast indeed. As long as Yen does not become strong conspicuously, the northward movement on EURJPY would continue. The supply zones at 118.00 and 118.50 are being watched this week.

This forecast is concluded with the quote below:

“YOU are the biggest factor in your trading success…” – Dr. Van. Tharp

Source: www.tallinex.com

Winning Strategy for Short-term Trends (Leaked)

Trading For Sure Profits
Rule-based discretionary traders are among the best traders on this planet. The trading strategy explained here is a rule-based discretionary system. Similarly, the fact that the majority of traders fail does not mean that trading is a dead end activity. Traders who are successful prove otherwise. Occasional losses leading to transient drawdowns are inevitable but not insurmountable challenges in trading.

The secret to success lies in developing a deep love for trading and a willingness to apply trading principles that work. Trading principles that work are non-market specific. For a strategy to survive all market conditions, it must have three ingredients incorporated into it: aborting losers and capitalizing on winners, very low risk, and rock-solid discipline.

These are the secrets of trading masters – trading success has nothing to do with your ability to predict the markets accurately. If you give yourself a sensible reward-to-risk ratio, you will survive the markets in the long run. For instance, it does not make sense to risk $20 in an effort to gain $2. These secrets are what make the difference between financial freedom and financial disaster – the difference between solvency and bankruptcy.

The Pedigree of a Good Strategy
It is very disturbing that so many traders find it difficult to survive on the markets. Many top market speculators are perplexed by a new generation of traders who do not seem to have a clue about the skills necessary to preserve their trading portfolios.

The issue is: even if you are disciplined, it would be difficult for you to survive with a worse expectancy system, i.e. a system whose risk is greater than the reward. And checking complex data ad infinitum is not so sensible for simple markets either. Good trading strategies are the ones that survive all market conditions.

This kind of strategy must be effective in sustaining minimal drawdowns when the market conditions are not favorable – while making a decent profit during favorable market conditions. Whether a strategy is trend-following or countertrend or scalping, it will survive all market conditions provided that those simple but effective principles are incorporated into it. The markets eventually reward those who show an earnest quest for trading mastery.

Winning Strategy for Short-term Trends: https://learn.tradimo.com/a-sure-fire-forex-strategy

Breakdown of the Strategy
Timeframe:
Trading style:
Indicators parameters:
Buy rule:
Sell Rule:
Position sizing:
Stop loss:
Take profit:
Trailing stop:
Risk per trade:
Potential reward per trade:
Max. weekly drawdown:
Safety rule:
Filter rule:
Instruments names:
Average orders per week:
Orders type:
Signals generation periods:

Winning Strategy for Short-term Trends: https://learn.tradimo.com/a-sure-fire-forex-strategy

www.tallinex.com wants you to be a successful trader

SoNature:
Wonderful piece! But then remember you must know how much you are willing to pay before throwing up all these questions at applicants.

If as I have a job, you call for interviews and during the section I feel you are asking me plenty of questions to use my answers solve a problem in your company, I will just walk away. Really? Yes, really!

The thing is, sometimes, employers advertise for positions which do not exist hoping to drain applicants' ideas and use them drive their companies. I am not making this up, I know companies that do that!

Once again, great piece I must say...

What a great reply and insight.

I was often a victim of these scoundrels called prospective employers. They would use you, discuss with you often and often to tap your ideas and knowledge, you would work free and offer free consultancy, with the hope of getting employed eventually.

However, you would end up not employed and you would receive no compensation whatever.

Nemesis would catch up with these scoundrels.

Weekly Trading Forecasts on Major Pairs (October 14 - 18, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair started a bearish movement on Monday, which was briefly interrupted by a massive rally, caused by the U.S. presidential elections results. Price rallied 280 pips on Wednesday and started coming down that day, forming a Bearish Confirmation Pattern in the market. The support line at 1.0850 is almost being breached to the downside. While the support lines at 1.0850 and 1.0800 could be breached this week, there is also a possibility of rallies in the market (especially when USDCHF pulls back again).

USDCHF
Dominant bias: Bullish
USDCHF moved sideways on Monday and Tuesday, and plunged seriously on Wednesday, November 9. The bearish plunge was quickly recovered as price rallied massively 290 pips that day, from a low of 0.9549, leading to a bullish signal in the market. Price could now target the resistance level at 0.9900, 0.9950 and lastly, 1.0000. However, a great challenge remains at the resistance level at 1.0000, which is a psychological level. In case price is unable to go above that psychological level, there could be a clear bearish correction.

GBPUSD
Dominant bias: Bullish
Cable remains bullish in the near term, and bearish in the long term. The market is quite choppy, having consolidated from Monday to Thursday (in the context of a near-term uptrend), and then going upwards vividly on Friday. Further upward movement is anticipated this week, as the bias on the market remain bullish. The distribution territories at 1.2650, 1.2700 and 1.2750 may be targeted this week. The distribution territory at 1.2650 was tested last week, and it could be tested again, and a northward movement of 500 pips more, would cause a bullish signal in the daily chart also.

USDJPY
Dominant bias: Bullish
As it was forecast last week, JPY pairs really made bullish attempts. The bullish journey started on Monday and it was briefly interrupted on Wednesday as there were temporary massive sell-offs on USDJPY. Price plunged by roughly 400 pips on Wednesday and rallied on the same day, plus Thursday, and consolidated on Friday. The market is currently above demand levels at 106.00 and 106.50, targeting the supply levels at 107.00, 107.50 and 108.00 this week. The outlook on most JPY pairs remains bullish for this week (with possible exceptions of AUDJPY and NZDJPY).

EURJPY
Dominant bias: Bullish
The movement on this currency trading instrument was not as strong as that of USDJPY. The market is quite choppy while the outlook on it remains bullish. Should EUR gather some stamina this week, there could be more predictable bullish movement. Initial targets on the upside are the supply zones at 116.50 and 117.00. For price to go above these targets, persistent buying pressure is needed.

This forecast is concluded with the quote below:

“Take every trade that the system generates because you do not know where the returns are going to be generated.” – Chris Tate

Source: www.tallinex.com

Bill Dunn: 40 Years of Trading and Still Making New Highs

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 21

“Trading shares many similarities with another past-time I enjoy: strategy games. I love playing chess, and I think trading and chess require a similar set of characteristics to do well — they require that you act thoughtfully, never impulsively.” - Ron Kapar

Name: Bill Dunn
Nationality: American
Occupation: Trader and portfolios manager
Website: Dunncapital.com

NO HESITATION FOR HOME RUN
Bill spent his childhood in Kansas City and Southern California. He served 3 years with the U.S. Marine Corps. He got his Bachelor’s Degree in Engineering Physics from the University of Kansas in 1960. Then he obtained a Doctorate in Theoretical Physics from Northwestern University.

In the following 2 years, he was a researcher in faculty positions at University of California and Pomona College. He also worked in logistics and operational systems in other areas.

In 1974, Bill founded DUNN Capital Management, a Commodity Trading Advisor (CTA) with a long, rich history of experience and performance. Dunncapital.com states that, with 19 partners contributing a combined $137,000, Dr. Bill officially launched his finance career, trading client money in his 100% systematic managed futures strategy. When a trading opportunity presented itself, it was all or nothing, never hesitating to swing for the home run. He traded only 11 markets at that time, being in an uncharted territory at the time and breaking new ground in an undeveloped alternative asset class.

The firm has a track record that spans over 30 years and has produced a compounded annual rate of return of 14.2% per annum, after all fees and expenses. Their staff are highly experienced and well-educated.

Bill Dunn is now the Chairman Emeritus of DUNN. In January 2010, a business succession plan was put into place that gave Martin H. Bergin partial ownership of the firm. In August 2015, Mr. Bergin became the sole owner of DUNN. This means is Mr. Bergin currently the President and Owner of DUNN.


What You Need to Know:
1. Bill Dunn is a trend follower. He trades what he sees. The benefit of doing this is clear in his track record.

2. Sometimes, he made great profits. Sometimes, he suffered some drawdowns. Such is trading. No matter the level of volatility in his portfolios, he never deviated from his main methodology.

3. For Bill, the markets are his real world. He started just like any one of you. He came across a newsletter while still young, and he was hooked. The rest is a story…

4. He’s a long-term trader, sometimes holding positions for more than a year. He’s computerized his strategy. At least, his background in scientific research and mathematical analysis both in academia as well as in the defense contracting industry has been applied to trading; and successfully. He himself said: I felt there were very definite economic trends that were established from knowledge and the ability to know what events meant. I was looking for a way to participate in [those] major trends when they occurred, even though they were unexpected.”

5. We don’t change our profitable methodologies because of drawdowns. Minor changes might be made to make a good methodology perform better, but that should not interfere with a good trading idea.

6. Bill acknowledges that money management is the true survival key; plus trading without a predefined exit strategy is a recipe for disaster.

Conclusion: Speculation has to do with the unpredictability of the future. Whatever people do have to do with some of forecast which is inherent in the uncertainties of human acts and actions.

This article is ended with a quote from Bill:

“We have not made any changes because of a drawdown. While we have made minor changes since the program started trading in 1974, over the course of the years the basic concepts have never changed. The majority of the trading parameters and the buy and sell signals largely have remained the same.”

Source: www.tallinex.com

Weekly Trading Forecasts on Major Pairs (October 7 - 11, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
From the weekly low of 1.0935, this pair went upwards by over 200 pips, to close above the support line at 1.1100 on Friday. Price is now close to the resistance line at 1.1150, and a breach of that resistance line would enable price to go towards another resistance lines at 1.1200 and 1.1250. As long as the support line at 1.1000 is not broken to the downside, the bullish signal, which has formed in this market, would remain valid.

USDCHF
Dominant bias: Bearish
USD/CHF was unable to go above the psychological level at 1.0000. An attempt to do that on October 25 was quickly forestalled – even before that psychological level was even tested. It has been mentioned that failure to breach the level might result in a serious pullback, and that was exactly what happened. Price pulled back significantly last week, to close below the resistance level at 0.9700 on Friday. This 210-pip bearish movement has resulted in a Bearish Confirmation Pattern in the market and further price decline is a possibility this week (unless USD gathers some stamina).

GBPUSD
Dominant bias: Bullish
Following a few weeks of consolidation, GBPUSD rallied massively last week. Price went upwards 370 pips, to test the distribution territory at 1.2550. The bias has already turned bullish in the short term (though it would take another 1000-pip movement to the upside, before the bias on the daily chart can turn bullish). Right now, there is a strong buying pressure in the market and this should continue this week. Unless USD gathers lots of stamina, bulls would be able to reach the distribution territories at 1.2650, 1.2700 and 1.2750.

USDJPY
Dominant bias: Bearish
USDJPY consolidated on Monday and then plummeted on Tuesday. While going south, the demand level at 102.50 was almost tested, and this has brought an end the recent bullish bias. The demand level at 102.50 would eventually be tested, and probably breached to the downside. However, there is also a possibility that JPY pairs would make some bullish attempts this week, which could also be reflected on USDJPY.

EURJPY
Dominant bias: Bullish
This trading instrument did not move very much last week. Unlike USDJPY, it was engaged in a slight bearish correction in the middle of last week; and the corrective actiion was ended on Friday as the market closed on a bullish note. This week, whatever happens to EUR would have some impact on the market. Before the end of the week, price would have gone either above the supply zone at 115.50 or below the demand zone at 113.50.

This forecast is concluded with the quote below:

“I'm a full time trader. Nothing else…For all of you guys that think trading full time isn't possible, well I'm here to tell you it is. I actually met another full time trader the other day at the basketball court (trading for 20 years) and he trades millions of dollars. So I don't understand why people think that trading full time a myth...” – MarketAddict (Source: Elitetrader.com)

Source: www.tallinex.com

A Trader’s Attitude Makes a Difference!

“Acceptance is a good state for trading because at this level you can accept losses and profits — both of which are a regular part of trading. In fact, acceptance of small losses is critical to successful trading.” – Dr. Van K. Tharp

WHAT’S YOUR ATTITUDE TO TRADING CHALLENGES?
Michael: “I put so much effort and time into my trading, and still didn’t get it right! I’ll never succeed at trading. No matter how hard I try, it’s never good enough. Why do I even try?”

Akin: “I can see that I’m making some progress in trading, but I made some embarrassing mistakes. I’ve learned some valuable lessons that will make me do better next time.”

Questions: 6 months from now, which one would be a more competent trader Michael or Akin? If you want to have a good trader as a friend, which of those two men would you be more likely to keep? When you face frustration in trading, how do you react?

Sade is fed up with trading and she refuses to take steps that can make her improve. She reasons, “Why should I waste my time on a career that gives me nothing in return?”

Michelle makes concerted effort to be a good trader and to help other traders, whether she makes profits or not. She takes to heart the Golden Rules of trading, for she believes they work. For Michelle, trying to be a better trader brings rewards with the time.

Questions: Which of these 2 women did you think would be successful as a trader? Which one would have better results in future? Are you like Sade or Michelle?

WHAT CAN YOU DO?
Avoid Pessimism: Pessimism will sap you of the strength you need to improve your trading and help deal with the challenges. Your outlook and attitude aren’t set in stone. You can be made “new” in your thinking (and ongoing process).

Focus on the Positive Aspects of Trading: If you see everything about trading negatively, you will feel “afflicted” and every day will appear “bad” or gloomy. But if you focus on positive things in trading, you will have a “cheerful heart” and even feel joyful. The choice is yours. Occupy your mind with encouraging subjects on trading.

Do Things to Help Other Traders: Look for opportunities to be self-sacrificing when it comes to helping other traders who need assistance. I haven’t totally put aside my long-term goals. But I’m focusing on the smaller goals I can reach now. When discouraging thoughts creep into my mind, I reflect on the many reasons I’ve to be a happy trader.

If you’re dealing with negative trading circumstances, please ask yourself: Is the situation really hopeless? Have I reached a dead-end or is this merely a road-block. Learn to keep negative thoughts out by concentrating on something constructive in your career.

Conclusion: Care for your attitude toward trading in the same way you would cultivate a garden. Root out the poisonous weeds of pessimism and negativity. Sow seeds of realistic optimism, and fertilize your life with actions that produce positive emotions. You will reap emotional crop that will make your trading career much more rewarding. And it will confirm that a trader’s attitude makes a difference!

This piece is ended with the quote below:

“The only Forex trading tricks recommended are simply patience, self discipline and applying strategies that will allow you not to take big risks.” – Painofhell (Source: Einvestorsforum.com)

Source: www.tallinex.com

I also say a hearty Amen. Some selfish idiots are praying that the USD dollar become N800/$, only because they earn Forex. May this not happen. There are many traders in countries whose currencies are very valuable, and they enjoy financial freedom without their currencies plummeting in value.

Monthly Forecasts for CFDs (November 2016)

AUS200
Dominant bias: Bearish
AUS200 consolidated in the first few weeks of October, and dropped conspicuously last week. There are Bearish Confirmation Patterns in the 4-hour and daily charts, which portend the possibility that price could go further south. Therefore, price may target the support lines at 5200.0, 5100.0 and 5000.0 this month, though there would be temporary consolidations or rally attempts along the way.

SPX500
Dominant bias: Bearish
SPX500 has been consolidating for months. Price has been unable to effect any meaningful bullish rally since August and things are going gradually bearish. Right now, there are bearish signals in the 4-hour and daily charts, and so, the market may reach the support levels at 2100.0, 2090.0 and 2080.0. It is most likely that bears would dominate the market till the end of this year.

US30
Dominant bias: Neutral
This trading instrument has been in an equilibrium phase since August 2016, though price moved a bit lower in September, and then moving sideways till now. Although the equilibrium movement may continue for some time this month, a rise in momentum is imminent, and that may happen this month or next. A break above the distribution territory at 18650.0 would result in a bullish outlook; and a break below the accumulation territory at 17900.0 would result in a bearish outlook. As long as price is between these accumulation and distribution territories, the market would be viewed as being in an equilibrium phase; and so, a strong and persistent buying or selling pressure is needed to push price out of that zone.

GER30
Dominant bias: Bullish
On the daily chart, the bias on GER30 remains bullish. However a closer look at lower timeframes reveals that price is being corrected. Last week, a clear bearish correction was witnessed on the 4-hour char, though that is not yet strong enough to pose a serious threat to the bullish bias on the daily chart. This week, the current bullishness in the market would be most probably maintained, which cannot be overturned until the demand level at 10100.0 is breached to the downside.

FRA40
Dominant bias: Bullish
The situation surrounding this market is quite similar to the condition affecting GER30. The bias on the daily chart is bearish, but some correction has been going on a lower timeframe like the 4-hour chart. The bullish bias would continue to be safeguarded irrespective of some transitory pullbacks along the way, except a breach of the demand zone at 4350.0 is breached.

Source: www.tallinex.com

Weekly Trading Forecasts on Major Pairs (October 31 – November 4, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair moved sideways last week, and then traded upwards on Friday. However, that was not significant enough to result in any bullish signal. The bias on the market remains bearish, and what happened on Friday could turn out to be a short-selling opportunity. The outlook on EUR pairs is bearish for this week, and therefore EURUSD would keep on being bearish. Price may thus test the support lines at 1.0900, 1.0850 and 1.0800 this week. The only thing could help bulls here is a large pullback on USDCHF, which is not likely this week.

USDCHF
Dominant bias: Bullish
This trading instrument has managed to climb above the resistance level at 0.9900, before bears pushed back the price below it. The market has been consolidating for two weeks, though the bullish outlook remains valid. The outlook on USD is bullish for this week and this month, which means most major currencies would be weakened against it. USDCHF would make bullish attempts but there is a very difficult resistance level at 1.0000, which would require lots of buying pressure to breach. Should bulls fail to breach that resistance level, a pullback may materialize.

GBPUSD
Dominant bias: Bearish
Cable has been moving sideways for two weeks, which has resulted in a neutral bias in the short-term. The long-term bias is bearish, and when momentum rises, it may favor bears. The outlook on the market is bearish for this week, and rallies should be disregarded, for they would be transitory and cannot be significant enough to bring an end to the current long-term bearish outlook. In November, large movements would be witnessed on GBP pairs, and they would undergo bearish movements in most cases.

USDJPY
Dominant bias: Bullish
As it was mentioned in the last forecast, USDJPY has become bullish. Price moved upwards by 170 pips last week, to test the supply level at 105.50. The bearish correction that was seen on October 28 was just another opportunity to buy long when things are on sale, in the context of an uptrend. The most probable movement for JPY pairs is bullish for this week, though the situation may change before or by the end of November.

EURJPY
Dominant bias: Bullish
In spite of the weakness in EUR, the EURJPY cross rallied by 230 pips last week. Price closed at 115.11 on Friday, after forming a clear Bullish Confirmation Pattern in the 4-hour chart. The current price action shows that bulls are still willing to push price further north, which may make price to reach the supply zones at 115.50, 116.00 and 116.50 this week. After all, it is expected that JPY pairs would make some bullish attempts in the week.

This forecast is concluded with the quote below:

“Earning a trading income compared to earning an occupation income is just so damned rewarding!” – Louise Bedford

Source: www.tallinex.com

Larry Robbins: Trading with a Great Sense of Responsibility

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 20

“It sounds attractive to try and make a quick buck, but like anything else, real money is made by slowly compounding your returns.” - Andrew Beattie

Name: Larry Robbins
Age: 47
Nationality: American
Occupation: Portfolio and hedge fund manager

A COMMITTED, ILLUSTRIOUS INVESTOR
Robbins was born into a Jewish family, in Arlington Heights, Illinois. He was a hockey star while in college.

One source says he graduated with honors from the Jerome Fisher Program in Management and Technology at the University of Pennsylvania in 1992, where he received a B.S. in Economics with concentrations in accounting, finance, marketing and a B.S in Engineering, with a major in systems engineering. He became a Certified Public Accountant in 1991.

Following his graduation, Larry worked at Gleacher & Company, spending three years there. He worked at Omega Advisors (for Leon Cooperman), spending six years.

He left Omega Advisors, establishing his own firm, Glenview Capital Management, in 2000. This firm has been so successful, averaging 15% returns of net of fees per annum. As of July 2014, Glenview Capital Management had about $9.2 billion of capital under management.

Larry was worth US$ 2.3 billion in December 215. He became involved in various charitable activities, and he’s an active supporter of education reform both in New York City and across the U.S. He’s also the Senior Chair of the Wall Street Division of the UJA-Federation.

He’d four sons by his former wife, Amy Robbins. He lives in Alpine, New Jersey, with his current wife, Sarahmay Wesemael. He’s won awards.

What You Need to Know:
1. It’s no surprise that Larry doesn’t use stops in his trades. There are many traders who don’t use stops and are hugely successful. However, using stops is safer. What does he also do differently? He holds stocks for years, being an investor; and perhaps, that’s one of the reasons why he survives the market in the long run without using stops.

2. Larry said: If you really want to be a good investor, you cannot just be involved, you have to be committed. It’s not about what you did before but about… persistence and continuity of work effort.

3. When you’re affected by a bad trading outcome, you’ll need to take it as a lesson. Most traders who lose may be young and inexperienced. They don’t realize how risky it is to walk into the waters without proper knowledge. But those who’ll end up making money in the markets don’t give up… They take what happen to them as a great education.

4. Larry believes trading isn’t just a job, it’s a passion, though it was almost by accident that he went into the hedge fund and investment business.

5. As a trader, think like an owner, not like a trader.

6. A trader who’s been engaging the markets for 12 years is obviously one that has had some success. That success is what allows traders to be responsible and philanthropic.

Conclusion: Gainful speculation is not that hard on paper – know where to buy and where to sell when price looks to be going in your favor. Really, you got to know what it means to buy at a demand zone and sell at a supply zone. You got to know the meaning of doing this. Traders interpret demand and supply zones differently. When they look at the chart, they come with various decisions. You simply need to find ways to survive the markets while doing your own market analysis.

This article is ended with a quote from Larry:

“I don’t think that I have met someone who is very good in the investment business who isn’t hard-working, bright, talented, and focused.”


Source: www.tallinex.com

Super Trading Strategies: http://www.advfnbooks.com/books/supertradingstrategies/index.html

This is a good post. Because many people, including those living abroad, don't even know what Neteller is. They've not heard of it, and they've not realized its potential.

It's a pity that many readers are yet to see beyond their noses and take advantage of what they see here. Most of what your schools teach you are no longer relevant right now. That's why many so called "educated people" are redundant. The youth need to learn skills that are in demand right now.

It's a pity that, if this has to do with money rituals, celeb pics, or politics, people would love it.

Weekly Trading Forecasts on Major Pairs (October 24 - 28, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
EURUSD dropped by over 100 pips last week. Price has dropped by more than 300 pips since October 10, resulting in a Bearish Confirmation Pattern in the market. The outlook on EURUSD (and other EUR pairs) is bearish for this week. Therefore, slow and steady downward movement is expected on EURUSD and the support lines at 1.0850 and 1.0800 could be tested this week. Rallies would proffer opportunities to sell short at better prices.

USDCHF
Dominant bias: Bullish
Bulls laid a decisive siege at the support level at 0.9900 (formerly a resistance level) from October 12 to 20. It was already forecast that bulls would not find it easy to break the level at 0.9900 to the upside. On October 20, bears gave way to the persistent bullish pressure, partly due to existing stamina in USD. Price was able to close above the support level at 0.9900 after testing the resistance level at 0.9950, and retracing. This week, further bullish movement is possible in the market, because USD is strong and because CHF would be weak this week. Some currencies would rally versus CHF and this would help USDCHF to go more northward, though a significant bullish movement is not likely.

GBPUSD
Dominant bias: Bearish
GBPUSD made a shallow rally attempt from Monday to Wednesday and then consolidated till the end of the week. As it was hinted in the last forecast, this week would witness more volatility on GBP pairs when compared to last week. This means the present consolidation on GBPUSD would end as momentum rises, though the outlook on GBP pairs is bullish for this week. In case GBPUSD rallies, we would not anticipate a serious threat to the extant dominant bias in the market.

USDJPY
Dominant bias: Bullish
USDJPY went sideways throughout last week – a situation that could be termed a sideways movement in the context of an uptrend. The outlook on JPY pairs is bullish for this week, and USDJPY might be able to rise towards the supply levels at 104.50, 105.00 and 105.50. This is a situation that could lead to a strong Bullish Confirmation Pattern in the 4-hour chart. The supply levels at 103.00 and 102.50 would serve to restrict large pullbacks this week.

EURJPY
Dominant bias: Bearish
There is a bearish signal on this trading instrument, as price dived by 170 pips last week. One great factor that has contributed to this bearish signal is the weakness in EUR itself, and the only factor that could effect any rally on this instrument is the fact that Yen could become weak (thereby causing JPY pairs to rally this week). In case EUR becomes weaker than Yen, price would fall further. A factor that causes Yen to become weaker than EUR would bring some rally in the market.

This forecast is concluded with the quote below:

"When you understand the rules of the game, you can play the game like a master..." – James Altucher

Source: www.tallinex.com