U niversity F orex F utures Trading Forex-Verstärker Futures University Traders Bildung Artikel des Monats Willkommen zu unserem Wissen ist Power Resource Guide, die kostenlose Futures-Trading-Informationen, um Sie auf dem Weg zum Handel Erfolg heute Handel der FX Forex Futures-Märkte mit Informationen angeboten Von der Universität für Forex Trading Ausbildung in fx Futures Trading Methoden, Handelssysteme und Trader-Methoden, die zu erfolgreichen Handel führen. Financial Trading Artikel amp Tidbits - geschrieben von Markt-Experte Joe Ross. 1. Measuring Market Opinion und Sentiment Hallo Joe Was ist mit Market Sentiment Berichten Manchmal sind diese Berichte einverstanden und manchmal nicht einverstanden. Was ist Ihre Meinung zu den Stimmungsberichten Obwohl diese Berichte wissenschaftlich klingen, ist nichts über die Handelsmärkte mit wissenschaftlicher Präzision zu messen. Commodity Futures Amp-Forex-Markt Messgeräte sind einfach nicht zu genau. Es gibt keinen praktischen Zweck, einen Markt genau zu messen und die meisten Marktmessungen sind bestenfalls nur eine grobe Schätzung. Wenn wir die Futures-Märkte messen, sind wir grundsätzlich auch menschliches Verhalten zu messen und menschliches Verhalten ist nicht leicht zu messen. Wenn es darum geht, die Finanzmarktbedingungen oder die Marktstimmung zu prognostizieren, ist es sinnlos, nach extremer Genauigkeit zu streben. Rohstoff-Futures und Forex-Marktpreise basieren auf menschlicher Meinung. Bei der Messung menschlichen Verhaltens auf dem Markt ist der statistische Fehler erheblich, in der Regel läuft mit Ergebnissen von plus oder minus 5. Eine Schätzung der Händler oder Investor Meinung ist nur eine Vermutung, weil nicht jeder hat genau die gleiche Meinung, und weil es schwierig ist, Genau eine Meinung messen. Die Variationen dieser 2 Faktoren sind in dem statistischen 8220Standardfehler angegeben.8221 Das Beste, was ein Rohstoffmarkt-Stimmungsbericht anbieten kann, ist eine Aussage über die Wahrscheinlichkeit, die auf einigen wichtigen Annahmen beruht. Let8217s Gesicht es ein Stimmungsbericht geht davon aus, dass das Universum gemessen ist eigentlich real. Eine weitere Annahme ist, dass die Messung der Meinung zuverlässig ist. Ich habe dieses Phänomen in Aktion gesehen. Als ich eine Farm besaß und mit anderen Bauern an verschiedenen Sitzungen vermischte, war es offensichtlich, dass die Landwirte dem Bezirksagenten niemals ihre wahren Pflanzabsichten erzählten. Dennoch gibt die Abteilung für Landwirtschaft einen Bericht über 8220Planting Intentions.8221 Landwirte, die beabsichtigen, Sojabohnen zu pflanzen, würden dem Agenten sagen, dass sie Mais pflanzen würden (und vielleicht auch ihr Maishandelssystem handeln. Landwirte, die beabsichtigen, Mais zu pflanzen, würden dem Agenten sagen, dass sie waren Die Annahme, dass das Universum real war, wurde oft getroffen, weil der Agent in der Tat die Landwirte abbrach. Die zweite Annahme, dass die Meinung zuverlässig war, war kaum real, weil aus verschiedenen Gründen einige Landwirte an den landwirtschaftlichen Agenten gelogen haben könnten Um eine Marktmeinung zu messen. Und nur weil eine Meinung oder Absicht angegeben ist, bedeutet nicht, dass die Person, die es wird auf das, was sie sagen zu handeln. Diese Fragen haben einen direkten Einfluss auf Forex-, Futures-, Börsen-und Rohstoffhandel. Wie Forex Trader, Es sei denn, wir handeln (mit 100 technischen oder Forex-Chart-Analyse), wir sind auch versuchen, die aktuelle Meinung zu bewerten und zu antizipieren, was Forex-Preise basieren wird es oben, unten oder seitwärts, basierend auf dieser Markt Richtung Meinung zu tun. Forex-Marktpreis-Aktion ist ein Spiegelbild dessen, was Menschen tun und was sie sehen und denken, andere tun, und viele Händler stützen ihre Entscheidungen über die potenzielle Reaktion von anderen Händlern. So im Herzen des Handels ist die Idee, dass die Marktmeinung genau durch den aktuellen Rohstoff - oder Aktienkurs gemessen wird. Sein geglaubt von Forex-Markt-Experten alles, was über einen Markt bekannt ist, der globale Forex-Preise beeinflussen kann, ist bereits meist in den Forex - oder Futures-Preis eingebaut, und alles, was nicht bekannt ist, spiegelt sich nicht in der Aktion des Futures-Preises wider. Es ist auch genau zu sagen, dass bei der Anzeige der aktuellen Forex Preis oder neuesten Marktbedingungen, Forex Trader reagieren in bestimmten vorhersehbaren Möglichkeiten. In den meisten Fällen, wenn Forex-Preise sinken, Forex-Händler neigen dazu, ängstlich zu werden und verkaufen ihre Positionen, um ihr restliches Kapital zu schützen, und kaufen Sie wieder, wenn sie sehen Preise steigen, um ihre Gier zu befriedigen. Natürlich ist das Gegenteil von Forex-Händlern, die dazu neigen, kurze Verkäufer zu sein. Aber Angst vor steigenden Preisen durch kurze Verkäufer und Angst vor sinkenden Preisen von denen, die es vorziehen, lange zu sein, ist kaum die Hauptfurcht Zutat auf dem Markt. Die größere Angst scheint die fehlende Bewegung zu sein. Diese Angst ist direkt an Gier gebunden. Ein wichtiges Prinzip aller Markttheorie sind fx Forex Trader und Investoren reagieren auf bestimmte Marktbedingungen in einer konsistenten und vorhersagbaren Weise. Der berühmte alte Trader W. D. Gann visualisierte diese Reaktionen in Form von geometrischen Winkeln, Formen und Mustern. Elliott sah sie als Wellen (jetzt bekannt als Elliott-Wellen), und Charles Dow sah sie als eine Wechselbeziehung zwischen den Industrie-, Transport - und Versorgungssektoren der Märkte. Allerdings gibt es einen guten Grund zu bezweifeln, wenn die Marktpreise wirklich die Meinungen derjenigen, die teilnehmen, reflektieren. Es besteht auch Zweifel daran, ob die Marktteilnehmer konsequent auf Marktsituationen reagieren oder nicht. Es scheint, wie menschliches Verhalten zu schwer zu messen ist und Menschen (einschließlich Trader) nicht konsequent auf ihre Meinungen, Einstellungen und Überzeugungen zu handeln. Es hat sich als sehr schwierig erwiesen, menschliches Verhalten zu messen, und die Menschen reagieren nicht mit Regelmäßigkeit auf Situationen, ja identische Situationen. Wenn wir davon ausgehen, dass Futures-Märkte Händler konsequent auf bestimmte Forex-Marktbedingungen reagieren und damit die Forex-Chart Preismuster skizziert in klassischen Trader technische Analyse Texte, sind wir Platzierung der Handel Pferd vor dem Wagen. Wir gehen dann davon aus, dass die Menschen immer auf bestimmte Situationen und Bedingungen verfahren werden. Allerdings ist die Wahrheit, dass Forex Trader nicht konsequent handeln. Vielmehr reagieren sie konsequent. Forex-Chart-Muster sind eine Reflexion von allen, die auf dem Forex-Markt bekannt ist. Was wir sehen, wenn wir von Diagrammmustern handeln, ist die Art und Weise, wie Forex-Händler und Investoren auf Marktbedingungen reagieren. Beliebte Binäroptionen Broker Bewertungen und Präsentationen finden Sie hier. Unsere Schätzungen, welche Futures-Händler und Investoren tun werden, sind nur beste Vermutungen und potenziell ungenaue. Marktstimmung versucht zu schätzen, wie FX-Händler handeln werden. In gewissem Maße verliert es seinen Wert. Es ist viel genauer zu schätzen, wie die Menschen reagieren, was passiert im Forex-Markt. Also, wenn Sie versuchen zu antizipieren, was Forex-Markthändler tun wird, denken Sie daran, dass Händler Reaktionen nicht unbedingt mit der Präzision der geometrischen Formen, elliott Welle zählt, Marktsektor Beziehungen oder ein Markt Stimmungsindex gesehen werden. Es gibt keine solche Gewissheit. Wenn ich die Person, die mir mit vollständiger Genauigkeit und Konsistenz erzählen kann, wo die nächste Tick oder Pip wird, werde ich sicherlich den Heiligen Gral des Forex Trading und Forex Day Trading gefunden 2. In Schritt mit dem Forex Amp Futures Market Early In der Devisenhandelstag, als Teil Ihrer täglichen Händler Vorbereitung (Sie haben eine tägliche Vorbereitung, don8217t Sie) seine hilfreich, um ein wenig zu üben, um ein quotfeelquot für das, was Sie tun könnten und wie Sie handeln Forex heute. Eine Möglichkeit, es zu tun ist, um ein paar kleine Trades, mit nur einen kleinen Prozentsatz Ihrer normalen Handelsgröße und Ihre Forex Broker Konto Eigenkapital zu machen. Wenn Sie eine kleine Handelsposition einsetzen, können Sie sich konzentrieren. Sobald Sie den Markt betreten haben, sehen Sie, wie die Ware oder Devisenhandel ausarbeitet. Wenn Sie technische Indikatoren verwenden, um zu sehen, ob sie in Übereinstimmung mit Ihrer Vorhersage der Futures, Aktien oder Forex Preis Aktion sind. Wenn Sie eine gute Forex oder Rohstoffe Handel Setup aus der technischen Analyse Indikator erwartete, war das tatsächlich passiert War es gut genug, so dass Sie es wieder vertrauen Forex Trader, die versuchen, 8220trade in der Zone, 8221 versuchen, das Gefühl der Preis-Aktion zu bekommen . Sie wollen mit den Höhen und Tiefen der FX-Preisbewegung Schritt halten. Abonnieren Sie kostenlosen Newsletter Wie man Geld verdienen Die Finanzmärkte Ezine amp in Bezug auf alle Geldangelegenheiten einschließlich Real Estate amp Darlehen Click-Here Now to Get quotHow, um Moneyquot zu machen Klicken Sie oben auf Newsletter anmelden Ezine oder Click-Unten, um RSS-Feed abonnieren Einige Tage können Sie einfach nicht so gut sein wie an anderen Tagen. Wenn du nicht mit dem fx-Markt in Einklang bist, sollte es dir ein Signal geben, dass du den Tag hast. Wenn es isn8217t, don8217t Handel. Jeder Trader wird Trading-Slumps, Perioden, wenn Trades nur don8217t scheinen zu arbeiten. Während Trader-Slumps, macht es einfach nicht viel Sinn, weiter zu versuchen. Sie sind nicht fit zu handeln, also don8217t. Sie werden nicht am besten handeln. Klicken Sie hier für Trading Tip of the Day. Professionelle Rohstoff-Futures und FX-Händler schlagen vor, beiseite zu legen, wenn Sie oder Ihre Trades keinen guten Handelstag haben. Letztendlich ist es eine gute Idee, eine Pause vom Handel zu machen, um es später noch einmal zu versuchen. Die Pause kann Stunden oder Tage sein. Wenn ich in einem Einbruch bin, ziehe ich eine ganze Woche aus. Ich fange an, wieder zu handeln, bis ich die Trades und die Märkte gesehen habe. 3. Don8217t Deny Reality Wenn Sie ein erfolgreicher Forex oder Futures Trader sein wollen, müssen Sie sicherstellen, dass Sie nicht verweigern Realität in jeder Phase Ihres Handels. Sie können nicht verweigern Verluste, Preis-Richtung, Fehler, die Sie machen, unterkapitalisiert, oder eine ganze Reihe von Dingen, die Sie lieber nicht denken. Viele Händler denken, dass der beste Weg, um mit unangenehmen Ideen, Ereignissen oder persönlichen Charakter Mängel zu behandeln ist, ihre Augen zu schließen und vorgeben, dass sie don8217t existieren. Let8217s Gesicht, FX und Rohstoffhandel kann schwierig sein, manchmal sehr schwierig und es ist wichtig, dass Sie auf die Realität konzentrieren. Verleugnung nimmt Ihren Fokus weg von der Sache, die Sie sich konzentrieren müssen auf die Aktion von Preisen8212 unabhängig von Zeitrahmen. Ihr Verstand muss klar sein, damit Sie auf den Markt schauen können und sehen, was wirklich dort ist. Die Art, wie ich gelernt habe, die Ablehnung zu behandeln, war, einfach aufzuschreiben und konfrontieren alle möglichen Ideen, die ich Schwierigkeiten hatte zu akzeptieren. Einige Gedanken, die ich reparieren konnte und andere, die ich nur akzeptieren musste. Aber mit der Wahrheit dessen, was und wer du bist, ist die einzige Möglichkeit, mit der Ablehnung umzugehen. Sie müssen erkennen, dass zum größten Teil die einzigen Dinge, die Sie ändern können, in sich selbst sind. Andere Dinge, die du nur akzeptieren musst. Sie müssen die Realität des Schlupfes zum Beispiel akzeptieren. Sie müssen erkennen, dass Indikatoren oft falsche Signale geben und dass es keinen magischen gleitenden Durchschnitt gibt, noch gibt es einen magischen Oszillator. Sie müssen erkennen, dass einige Sieger-Trades nur glückliche Trades sind und nichts mit Ihrer Fähigkeit als Trader zu tun hatten. Auf dem gleichen Grund werden Sie auch das Unglück erleben, wenn die Preise einen plötzlichen und unerwarteten Zug gegen Sie machen. Anstatt deine Zeit in der Ablehnung zu vergeuden, konzentriere dich deine geistigen Energien auf die Verbesserung deiner und deiner Handelsfähigkeit. Arbeit an der Verbesserung Ihrer Fähigkeiten zu beobachten. Erkennen Sie, dass Sie die Märkte überleben müssen, um von den Erfahrungen der Märkte zu profitieren. Es gibt wirklich nur ein wahres Problem mit deinem Trading8212das Problem ist dir aber das Problem manifestiert sich auf zwei Arten: 1. Marktbedingungen haben sich geändert und du haven8217t. 2. Du tust nicht mehr, was du getan hast, als du gewannst. Du hast getrieben Sie sind nicht konsistent. Der erste Aspekt des Problems ist auf eine schlechte Beobachtung zurückzuführen. Der Markt hat sich verändert und du hast mich damit verändert. Die schlechte Beobachtung ergibt sich aus einer Vielzahl von kleineren, aber sehr wichtigen Problemen. Sie haben einen Markt oder einen Devisenhandel geheiratet. Du hast dein Ego erlaubt, das Beste von dir zu bekommen und du bist nicht mehr bescheiden. Ich habe gerade ein paar hier genannt. Ich fordere Sie auf, über die vielen Dinge nachzudenken, die Sie vom Sehen ablenken können, wenn sich die Marktbedingungen geändert haben. Machen Sie eine Liste dieser Dinge und konfrontieren sie. Der zweite Aspekt des Problems ergibt sich aus der Inkonsistenz des Händlers. Auch hier solltest du eine Liste der Dinge machen, die dich dazu bringen, widersprüchlich zu sein. "Vielleicht war ich ein guter Trader auf einmal, aber die Marktbedingungen haben sich geändert und ich kann nicht in der Lage sein, meine Reputation zu halten." Dies ist ein Problem, das alle Händler irgendwann gegenüberstehen: ihren Ruf beibehalten. Wenn man große Gewinne Handel macht, ist es verlockend, Nachbarn und Freunden zu erzählen, wie gut du tust. Es ist großartig, wenn du die großen Gewinne machst, aber die Aufnahmen zu halten, ist oft der Untergang selbst der klügsten Händler. Wieder einmal verleugnen Sie Ihre Notwendigkeit für Ruhm und Ruhm, oder vorgeben, dass Sie eine unrealistische Reputation beibehalten können, wird Ihre psychologische Energie verbrauchen und stören Ihre Fähigkeit zu konzentrieren. Riesige Gewinne neigen dazu, zu den Demütigen zu gehen, also versuchen Sie nicht, Ihren Ruf aufzubauen. Gib zu, dass du Schwierigkeiten hast, die Aufnahmen zu halten und einfach nur damit aufzuhören. Eine Tatsache, dass ein Trader mit kontinuierlich ringt ist die Vorstellung, quotTrading ist nicht eine legitime job. quot Viele Händler kämpfen mit der Legitimität des Handels. Einige Händler finden, dass sie sich einfach daran erinnern können, quotTrading bietet Liquidität und hilft, die Preise zu kontrollieren. Andere Händler sind jedoch der Meinung, dass dies nicht gut genug ist und in ihrer täglichen Handelsaktivität mehr Bedeutung finden muss. Zum Beispiel können sie sich darauf konzentrieren, wie der Handel ihnen hilft, für ihre Familie zu sorgen, oder kann planen, einige ihrer Gewinne an Wohltätigkeitsorganisationen zu spenden, die sie als persönlich wertvoll ansehen. Der Punkt ist, verweigern die mögliche Wahrheit zu solchen Ideen nicht. Du wirst es besser sein, sie anzurufen und zu arbeiten, und dann nur weiterzumachen. Verweigern sie auf der anderen Seite, wird sowohl Zeit als auch Energie verbrauchen. Inakzeptable Überzeugungen neigen dazu, in den Rücken Ihres Geistes zu liegen. Sie bleiben dort, lauern, und wenn Sie anfällig sind, können sie Ihren Ausblick mächtig beeinflussen. Zeigen Sie also inakzeptable Ideen an, und sobald Sie die mögliche Gültigkeit solcher Ideen zugeben, werden Sie ihren potenziellen Einfluss neutralisieren. Dies wird die begrenzten psychologischen Ressourcen freisetzen, so dass Sie alle Ihre Energie auf den Handel profitabel und konsequent gut konzentrieren können. 4. Handelsverluste Hey Joe Losses sind ein großes Problem für mich. Ich weiß, dass ich mich für sie interessieren möchte.8221 Wie gehst du mit diesen entmutigenden Ereignissen um? Nach einer Reihe von sehr erfolgreichen Trades sollte ein Händler nicht durch normale sukzessive Verluste und Vermittlungskonto-Equity-Drawdown entmutigt werden, sondern lernt, sie zu erwarten. Beachten Sie, dass ich didn8217t sagen, 8220learn, um sie zu lieben8221 Alright let8217s sagen, Sie haben gerade einen beträchtlichen Hit und Equity Drawdown in den Forex-Markt. Du fühlst dich schuldig und wütend Sie wünschen, dass es nicht passiert ist. Du möchtest, dass es weggeht. Sie sagen sich selbst, 8220Dies ist ein Teil des Preises, den Sie bezahlen, um ein rentabler und erfolgreicher Trader zu werden.8221 Ist das richtig denken, ist dieser Handel alles, was Sie wirklich brauchen, um in einen Handel zu gehen, der erwartet, dass er Don8217t Sie glauben, dass es Sie sehen Solche Aussagen dargelegt als Wahrheit, glauben, dass sie nicht helfen wird, ein erfolgreicher Trader zu werden. Wenn du an dich selbst denkst, habe ich nur viel Geld verloren und wohne diesen Gedanken, den du bald in Schwierigkeiten hast. Wenn du denkst, kann ich es einfach abschreiben, 8221 dann trainiere dich, um es als einen kleinen Rückschlag zu betrachten und weiterzumachen. Ich weiß, dass es schwierig ist, aber das ist, was du tun musst. Als Forex-Markthändler müssen Sie schon lange denken. Sie müssen glauben, dass, wenn Sie klug genug arbeiten, und machen die guten fx Trades unter den richtigen Marktbedingungen, youll kommen voran. Allerdings gibt es keine Möglichkeit, dass diese Art von Denken einfach ist. Es braucht eine enorme Menge an Disziplin und Selbstbeherrschung, um Handelsverluste positiv zu behandeln. Warum, weil die Verluste verletzt wurden, wie lange du gehst. Wenn du Schwierigkeiten hast, einen Verlust zu nehmen, bist du nicht allein. Alle Händler leiden an Verlusten. Als Händler, die Verluste, die Sie nehmen, kann eine Tatsache des Lebens sein, aber das macht sie nicht leicht zu handhaben, und Sie sicherlich don8217t müssen lernen, sie zu lieben. Als Händler solltest du die Höhe der Verluste kontrollieren, indem du sie klein hältst und durch den Auszug fahre, bis eine andere Sequenz von Gewinnen beginnt. Trotzdem kannst du dich schuldig fühlen, einen Verlust zu verlieren. Warum haben wir dieses Schuldgefühl über Verluste Ein Teil dieses Schuldgefühls stammt aus einem starken menschlichen Drang, sich zu schützen. Also, wenn du Geld verlierst, auch als professioneller und aktiver Trader, tut es weh, wenn du an die Dinge denkst, für die du das Geld benutzt hättest, das du verloren hast. Sie wurden wahrscheinlich gelehrt, so zu denken. Die sozialen und kulturellen Werte des Schutzes selbst wurden schon früh in Sie programmiert. Wenn du Geld für einen Handel verlierst, fühlst du dich schuldig und vielleicht sogar ein bisschen panisch. Sein ganz natürlich und verständlich, aber wer sagt, dass Händler natürlich sind oder sogar, dass sie in einer verständlichen Weise handeln Als aktiver professioneller Trader müssen Sie Ihr Denken über Verluste ändern. Sie müssen Ihren natürlichen Neigungen widerstehen und erfahren, dass Verluste ein Teil jedes Unternehmens sind. Einzelhandelsgeschäfte nehmen Verluste aus Bruch, Ladendiebstahl und Mitarbeiterdiebstahl. Versicherungsgesellschaften nehmen Verluste aus falschen Ansprüchen. Tabakunternehmen werden verklagt. Chemische Unternehmen machen schlechte Chargen und müssen sie wegwerfen. Landwirte verlieren Getreide. Viehzüchter verlieren Vieh. Ich kann nicht an ein Geschäft denken, das keine Verluste erleidet. Also, was machst du über die Art und Weise, wie du aus der Kindheit programmiert wurdest. Du musst deine Gefühle konfrontieren und mit ihnen umgehen. Erkennen Sie, dass Sie Schuldgefühle haben. Verstehen Sie, warum Sie diese Gefühle haben. Für jeden von uns kann sich der zugrunde liegende Grund in Art und Intensität unterscheiden. Es hilft, die Tatsache zuzugeben, dass es nachteilige Folgen des Risikos mit Ihrem hart verdienten Geld geben kann, und denken Sie daran, dass Schuldgefühle, die mit dem Geldverlust verbunden sind, den Sie sich nicht leisten können, noch schlimmer ist. Keiner hat irgendwelche Geschäfte mit Geld, die sie sich nicht leisten können. Beim Handel mit Geld, das speziell für den Handel beiseite gelegt wurde, und Sie und Ihre Familie (wenn Sie eine haben) sind alle einig, dass dies Geld ist, auf das Sie verzichten können, im Falle eines Verlustes nimmt es viel den Druck des Verlierens . Die aktive Vermeidung von Verlusten durch intelligentes Risikomanagement hilft auch, Stress abzubauen und die Wahrscheinlichkeit eines katastrophalen Verlustes zu senken. Wenn du weißt, dass du alles getan hast, um das Risiko zu minimieren und du fühlst sicher, dass du einen großen Treffer auf deinem Account-Szenario überleben kannst, kannst du in der Lage sein, Verluste leichter zu behandeln. Effektives Risiko, Geld und Handelsmanagement gehen einen langen Weg zum Aufbau Ihres Vertrauens und entlasten den Stress von Handelsverlusten. Sobald Sie sich um Risiko-, Geld - und Handelsmanagementprobleme gekümmert haben, müssen Sie auch dafür sorgen, dass Sie über ausreichendes Handelskapital verfügen. Eine der sichersten Weisen, ein Misserfolg in den Devisenmärkten oder anderen Futures-Märkten zu beenden, ist, in ihnen unterkapitalisiert zu gehen. Der größte Prozentsatz der Geschäftsausfälle aller Art ist von der Kapitalisierung aus. Die U. S. Small Business Association besagt, dass nur 1 in 1.500 Kleinunternehmen Startups ist erfolgreich am Ende der 5-Jahre. Die meisten dieser Geschäftsausfälle kommen aus Unternehmen, die unterkapitalisiert sind. Es ist nicht anders für das Geschäft von Forex und anderen Futures-Handel. Sie haben so viel Chance, im Handelsgeschäft zu beginnen, beginnend mit einem kleinen 5.000 Konto, wie Sie von der Gewinnung der Staat Lottery.8221 Unabhängig davon, welche Ebene Sie beginnen mit Ihnen müssen Handelsverluste sofort zu reduzieren. Je schneller Ihr Trader einen Verlust nimmt, desto höher ist die Wahrscheinlichkeit, dass Sie schließlich profitabel sein werden. Durch das Lernen, schnell Verluste zu erlangen, wird es dir früher folgen. Handelsverluste sind ein Geschäftsaufwand. In einem gewissen Sinne sind Handelsverluste Teil der Kosten für die Geschäftstätigkeit. In einem anderen Sinne sind die Kosten der Verluste Teil von dem, was Sie zahlen, um das Geschäft der Rohstoff-Futures-Handel zu lernen. Verluste sind eine Tatsache des Lebens in einem Händlerleben. Verluste werden nicht leicht akzeptiert. Aber du musst doch lernen, sie zu lieben. 5. Trading Panics und Fast Markets Hey Joe Mit all der Rede von einer möglichen Panik, glaubst du, die Regierung wird eingreifen, um einen Absturz zu lindern Wenn eine Trading-Panik den Markt ergreift, fragen Sie sich, was die Regierung tun wird, um die Vernunft wiederherzustellen und zu schützen Seine besten finanziellen Interessen. Während der Börsen-Panik injiziert die Federal Reserve sofortige Liquidität durch Rückkauf von Staatsanleihen und niedrigere Zinsen. Im Oktober 1987 sammelten T-Bond-Futures 10.000 pro Vertrag, als der Dow an einem Tag 508 Punkte stürzte, was als ein gigantischer Marktcrash auf der Basis des niedrigen DJIA in diesem Zeitraum stand. Es gab Zeiten, in denen keine NYSE-Aktie gehandelt wurde, weil es keine Käufer gab. Es dauerte ein Trader 4 Tage, um nach Charles Schwab zu kommen, um einen Handel zu bestätigen. Das Telefon war auf automatische Wahlwiederholung von 7 Uhr bis 19 Uhr, während dieser 4-Tage-Periode. Es dauerte 14 Tage, um den Handel zu bestätigen. Es ist meine feste Überzeugung, die auf Beweisen in meinem Besitz basiert, dass die Regierung wirklich ein Tauchschutz-Team hat, eine Offshore-Einheit, die in den Börsengang kommt, wenn die Preise zu schnell fallen. Diese Entität kauft was auch immer, wo und wann immer nötig ist, um die Börse von einem völligen Crash zu halten. Wenn die Getreidepreise aufgrund von Hochwasserschadensnachrichten stark ansteigen, liegt es im besten Interesse der Regierung, weitere Preiserhöhungen zuzulassen. Betrachten Sie die inflationäre Wirkung des stark korngewichteten CRB-Index. Wenn die Getreidepreise aufgrund der wachsenden Probleme zunehmen, fühlen sich Landwirte Groll gegen Chicago-Händler, die von Landwirten Unglück profitieren können. Die Regierung kann falsche Berichte ausgeben, um die Getreidepreise niedriger zu fahren. Die 1993 überschwemmten Überschwemmungen betrafen 70 des Mais und 50 der Sojabohnen-produzierenden Staaten, doch waren die Erträge höher als 1991 Produktionsniveaus mit Ausnahme von drei Staaten. Wie könnte dies sein, wenn Regierungsfiguren verändert wurden, um die Inflation zu halten. Sie wetten, dass sie waren. Achten Sie auf spät 1993-Typ bullish Regierung Getreide Markt Freigaben, um Getreide Märkte deutlich höher, wenn die Bedingungen der Hochwasser oder Dürre erscheinen. Bestellen Sie eine Trading-Beratung oder Website-Anfrage von Going-Here 6. Hey Joe Ich möchte lernen, wie man handeln, aber I8217m mit einem Konflikt. Ist Handel Futures Glücksspiel Trading Futures ist nur spielen, wenn Sie handeln sie ohne volle Kenntnis von dem, was Sie tun. Es gibt ein gutes Maß an Selbsterkenntnis, um den richtigen Kurs zu wählen, um zu folgen, wenn Sie ein Händler werden wollen. Es wurde sogar postuliert, dass viele kleine Händler in den Forex - und Futures-Märkten, ohne es zu wissen, heimlich verlieren wollen. Sie springen mit hohen Hoffnungen auf, aber das Gefühl, vage schuldig zu sein. Schuldig über das Glücksspiel mit dem familys Geld, schuldig zu versuchen, etwas für nichts zu bekommen, oder schuldig über stürzen, ohne wirklich viel Forschung oder Analyse getan haben. Dann bestrafen sie sich, für diese oder andere Sünden, durch den Verkauf, demoralisiert, mit einem Verlust. Ein Händler ist Glücksspiel, wenn er von Unwissenheit handelt. Der Spieler macht seine Handelsentscheidungen über Bauchgefühle, Hoffnungen, Träume, reich zu werden, Tipps vom Vermittler, von den Freunden und von dem unsachgemäßen Verständnis und der Verwendung von Indikatoren, Oszillatoren, gleitenden Durchschnitten und mechanischen Handelssystemen. Im Allgemeinen sucht er nach einem Weg zur Verknüpfung, um wirklich zu lernen, was los ist. Leider sind die meisten neuen Händler, die versuchen, Futures zu handeln, in diese Kategorie fallen. Allerdings ist echter Handel eigentlich Spekulation (Managed Risk). Der Spekulant ist bereit, das Risiko von Preisschwankungen im Gegenzug für die größere Hebelwirkung zu akzeptieren, die mit diesem Risiko in der Hoffnung kommt, einen größeren Gewinn zu verdienen. Der wahre Spekulant macht seine Handelsentscheidungen auf der Grundlage von Wissen aus Informationen über das Verhalten der zugrunde liegenden, Saisonalität, historische und aktuelle Markttrends, technische Chartanalyse, Rohstoff-Grundlagen, Investment-Markt-Dynamik und Kenntnisse derjenigen, die es handeln, 7. Hey Joe Was ist mit dem Hinzufügen neuer Positionen beim Day Trading Ein Tag Trader sollte lernen, den Markt zu drücken und Verträge bei der entscheidenden Trend-Bestätigung Intra-Day-Preise hinzufügen, bewegen alle Schutzstationen zu brechen auch mit zusätzlichen Verträgen. Wenn ein Bullenmarkt neue Halbtageshöhen macht, anstatt einen Preis pro Einheit zu handeln, handeln Sie zwei oder mehr Preiseinheiten mit einem festeren Stopp. Entweder explodiert der Markt, oder der Handel wird sofort verlassen. Bei der Erstellung von Bullenmarkt-Handelspositionen, verschieben Sie die Stop-Stop-Loss-Aufträge, um zu brechen, auch wenn neue Handelspositionen hinzugefügt werden. Die beste Lage für Ihre schützende Stop-Loss-Order ist unterhalb einer vorherigen Reaktion niedrig, Swing-Low, Trendlinie oder psychologische Preis Widerstand Bereich. Und denken Sie daran, dass Sie nicht zu einer bestehenden Position hinzufügen. Sie haben es richtig, wenn Sie sagen, Hinzufügen 8220new8221 Handel Positionen. Sie sind neue Handelspositionen und müssen als solche verwaltet werden, während sich daran erinnern, dass jede Position 8220new8221 so viel näher an das Ende des Umzugs gesetzt wird und daher ein erhöhtes Handelsrisiko des Verlustes trägt. 8. Hey Joe Glaubst du, es gibt irgendeine Wahrheit in diesem einzelnen Händler sind von der allgemeinen Stimmung des Finanz-und Forex-Markt betroffen Ich glaube, es gibt eine Menge Wahrheit in dieser Aussage. Ich glaube auch, dass Sie lernen müssen, sich von den Finanzmarktbewegungen zu lösen. Ich habe vor langer Zeit etwas gelesen und gerettet. Ich erinnere mich nicht, wer es geschrieben hat, aber hier ist es: 8220Kurzfristiger Handel muss in der Nähe der Liste der unvorhersehbaren und aufregenden Berufe auf unserem Planeten stehen. Da die Aggregate der Marktteilnehmer den Markt auf steigende Höhen und schreckliche Tiefststände reiten, steigt das kollektive Bewusstsein der Menge zur Euphorie und verfällt in der Verzweiflung mit der Preisbewegung. Wenn die Menge eine kumulative Emotion erlebt, die von leichtem Optimismus, Gier und Euphorie, zu kleineren Ängsten, dann Angst und völliger Panik auftritt, steht fest, dass alles andere als die meisten Roboter der Händler durch persönliche Gefühle gehen, die die Erfahrung der Menge spiegeln. Es ist üblich, Händler zu finden, die in Hochstimmung bleiben, wenn der Markt sich treibt und sich niedergeschlagen und deprimiert fühlt, wenn der Markt sinkt. In den vergangenen Jahren hätte dies vielleicht mehr Bedeutung gehabt, weil viele Händler sich weigerten, kurz zu verkaufen, verpassten sie die Marktaktivitäten, als sie stürzten. Ein weiterer Grund für die 8216up ist gut, unten ist bad8217 Emotion Wippe liegt in der unglücklichen Tatsache, dass, wenn Märkte fallen, viele Anfänger Händler ihre Stop-Loss-Punkte ignorieren. Ein fallender Markt sinkender Kontostand. Der Nachteil dieses Syndroms ist jedoch mehr als schädlich für Ihren Reichtum. Das Anbringen Ihrer Emotionen auf Markt-Gyrationen kann Ihre Beziehung mit Ihren Lieben und Freunden negativ beeinflussen. 8220Wie bleiben Sie getrennt und losgelöst von Marktstimmungen Zuerst sagen wir das Offensichtliche: Erwerben Sie das Wissen und die Disziplin, die benötigt wird, um kluge Handelsauswahl zu machen. Zweitens verfeinern Geld-Management-Fähigkeiten ist es ein absolutes 8216must.8217 Stellen Sie einen Gesamt-Großbild-Plan für Ihr Handelsgeschäft, so dass tägliche Markt-Gyrationen nicht so erschreckend aussehen. IMMER planen Sie Ihren Handel und handeln Sie Ihren Plan. Im Zweifelsfall raus Wenn Sie es nicht genießen, kurz zu verkaufen, wenn der Markt 8216rols vorbei ist, nehmen 8217 Gewinne und bleiben an der Seitenlinie, bis sich die Bedingungen verbessern. Immerhin, wenn Sie in bar sind, haben Sie keine emotionale Verbindung an Marktaktivität gebunden. Wenn Sie lernen, sich von der Marktstimmung zu trennen, werden Sie emotionale Einschränkungen abschütteln, die Ihre Handelsentscheidungen behindert haben könnten. Und das sollte einen positiven Einfluss auf Ihren Trading-Erfolg haben.8221 Details zu Trader Consulting oder Making a Website Anfrage von Going-hier 9. Hey Joe Ich weiß, ich bin ein Over-Trader. Ich glaube, ich verstehe nur, warum In deinem Gesamtmanagement, wo sich der Handel in Over-Trading passt, unter dem Thema Risikomanagement passt. Wir reden 8220risk control.8221 Zuerst würde ich sagen, dass das Risikomanagement eines der wichtigsten Dinge ist, die Sie wirklich verstehen müssen. Zweitens müssen Sie beginnen zu unter-handeln, unter-handel, unter-handel. Was auch immer du denkst, deine Handelsposition sollte sein, schneide es mindestens in der Hälfte. Meine Erfahrungen mit Anfängerhändlern handeln sie 3 bis 5 mal zu viel. Anders als auf Spreads, nehmen sie 5 bis 10 Prozent Risiken auf einem Handel, wenn sie 1 bis 2 Prozent Risiken nehmen sollten. Das Prinzip der Erhaltung des Kapitals impliziert, dass, bevor Sie eine mögliche Marktbeteiligung betrachten, das Risiko das Hauptanliegen sein sollte. Sie sollten die potenzielle Belohnung nur im Kontext des potenziellen Risikos berücksichtigen. Risiko muss der entscheidende Faktor für eine Position sein. Dies ist die wahre Bedeutung der Risikoanalyse. Richtig angewandt, setzt es Maßstäbe für die Bewertung nicht nur, ob überhaupt ein Handel zu nehmen, sondern auch in welchem Ausmaß. Erhaltung des Kapitals8212Refuse zu verlieren8212 wird die Grundlage für intelligentes Geldmanagement. 10. Gibt es Ordnung in den Märkten Gibt es definierbare Chart-Formationen, die die grundlegenden Bausteine der Preis-Aktion bilden Ja, ich glaube, es gibt, und ich bin glücklich, sie mit Ihnen zu teilen. Ich entdeckte sie vor vielen Jahren, im Laufe der Zeit und durch den Einsatz von Statistiken. Es gibt drei grundlegende Muster, die in jedem Zeitrahmen auf jedem Diagramm gesehen werden können, das in der Lage ist, Ihnen die hohen und niedrigen Werte der Preise zu zeigen. Ich interessiere mich für die Interpretation dieser Muster, wie sie für die Preisbewegung gelten. Ich nenne diese Entdeckung 8220Das Gesetz der Charts, 8221 und es steht den Lesern dieser Publikation kostenlos zur Verfügung, einfach durch den Besuch unserer Website. Sie können das Gesetz der Charts auf jeder Art von Chart, die häufig in der Marktanalyse heute verwendet werden, entdecken: Das Gesetz kann auf Bar-Charts, Leuchter-Charts und Punkt - und Figur-Charts gesehen werden. Das Gesetz der Charts Die drei Grundmuster, die das Gesetz der Charts ausmachen, sind wie folgt: Einige von diesen können weiter wie folgt unterteilt werden: Seit Jahren haben die Händler Preisdiagramme betrachtet und sich gefragt, was sie meinten. Manchmal ist die Betrachtung eines Preisdiagramms ähnlich wie bei den Sternen zu sehen und zu versuchen, herauszufinden, welche zu verbinden, um Ihnen die Formation bekannt als 8220Taurus, die Stier.8221 Allzu oft Chart-Formationen existieren nur im Auge des Betrachters. Um welchen Punkt wird eine 8220pennant8221 Formation ein Wimpel Was genau stellt eine 8220coil dar, 8221 und wann ist es eine Spule Genau wie würdest du eine 8220head und shoulders8221 Formation definieren Wann kannst du ein 8220megaphone8221 ein Megaphon MEHR WICHTIG, was mache eine dieser Formationen? Sagen Sie Ihnen Die Entdeckung des Gesetzes der Charts war ziemlich zufällig, etwas auf der Ordnung von Newton, das das Gesetz der Schwerkraft entdeckte, als ein Apfel auf seinen Kopf fiel. Wie bei den meisten Entdeckungen wurde das Gesetz der Charts durch einfache Beobachtungen entdeckt, die viele Jahre lang auftauchten, bis die Formationen gerade herauskamen und sich zeigten. Die Details des Gesetzes der Charts sind in unserem e-Buch mit dem Titel, von allen Dingen, zu sehen 8222Das Gesetz der Charts.8221 Um zu sehen, wie dieses Tradergesetz im regulären Handel angewendet wird, freuen wir uns, mit Ihnen unsere wöchentliche Zeitschrift zu teilen, in der we show actual application of the law. The weekly journal, which we call 8220Chart Scan8482,8221 is also available at no charge. The Meaning of the Formations 1-2-3s occur only at the end of trends and swings. They are an indication of a change in trend. They take place when the directional momentum of a trend is diminishing. Exactly the way to identify 1-2-3 formations is detailed in our e-book. You will also find in the e-book how to register to receive our Chart scan journal. Consolidations and the ability to identify them are of utmost importance because prices tend to move sideways far more than they tend to trend. Ledges occur only when values are trending. They constitute a pause in the trend. The pause may be due to profit taking or, more usually, are reflective of uncertainty in the market. The traders e-book explains more fully how to deal with so called Ledges. Ledges are consolidation areas consisting of no less than four occurrences of price value and no more than ten occurrences of price value, having two matching highs and two matching lows. Congestion areas are sideways consolidations of price value and reflect periods of accumulation and distribution. You might say that they indicate a market that is essentially at fair value with no significant changes in supply or demand. Congestion consists of from 11 to 20 occurrences of price value prior to a breakout. Trading ranges are extended consolidations of price value. They consist of sideways movement lasting twenty-one bars or more. Interestingly, statistics show that breakouts from trading ranges occur most often on price value occurrences from twenty-one to twenty-nine. Furthermore, the narrower the trading range becomes, the more explosive tends to be the breakout, and the wider the trading range becomes, the less explosive will be any breakout from the sideways action. Trading ranges also reflect markets that are at fair value with little change in supply or demand. Ross hooks always occur as the result of profit taking. A ross-hook is defined as the first failure of prices to continue in the direction they were previously moving following the breakout of a 1-2-3 formation, the breakout of any of the consolidation patterns mentioned above, or the breakout of a previous Ross hook. Each one of the basic trade formations is able to be defined. The specific definitions are available in the previously mentioned e-book, 8220The Law of Charts.8221 Since the basic formations occur in a variety of ways when seen on a chart depicting actual price action, we want to help you fully understand how to apply the law. There is considerably more to the Law of Charts than can possibly be described in this overview article. You can obtain a clear, thorough understanding of how we trade using The Law of Charts through the Chart Scan, which is sent out by E-mail each week. We invite you to join us in a better understanding of what you see on a price chart. Joe Ross8217 Trading Educators is dedicated to helping serious traders to become better traders. Our staff and branch offices consist of real traders trading real markets. Trading Educators is involved in day trading and position trading in a variety of markets including futures, equities, and forex. In addition, our offices regularly trade futures spreads and options on futures. 11. Hey Joe If I get all my forex buy and sell signals to work properly, I should come out a winner, right Wrong The perennial questions are, 8220Should I buy Should I sell8221 All too many traders focus their efforts on identifying buy and sell signals. In fact, that8217s what most trading books consist of8212some way to find buy and sell signals. Trading systems are usually all about 8220where to get in.8221 The research and analysis traders do is geared towards reaching the goal of getting that magic 8220base line8221 directive to guide their actions. How ignorant can you be Any successful, experienced trader will tell you that although properly identifying buysell signals is important, it8217s not the key to being successful. Instead, the way you manage each trade is what will determine your success. Traders who take the baseline approach tend to believe that the success of their trading activity is dependent on following the right buysell signals at the right time. Clearly, it8217s important that a trader be able to understand the process of generating signals and to use the methods involved. Realistically though, almost any financial trader can find a way to generate signals (whether using technical methods already out there, coming up with their own system, or using their platform8217s automated signal generation tools). Any successful, experienced commodity futures and forex trader will tell you your trade doesn8217t begin and end with a buy or sell. There8217s a trade management process involved. For each commodity futures trade you make, you8217re making a group of decisions. The way you manage and time those decisions is what will determine the success of your trade. Let8217 say 2 traders get the same trade signal at the same time and act on it. One8217s trade may result in profits while the other8217s results in losses. How is this possible It can occur because each trader made a different combination of decisions throughout the course of the trade. The decisions may include scaling in andor out of the trade, using or not using trailing stop-loss orders, setting or not setting profit price target objectives prior to entry, patience or lack thereof, etc. The forex and commodities futures traders who made the most effective overall combination of trading decisions will have the better trade results in the end. Of course, there are time when pure chance, gives the better result to the worst trader. It8217s very important to regard trading as a process, and to understand that as a trader your efforts need to be focused on the activity of trading itself, as opposed to getting a quick base line answer. Because there are many things to take into consideration in making your trades successful, it8217s essential that you educate and train yourself in all the different areas. Learn how to develop better trading plans and to trade a sound and proven important trading technique and technical indicator, and learn how to apply what you have developed to the overall process of executing a trade vs the original impulse to enter or stay-out of a trade to the control of your thought processes and emotions in making and managing that trade. 12. Hey Joe I8217m a long-term trader. Any trading advice for me Note the yearly ranges for the commodities you trade. What is this yearly high and low, are they higher highs, lows and closes compared to last year Does the close confirm price action What is the long term trend How does this years compare to last three years average range Should next year have greater volatility than this year How much based in dollars was the commodities price move from the annual lowest low to highest high price How much did you take out of that range What should next years high and low be for the commodities you trade based on the yearly trend analysis These questions define the yearly long term vertical bars, use the monthly priced bars to answer them. Use weekly price bars to answer major trend questions for monthly highs and lows. 13. Hey Joe At the trading seminar you said it8217s a good idea to study military campaigns if you want to be a good trader. Would you elaborate on this a little Grant and Napoleon had one ability that separated them from other generals, the ability to maneuver troops and supplies to their most effective placements under rapidly changing circumstances. Traders should learn how to manage their funds, rework stop placements, and change their position size with changing market conditions. Conducting warfare and commodity trading have many common factors. All modern warfare is derived from the spear and shield, attack and defend, offense and defense. For trading markets, offense is trade entry and defense is the protective stop. Day trading is like guerrilla warfare, which was first used in Europe during the early 1800s when Napoleon placed his brother on the throne of Spain. Attack rapidly then retreat. Value of Persistence: In the Battle of the Wilderness, Grant let the Southerners know one thing, he would never give up and would fight them under the harshest of conditions. After the battle was over, instead of retreating back to Washington to rest, as some past cowardly Northern generals had done, Grant moved south and stopped Lee from sending reinforcements to Atlanta, which fell to Sherman. The Civil War was won from the Battle of the Wilderness, which Grant is still incorrectly thought to have lost. Grant broke the South psychologically after the Battle of the Wilderness. The stock market or futures trader is a successful human being for the courageous act of trying to become a success trader, regardless of his brokers account equity statement. Churchill said, quotNever give up. Never, never, never give up. quot That statement defines persistence and commitment. There are many trading systems that are profitable, yet there is only one way to correctly analyze price action. Those lessons are contained by regular practice reading charts and working out what you see there. Dont give up and you will find them on the charts. 14. Hey Joe I know you must have been a truly committed trader when you began. How do I get myself to be in control Statistics and society may predict, but you alone determine whether you will succeed or fail. You alone are in control take responsibility for your performance and your life. There are always tremendous opportunities in the markets. It is not what happens it is what you do with what happens that makes the difference between profit and loss. Most traders move from trading method to trading method, over time, until they find one that suits them8230 one that is comfortable to run, and tests well first by trade back-testing, and then by real-time trade testing. Some traders never stop looking for the 8220right8221 way to trade. That is a problem. There are many ways to trade that can generate nice profits over time. To settle on a right way for you to trade: 8226 First, you have to believe in the process which leads to the generation of your entry signals. Does that process make sense to you Maybe you8217re a visual sort of person and you are drawn to Candlestick charting. Take the time to understand why the patters mean 8220reversal8221 and not just accept the 8220picture8221. Go deep. Choose a guru to follow. Maybe you learn best from mentoring. Choose wisely. 8226 Second, method you decide to go with, back-test it. In today8217s modern world of software, there8217s no excuse not to run all the back data you can through your method and see what the results would have been. 8226 Third, THINK about the process you are choosing and why it8217s right for you. THINK about the results you get from your back-testing and your real-time testing of your system. 8226 Fourth, BE A MACHINE (DON8217T THINK) when you are trading your method. This is why I am a huge proponent of mental training for traders. Unless you can control yourself, you can never control your trading. In order to control yourself and your emotions, you have to believe totally in the way you trade. Do the work. Think. Then don8217t think. 15. Hey Joe If you had to come up with a set of steps that would bring trading success, what would those be. I guess from time to time I would say this somewhat differently, but what comes to mind is as follows: Here are five steps to becoming a successful trader 1. Focus on trading vehicles, strategies, and time horizons that suit your personality. You need to be comfortable. 2. Identify non-random price behavior, wherever you can find it. 3. Absolutely convince yourself that what you have found is statistically valid. 4. Set up trading rules. 5. Follow the rules, but don8217t be afraid to break them if the don8217t work. In a nutshell, it all comes down to: a. Do your own thing (independence) b. And do the right thing (discipline). 16. Hey Joe What about adding new positions when day trading Day traders should learn to press the market and add contracts at crucial trend confirmation intra day prices, moving all protective stops to break even with additional contracts. When a bull market makes new half day highs, instead of trading a one price unit size, trade two or more price units with a tighter stop. Either the market profitably explodes, or the trade is exited immediately. Trader Consulting Information, or Make a Website Inquiry by Going-here When building bullish trading positions, move your protective stop-loss to break even as new positions are added. The location ideal for the protective stops are below a previous reaction low, a trend line, or psychological resistance price. And keep on mind that you are not adding to an existing position. You have it correct when you say adding 8220new8221 positions. They are new positions and must be managed as such, all the while remembering that each 8220new8221 position is put on that much closer to the end of the move and therefore carries increased risk. 17. What exactly is a hedger, and what is a hedge A hedger could be someone who grows and sells hedges, but in this case we are not talking about horticulture, although the idea of growing a hedge as a means of protection lends itself to the concept called 8220hedging8221 in the futures markets. The details of hedging can be somewhat complex but the principle is simple. Hedgers are individuals and firms that make purchases and sales in the futures market solely for the purpose of establishing a known price level 8211 weeks or months in advance 8211for something they later intend to buy or sell in the cash market (such as at a grain elevator or in the bond market). In this way they attempt to protect themselves against the risk of an unfavorable price change in the interim. Or hedgers may use futures to lock in an acceptable margin between their purchase cost and their selling price. Consider this example: A jewelry manufacturer will need to buy additional gold from his supplier in six months. Between now and then, however, he fears the price quotes for gold may increase. That could be a problem because he has already published his catalog for one-year ahead. To lock in the price level at which gold is presently being quoted for delivery in 6-months, he buys a futures contract at a price of say, 350 an ounce. If, 6-months later, the cash market price of gold has risen to say 370, he will have to pay his supplier that amount to acquire gold. However, the extra 20 an ounce cost will be offset by a 20 an ounce profit when the futures contract bought at 350 is sold for 370. In effect, the hedge provided insurance (protection) against an increase in the price of gold. It locked in a net cost of 350, regardless of what happened to the cash market price of gold. Had the price of gold declined instead of risen, he would have incurred a loss on his futures position but this would have been offset by the lower cost of acquiring gold in the cash market. The number and variety of hedging possibilities is practically limitless. A cattle feeder can hedge against a decline in livestock prices and a meat packer or supermarket chain can hedge against an increase in livestock prices. Borrowers can hedge against higher interest rates, and lenders against lower interest rates. Investors can hedge against an overall decline in stock prices, and those who anticipate having money to invest can hedge against an increase in the over-all level of stock prices. The list goes on. Whatever the hedging strategy, the common denominator is that hedgers willingly give up the opportunity to benefit from favorable price changes in order to achieve protection against unfavorable price changes. 18. What8217s the meaning of 8220Position Limits8221 Although the average trader is unlikely to ever approach them, exchanges and the Commodity Futures Trading Commission (CFTC) establish limits on the maximum speculative trade position any one trader can have at one time, in any one forex or futures market contract. The purpose is to prevent one buyer or seller from being able to exert undue influence on the market price in either the establishment or liquidation of positions. Position limits are stated in number of contracts or total units of the commodity. The easiest way to obtain the types of information just discussed is to ask your broker or other advisor to provide you with a copy of the contract specifications for the specific futures contracts you are thinking about trading. Better yet you can obtain the information from the exchange where the contract is traded. Position Limits can dash the hope of even the most ambitious traders. With a certain number of contracts, you then have to report your intentions. Along the lines of Position Limits, are certain limits built into any venture which limit a trader8217s ability to trade large size. It is a common fallacy of most aspiring traders to think that if they could just learn to be successful trading a single contract, just think what they could do with 100 contracts, or 1,000 contracts. Besides becoming reportable, the trader runs smack up against two immutable laws: 8226 The law of diminishing returns 8226 The law of diminishing productivity The larger the trading size of the trader, the fewer markets he can enter without becoming everyone8217s target. When you trade too big, everyone is out to get you. If they catch you going the wrong way on a trade they will make mince-meat out of you. So that trader must stick only with markets that can absorb his size. The more contracts you put on, the more problems you have with fills. It becomes difficult to get all contracts filled at a single price. Instead you find yourself managing a series of prices. No fun at all You are so busy managing one trade, that you can no longer manage other trades. Having to manage a lot of different prices reduces your productive ability. 19. Oversold or overbought markets One way to look at consolidation areas is to try to buy into a market when it is said to be 8220oversold8221 at support, or sell into one that is said to be 8220overbought8221 at resistance. In either case you do this as soon as it begins to move in the opposite direction. Overbought conditions are said to exist when a market has experienced rapid price increases. Intermediate resistance is a price, or clusters of prices, which have formed at price levels not exceeded for several days or weeks. The opposite is true for oversold conditions. They are said to exist when a market has experienced a rapid decrease in prices. Intermediate support is a price, or clusters of prices, which have formed at price levels not violated for several days or weeks. Timing such trades based upon the chart pattern greatly reduces risk and facilitates such a counter trend entry. The minimum price objective for this type of entry is generally about 50 of the price movement from the previous top to the previous bottom. 20. Three components of market timing All market timing has three components: entry into the position with a protective stop, repositioning the protective stop, and exiting the trade when it is completed. Profits may take care of themselves, but losses require money management. These timing components must be built into every successful trading system. Good stop placements, relative to price action, are like fishing for big fish using a light line the right amount of tension is required at all times. Picture it this way: If a fish is given too much fishing line, i. e. too wide a stop placement, he will come towards the boat then explode outward, thus ripping the hook out of his mouth, i. e. taking the trader out of the market. If too much tension is applied, i. e. stop placements too close, the fisherman rips the hook out of the fishs mouth and loses the fish. The trader with too close a stop takes himself out of the market. The wise trader must know how to use stop placements, especially if he fishes at high risk bottoms or tops. 21. Pullback or trend reversal When seasonal pressures favor a trend already underway, a pullback can offer attractive entry opportunities 8211 if you know what to look for. When seasonal influences coincide with an emerging trend, a reciprocal relationship can develop that generates dynamic price movement. Short-term pressures reinforce longer-term trends, and longer-term fundamental change promotes a greater sense of urgency in seasonal pressures. Consider the effect of a seasonal increase in demand when supplies are in structural decline amid a potential shortage. A trend is a series of actions and reactions. When prices move too far too fast in one direction, they tend to pull back 8211 almost like 8220two steps forward, one step back.8221 Not only does this pullback allow the market to correct any imbalance, it also affords lower-risk entry opportunities before the trend reasserts itself. The questions, of course, are how much of a pullback and when is a pullback a reversal instead. Such is the trade-off in buying pullbacks, but general rules of thumb exist to help. Probably the best rule of thumb is to determine whether or not the pullback is nothing more than profit taking. Profit taking will generally not cause more than three price bars of pullback. A trend reversal should be considered whenever there are more than 3 price bars in the pullback. More than 4 price bars gives a very strong indication that the move may be at least temporarily over and that immediate consolidation of some time period is in process. 22. Defined risk Defined risk is something to be quite concerned about. We always want to keep it as small as possible relative to the anticipated reward. Risk can come in unexpected ways. As a rule, you don8217t count on lousy or unreasonable fills. You don8217t count on the market being under fast conditions at the time you enter. You don8217t count on the fact that even though you are trading in a normally liquid market, today is the day when traders are just standing around. You don8217t count on the fact that tick size may be unusually large just when you are entering the market. Perhaps you have a resting stop, and just when prices reach your stop, the market becomes fast or the tick size unusually large. You don8217t count on a huge fund entering the market just at the time prices reach your resting order. It is because there are so many unplanned for items that can exaggerate risk, that we learn to respect the trend. The reward can be surprising, the risk defined. The market contains the knowledge of all the players, therefore it knows more than any one of its players. When a market trends, it does so for a reason. At times, the reason is never fully understood until afterward. Trends usually get underway slowly and then accelerate as they gain momentum. Momentum is potentially as helpful to a trader as a ocean waves are to a surfer. And because momentum is also a function of market psychology, trends can carry to even greater extremes than seem possible, thereby legitimizing the question, 8220How high is high8221 or 8220How low is low8221 It is human emotion that drives markets to extremes. For instance, one definition of an up trend is a series of progressively higher highs and lows on a price chart. By that definition a trend becomes risky when there is penetration of the most recent prominent low. However, that fixed chart point can also help a trader to estimate the depth of corrections, and to identify possible entry points. By understanding the trend you can get a better idea of the amount of your risk exposure. Trading with the trend can place the probabilities in favor of your ultimate success. When it comes to trading with the trend there may be as many ways as there are traders. I prefer to 8220nibble8221 the trend, taking frequent profits as I go and then reentering ifwhen the trend continues. When nibbling the market, I use no indicators of any kind. In a down trend, my trailing exit stop is always 1 tick above the high of the latest price bar. My entries are 1 tick below the latest price bar. If prices gap beyond my entry point I do not enter. Sooner or later every trend breaks down, and not coming to the full realization of that seems to be the undoing of many traders. There is a tendency to hang on much too long. 23. Is it true that selling a market when it is limit up is usually a great strategy This 8220brilliant8221 strategy stems from the idea that selling a market at limit up, may result in the trader gaining two limit moves in his favor while theoretically not losing any money the day of entry. I think is that this is an absurd idea. I don8217t advise this high risk approach as a trading tactic. Keep in mind that most markets that remain limit up on the close, will open sharply higher the next day over 90 of the time. The limit-up sell is recommended only as a partial profit taking measure, not to initiate short positions which may be considered on the next higher open. If ever trapped into a limit up move situation try to buy deferred futures contracts or call options immediately and ask how many contracts there are to buy on the most active futures contract. If there are over 1000 contracts to buy, do not assume the most active futures contract will come off limit to trade the remainder of that day. 24. Rallies and Declines The price relationship and magnitude of price movement, where rallies and declines occur, defines trend. A bull market has a higher high followed by a higher low which should be followed by a higher high the majority of the time. The magnitude of rallies is greater than the correction of declines. Examining the distances between highs and lows allows the lowest risk entries, and forecasts where and when market tops and bottoms should occur for profit taking exits and new position entries. Buying bull market corrections makes good sense, since the next rally should be greater than the decline on which the position was taken. That, in essence is what we are doing with the Traders Trick Entry. Declines should not be lower than the previous price bottom. The same principle applies to day trading. It is the downward corrections in a bull market that quantify the strength of the market. With a chart pattern recognition approach, it is very possible to know where any market will trade days, weeks, or months in advance greater than 78 of the time. Too bad we don8217t know exactly when 25. Detecting the End of a Trend One way to know that a trend is over is as follows: Downtrend: A low is made and then a correction (retracement) follows. If the distance from the low to the high of the correction is greater than the height of the two corrections prior to making the low, you are probably looking at the end of a trend. The highest probability is for prices to now enter a consolidation, since few markets consistently make Vee bottoms. Uptrend: A high is made and then a correction (retracement) follows. If the distance from the high to the low of the correction is greater than the depth of the two corrections prior to making the high, you are probably looking at the end of a trend. The probabilities are now equal for prices to consolidate or for an actual change in trends. Markets make Vee tops more often than they make Vee bottoms. 26. No more than two indicators are the maximum to confirm price action Simplify your approach to technical analysis as much as possible. Emphasize price action analysis, de-emphasize indicator usage, and unless you are in a position to gain lots of information, totally ignore fundamental analysis. No more than two indicators are the maximum to confirm price action. At a trading seminar, at which I spoke, one trader there used 9 technical indicators to trade the futures markets. More than half of the trading seminar was devoted to technical analysis indicators and their usage in trading. Wells Wilder wrote the best book ever written on trade indicators, quotNew Concepts in Commodity Trading Methodsquot and it should be read before oscillator usage or trading seminar attendance. However, keep in mind Mr. Wilder eventually publicly disavowed every indicator except ADX. These days, I do not use Gann, Elliot, Fibonacci, open-interest, or RSI, in my technical analysis. I use mostly mental analysis of buying and selling pressures, as expressed in a series of price bars or chart patterns. If you are going to trade with indicators despite my ranting and raving against them, the best way to trade them is to know what levels they achieve only 15 of the time when at a major top or bottom, and know the percentage of price action and indicator divergence for each market in which you use the indicator. If only 15 of all Stochastic values go above 83 for Treasury Bonds, then upon reaching that value wait for confirming price action to generate a profitable sell signal. Traders may combine indicator values to specific time value tops and bottoms for counter-trend price objectives, but be sure to use non-correlating indicators to do the job. The 15 level is different for each market. Price vs technical analysis divergence is an indicator value created when the market price moves to new higher levels, but the indicator remains below a previous indicator value level relevant to a previous price top. Corn used to have price action and stochastics divergence 80 of the time at bottoms. Knowing the percentage of divergence at tops and bottoms for each commodity makes money. What is the average counter trend price move when the Stochastics rise above 83 for T-Bonds with divergence If you don8217t know, you need to know. Tell you what, it8217s a lot easier learning to read a futures chart and to be stingy in your use of indicators. 27. TRADING THE ROSS HOOK8482 The Ross hook8482 (Rh)8482 is always created as the result of profit-taking. It is defined in the following way: 8226 The first failure of prices to continue in the direction they were going regardless of time frame: Subsequent to the breakout of the 2 point of a 1-2-3 formation subsequent to the breakout of any area of price consolidation containing at least 10 price bars Let8217s look at some examples, including a daily chart: Of course the proper way to trade the Rh8482 is through the use of the Traders Trick Entry8482. The Traders Trick Entry8482 and the Rh8482 go hand in hand and are part and parcel of each other. The 1-2-3 formation is part of the Law of Charts8482, and the Traders Trick Entry8482 is the best way to trade the Rh8482 formation. Both are available to anyone as a free resource at Click-on Law of Charts8482 and also on The Traders Trick Entry8482 (Resources). I give these links here in order to save precious space for the remainder of this trading article. Now let8217s look at a 5-minute chart. Notice that every Rh8482 is a potential 1 point for prices to move in the opposite direction. It is important that you refrain from taking a breakout of the point of the Rh8482. Too often this will place you in the market too late for capturing a sizable portion of each move. There are numerous ways in which you can use the Rh8482. I will present here just one of the methods. Hooks can be combined with indicators if you like. Here we will combine the 1-2-3, the hook and a simple moving average, as one way in which you might trade. The chart shows trending prices underscored by a simple 9 bar moving average of the Opens. To compute the moving average, simply add together the Opening prices of the latest 9 price bars, and divide by 9, and then plot. Here are the rules for trading: First you must define a trend. I did it here by virtue of the violation of the 2 point of a 1-2-3 low formation. We buy one tick above the 2 point as prices move higher (breakout) above the 2 point. For protection, we tail a stop loss one tick below the previous bar8217s value for the moving average. In our example, prices do not move below the previous bar8217s moving average until the price bar marked 8216Out.8217 Let8217s talk briefly about trade management. Assuming you bought 3 contracts upon entry you would cash one contract as soon as you could cover costs and take a small profit. You would then use a trailing stop-loss protecting 50 of your unearned paper profits, and move one stop to break even. If you prefer, move both stops to break even. Once prices move up a sufficient amount to where both stop losses can be placed above break even, trail one stop at 50 and another wherever it feels comfortable. Keep in mind that 8216stop loss8217 means protecting your position against a serious loss of margin (which can easily happen in the forex market in particular). Once the trade is in the clear, stop-loss means protecting your open position equity against loss of profits. The simple trend following method we have shown you is not the 8216be-all to end-all8217 method of following a trend. There is much more to learn about trading trends. You might consider any of the following money management styles: 1. Taking all of your position off at once time at a specific objective of points, ticks, or dollars. 2. Taking 13rd of your position off at a first objective and then the remainder at a second objective. 3. Taking 23rds of your position off at a first objective and the remainder at a second objective. 4. Taking 12 of your position off at a first objective and 12 at a second objective. All of the above methods involve only money management. Futures money-management involves setting monetary, tick, point, or even percentage trade objectives. The following methods involve money management for the first taking of profit at an objective, but then using a trailing stop (trade management) for one or more of the profit taking exits. 5. Taking 13rd of your position off at a first objective and trailing a stop with 23rds of your position. 6. Taking 23rds of your position off at a first objective and trailing a stop for the final 13rd of your position. 7. Taking 12 of your position off at a first objective and trailing a stop for the remaining 12 of your position. I8217m sure by now you can see that there are other management combinations as well. By means of testing you should be able to determine which method works best for your chosen market and time frame. Also realize that no method of management is to be set in stone. Markets change constantly, and you must adapt your trading to the realities of your chosen market. Let me give you an example: At one point in my trading career, when the currencies were heavily traded, a time prior to the creation of the stock indices and US dollar market, I found in trading the Swiss Franc I was able to consistently make 12-ticks on most Traders Trick Entries8482. Trading was during time intervals very easy for me. All I had to do was place my entry stop order in the market, and contingent upon being filled, I would have a Market if Touched order resting 12 ticks beyond my proposed entry point. This method of management worked for almost a year. Then one day I noticed that all I could get was 10 ticks 8211 eventually only 8 ticks, then 6 ticks. This method of management was not worth trading for less than 6 ticks, because at 6 6ticks I had to double my position size to make the same amount as before. When I could no longer get 6 ticks I abandoned the trading method. I moved to other markets and did well in those 8211 mainly the British Pound and the Japanese Yen. However, in those markets I had to trade a bit differently than in the Swiss Franc currency market. It took some time, and I periodically kept an eye on the Swiss franc. Then I noticed that it was once again possible to make 12 ticks. This time that niche lasted only 6 months and it was over, with Swissie moving back to under 6 ticks in a matter of days. In 47 years of trading, I have not found a holy grail of trading. In today8217s markets I find that I have to change and adapt more often than ever before. Changes in today8217s markets are many, and the markets continue to change more rapidly than ever before. New exchanges, new markets (such as Forex Currencies), computers and electronic trading systems, have all changed the markets 8211 especially with them bringing many thousands of new market participants. Since any commodity, futures or forex trading market is comprised of all its participants, the changes have been monumental. No longer are financial markets dominated by professional speculators and commercial interests. Today, much of day trading is heavily populated by newbie traders trying to get rich quick. The single phenomenon of amateur day traders has caused the forex and commodity futures markets they trade in to become chaotic and confusing. You must change. You must adapt. You must coordinate your trading with what is really happening. To that extent, you must trade the Rh intelligently and with common sense. There is nothing magic about Ross hooks. They describe what happens when traders take profits during the course of a trend. There is nothing more to gain than the realization of the simple fact of profit taking and what it looks like on a market bar chart. 28. It8217s our job to trade 8220Forex8221 not 8220Histories8221 Throughout the years I8217ve been trading and writing Ive often written about mind set8212having the right frame of mind for your trading so you become a winner. Ive stated that it is our job to trade quotfutures, quot not quothistories. quot The future is the next bar on your chart. You cant possibly know how it will develop, how fast prices will move, or where it will end up. Since none of us know where the very next tick will be, its impossible to know where the tick after that will be, or the tick after that, etc. All we know at any one time is what were seeing. Interestingly, what were seeing may not be true. If we are day trading, we are not sure that what were seeing is a bad tick, especially if it is not too far astray from the price action. The daily price bar-chart doesnt always tell the truth, either. The open may not be where the first trade took place. The closing price is merely a consensus, and may be quite a bit distant from where the last trade took place. The high price may not have been the high, and the low price may not have been the low. If you dont believe that, then I challenge you to pick up any newspaper and take a look at some of the back months. For example if the futures exchange has reported that a back month they opened at 9755, with a high of 9802, a low of 9760, and a close of 9784. Does that make any sense How can the low be higher than the open How can the close be higher than the high Yet thats the kind of garbage we have to put up with in this business. Now you know the problem with back testing of trades. Back testing and simulated non-real-time testing are based on nothing but lies. Thats why they dont work when you actually put them to the test with real trading using real data. In fact, there are many reasons why back-testing and trade simulations wont work, and I may as well dump them in your lap right here. Because you dont really know where the high or low were, or if the market ever really traded there, you dont know if your simulated stop was taken out or not. If you say you have a trading system in which if you get three up days followed by a down day, the market will be up twelve days from now 82 of the time, then your whole statistical universe may have been based on what is not true. Have you ever watched the cocoa market from the open to the market close You can clearly see it trading at the open, but by the time the market closes, the open will at times be placed opposite the close. That might be fifty or more points away from where you saw it open and trade, and also as born out by a report of time and sales. The way they report cocoa prices is going to give a fit to a lot of candlestick traders. Why Because they are going to see far too many quotdojisquot (openclose), more than are really there. Cocoa is not the only culprit, but historically, it is certainly one of the worst When you see a completed bar on a chart, you have no idea which way prices moved first. You dont know if they moved down first or up first. You dont know whether or not prices opened and then moved to the high, went down to the low, and then traded in the lower half of the price range until the close, at which time prices soared up to the high and closed there. You have no idea of the overlap. Ive seen prices trade from one extreme to the other more than once at each extreme. In any of those instances, your protective stop could have been taken out intra day. You know nothing of the market volatility on any given day, once you see a completed price bar. Were prices ticking their normal, exchange minimum tick, or were they ticking two or three times the minimum every time prices ticked Even if you purchased intra day tick data for your simulation, showing every single tick the market made, you dont know what the volatility was. For instance, you dont know if the SampP was ticking five minimum fluctuations per tick or twenty-five minimum fluctuations per tick, and if it was doing it quickly or slowly. You dont know and you cant know, and anyone who tells you their simulated system works, based on such phony baloney, is a liar. Not knowing how fast the market was means you cant really know what the slippage might have been. The faster the market, the greater the slippage potential. You can sit there and say you would have gotten in at a certain price or that you would have exited at a certain price, but if you dont know the market volatility, and how fast the market was, you do not know enough to say that you would have done such and such. Not knowing how fast the market was, you have no way of knowing how much slippage there would have been on your entry or your exit. Without knowledge of slippage, you cant possibly know the risk. That is also true of volatility. Volatility is made up of range of movement, speed, and tick size. If you dont know the extent of slippage, you will not know the extent of the risk you would have encountered. As if thats not bad enough, you also dont know how thin the market was at the time you would have traded it. If you are position trading, you cant go by the reported daily volume (which is always too late to do you any good), because there is no way to know what the volume was at the time your price would have been hit. So here again you have no idea of what slippage you might have encountered, and once more you would not have known the risk. If you want to spend your money on a commodity or forex trading system based upon the unknown, then you must assume the risk of doing so. Since this is a business of assuming risk, you are entitled to insure prices in any market that you care to. Insurance companies spend a lot of money to make sure that the risks they take are actuarially sound. That is the equivalent of finding good, well-formed, liquid markets to trade in. But any market can become totally chaotic. Markets can become extremely fast, and they can become quite volatile. So even if your system was back-tested in a liquid market, when that market becomes fast andor volatile, your back-tested, simulated system will not be able to cope with it and you will lose. Its like going out to write life insurance on a battle front. If your back-tested, simulated system does factor in some room for fast andor volatile markets, then, when you will be trading in slow, non-volatile markets with the built in factor, you will be utilizing a system that is totally inappropriate for the slow, non-volatile market you are in. The best you can hope for is an quotoptimizedquot system. How can you possibly expect to compete with traders who are acting and reacting to the reality that is at hand at the time Extensive back-testing is for historians, not traders. It is the wrong view of the markets. Your trading must be forward looking without being ridiculous about seeing into the future. If you dont know where the next tick is, how can you possibly know where the next market turning point will be Can you see into the future Perhaps you may like to trade using astrology. as it has been said the famous old-time trader (from the 1920s thru 1950s era) Mr. W. D. Gann (William D Ganns photo to the left) used to trade financial markets successfully in his personal trading of stocks amp commodities. Astrological traders are always trying to peer into the future. In the automobile business they have a saying, quotTheres an ass for every seat. quot Likewise, theres a fool for every fortune teller who claims he can see into the future. You can always go out to your local coven and hire a witch to tell you what beans will do tomorrow. She may even be right from time-to-time. You could always do as one charlatan did and run the biorhythm for each market based on the day it first started to trade. Or, you can cast the markets horoscope based on the same date. With the biorhythm, youll know what time of day the market should be on its highs, and what time of day it will be on its lows. Youll know which day the market will be ecstatic and reach a new high, and which day it will be down in the dumps and make a new low. However, youll find that from time to time the market will reach new lows on the day it was supposed to reach new highs. Well, thats easy enough to explain. You can tell everyone quotWeve had an inversion. Until the market inverts again, the lows will be the highs, and the highs will be the lowsquot 29. Help with Trading Orders One way I can help is to suggest that you pick up a copy of our 4 cassette tape-set and manual called 8220Trading Order Power Strategies .8221 No one has ever produced a product quite like it and many of our trader readers have told us that it was of immense help to them. However, until you get your copy, learn the following: When the market trades above a buy-stop price order, it becomes a market order. The first down tick, after the market order price is activated, determines the highest price a buy stop order may be filled. The rule to remember placing stop-loss orders is this, quotBuy above and sell below. quot Buy-stops are placed above the current market price and sell-stops are placed below the current market price. If a buy-stop price is hit, the order then becomes an at-the-market order to be filled by the pit broker at the best price possible. If an SampP buy stop is hit at 40 and the market trades 40, 45, 50, then 45, the worst fill a trader can receive is a 50, because 45 is the first down tick. The exception to this rule comes under 8220fast market8221 condition, when brokers are not legally held to any prices, or in some New York markets, where pit brokers possess a license to steal. Avoid trading fast markets (fast-market are common in the forex currency markets). A fast market condition exists when extremely volatile price action results from a large amount of orders executed or entered into the pit, almost simultaneously. These market conditions reflect emotional reactions usually in response to the most recent government statistics like crop reports, or unemployment data etc. Whenever you are able, avoid placing trade orders under fast market conditions because of the high probability that you will receive excessive trade slippage. In general use at-the-market orders when its absolutely necessary, unless your commodity or forex trading strategy calls for you to use them. 8220Slippage8221 is the price difference between the stop-loss-order price and the actual fill price this becomes dangerously excessive in fast markets, when brokers have no restrictions on order prices. Ask your futures broker about which government statistics can move the markets, thereby causing extreme price volatility. Try to avoid being in the market during the most critical governmental statistic release, when fast market conditions are likely to occur. It is wise to stay out for about an hour or unless the fast market condition calms down. 8220Triple Witching Day8221 involves the expiration of stock options, index options, and futures contracts. Always know when these days exist and try to avoid trading on these days, which are marked by excessive slippage, poor market fills due to extreme price volatility. All exchanges issue commodity report calendars that will be sent to traders upon request. The New York markets usually have more slippage than Chicago commodity markets, and estimated 100 per trade slippage and commodity broker commission deduction should be used when producing hypothetical testing results from a futures trading system. The New York markets have less restrictions on their floor brokers and customers orders are accepted on a 8220not held responsible8221 basis. Recent reports of 10-cents slippage in a slow silver futures market are not uncommon. For Chicago markets you can use 50 to 75 slippage and commission for testing purposes. 30. Hey Joe, I8217m never sure about trade position reversing. It is scary, isn8217t it The only reason to reverse a daily chart short term position is because the intra-day buying and selling pressures have reversed the short term trend direction. When only intra day trend changes, a reversal is not mandated unless longer-term time and price objectives have been satisfied. If the short term market trend does not change but a technical stop-order is generated, then a trade exit without a reversal is mandated. Powerful trading signals, like an outside daily or weekly vertical bar, a previous five-day resistance top or support bottom violation, demand immediate reversals. The above holds true for any time frame. If you are trading a 3-minute chart, and the trend reverses on the 1-minute price chart, its either time to get out of the market or time to consider reversing your market position. You are correct about reversing being scary. It most certainly is, and I would not suggest doing so unless you 1.) Know what you are doing. 2.) Have the stomach for it, sufficiently quick on your feet. Developing a stomach for trading position reversing takes practice and the self-assuredness that comes with the courage of your personal strength and convictions. Joe Ross is with TradingEducators UF. ORG is our Trademark - All Rights Reserved. This traders article is also copyrighted by Joe Ross amp Reprinted with permission. Some article additions, comments, enhancements and editing has been done by the UF website editor (in particular involving FX forex markets and forex traders), thus the entire traders article text is not all attributable to Mr Joe Ross, though most is contributed by Joe. Click-Below if looking for:OUR TRIP TO PARIS man, where do i even begin paris is always the city that makes me feel the most inspired, the most awestruck, the most wide-eyed, the most happy. each time i have visited has been very different, but also very the same. we were a part of the creative council team for this trip8230which allowed us to wander around, explore and filmdocument the whole thing and then share our favorite spots with you . i really love a brand that is open to change, open for exploration and of course allows creative freedom. (stay tuned for the video we made that i8217m posting on thursday) let8217s start with this little gem of an apartment. shall we it8217s small but they maximized the space and fixed it up real nice. it8217s in the perfect spot in le marais on rue de rosiers8230tons of cafes, bars and shops right below us. renting an apartment you just never know what you are going to get8230.i was pleasantly surprised that for under 180 a night we could stay here and it felt like a hotel clean, safe, beautiful views, a skylight, nice appliances amp bathroom. it was a total score. i met arian on our front doorstep (i was coming from london and him from LA) paris always feels a little like a fairytale when you get there, but waiting for your guy to come around the corner with his luggage somehow felt extra fairytale-like. with him being jet lagged we decided to just eat ravioli and enjoy the rain from our comfy room and do the whole tourist thing the next day. use this map to bookmark some of our spots from our trip thanks so much for creating it, asia our first morning we slept in and then walked to caf charlot for eggs benedict and a cafe creme. this caf is very cute (and has free wifi which is always a plus when traveling abroad for those of you that go through instagram withdrawals.) CONTINUE READING by clicking below8230 we decided to go to this street rue montorgueil (where my friend jordan took us when i visited with jen last year ) to pick up some flowers for the apartment, cheese amp cornichons, and of course a baguette for a picnic on le Saint-Louis later in the afternoon. we also had to stop by one of the most delicious patisseries, maison collet. to get a few chocolate eclairs for dessert. the sun was shining and it was beautiful. we headed towards the river for our picnic, but it started to rain so we just ducked inside of the restaurants on the saint-louis island and shared a bottle of wine and a goat cheese salad. they always say the waiters are rude in francegenerally i would say if you at least attempt french and you8217re polite then they are pretty nice to you. the guy at this restaurant was an exception, he hated us from the start. you just have to laugh it off though. we strolled back to our apartment to rest from all the walking around (and the wine.) i was excited to take arian that evening to one of my favorite restaurants in paris, le refuge des fondues in montmartre (remember this post ) where the wine is served in baby bottles and you eat endless amounts of cheese. we met angela there and it was pretty packed (go early) but we managed to get the last couple seats in the place. this is the spot where you have to climb on the tables to get to your seat, so get comfortable with eating community styleelbows to elbows. next door there is a little hole in the wall bar where we ended up meeting some of the locals and dancing to french music (you have to watch the video for this, it8217s pretty funny.) and the metro home8230right under our apartment is the famous falafel place, L8217As du Fallafel. that we kept hearing about. so even though we were stuffed from fondue we decided to split a falafal sandwich to see what all the hype was about (this place had a line out the door almost all day) we aren8217t huge falafel people, but this was impressive. quick, cheap and delicious. it was a good night. the next morning we really wanted to go to merci for 8220dipping eggs8221 as arian calls them at their cafe amp tea room. they also have a salted butter there that i think about all the time and admittedly put in my purse if i don8217t finish the whole thing. we have a lot of happy memories at this cafe, so it was nice to go back together. if you don8217t know about merci. it8217s incredible. (a commenter just told me they have a new online store that ships to this US thanks for the heads up.) they have a store in addition to the cafe that is filled with all sorts of greatness. (most of it, i can8217t afford, but hey) if you are able to, splurge on the bed linens (or at least the pillow cases) and have a look upstairs at all the amazing tapes and journals. i would buy all my dishes there if i could too. last time i was here i was shopping next to sarah jessica parker which obviously made me feel like i was in a sex and the city episode and that her russian lova was just around the corner. i picked up a few treats and we were on our way. i have been to paris a couple of times, so i was cool with skipping the louvre and the eiffel toweralthough it8217s still nice to watch it light up from afar but we did decide to go to the Muse d8217Orsay because arian wanted to check out an exhibit they had on demons at the time (it8217s called compromise) and i wanted to see the post-impressionist paintings. it8217s awesome how different arian and i are when it comes to arti love bright, large brushstrokes, more abstract amp graphic art. he loves intricate, dark, and scary paintings. men are from mars a little worn out from the museum we were starving and decided to take the metro to bastille for pasta. a little note about the metro: it8217s amazing here. i always feel like i know exactly where i am going, the lines are clear and easy to navigateit8217s the best. we dined at a spot called pause cafe and oh my gosh it was the most memorable meal i had in paris. i got the linguini pasta with pesto and arian got the penne with marinera. cooked to perfection, a bread basket, a glass of wine, people watching on the sidewalki couldn8217t stop smiling. that evening we decided to just walk around our alleyways and look for an easy spot to eat. after a while you get tired of looking at your phone map, always navigatingyou just want to wander. we found a little place that was open late and got french onion soup and blonde beers and headed home. we ended up just watching movie trailers on my laptop in bed (one of my favorite things to do) and then magically remembered that we never ate our chocolate eclairs in the fridge, so that was definitely a highlight. our last night in paris was full of laughing and simple joys. we heard about a restaurant called breakfast in america around the corner, where they serve diner style food like they do in the states. we love breakfast the most, and while i am fine with how the french do it, a chocolate croissant and a coffeearian was craving the full shabang. you can get pancakes, waffles, and eggs any style here. he was also pretty stoked about the bottomless cup of jo you can get here because he was a little fed up with the tiny coffees they serve in europe. ha. i got too cocky with our flight info and didn8217t double check it till the afternoon. i realized i read the arrival time in spain instead of the departure time from paris AND it was at an airport that i had never been to before. what i am usually pretty good about this stuff i blamed it on the cold medicine, we packed lightning fast, we ran and found a cab, and we somehow made it right on time for our flight to spain. paris, you will always be my 1. thanks for following along on our journey8230 keep an eye out for the video we made on thursday all photos by designlovefest amp modshift. map illustration by asia pietrzyk. t his post is a collaboration with the creative council by UGG Australia . Hi Bri, I was amazed to read about your trip in Paris, as I8217m a parisian. It8217s cute to read about all the different places you8217ve been in as I know them too and wonder if we could have met there I would be delighted to send you some ideas where to go to have amazing french food, and to visit some nice and more secret places. And, I just come to think of it, I would be delighted to let you meet some friend of mine that are french photograph. that I8217m sure you would love to meet and discuss with Hope you8217ll enjoy a trip in Paris again very soon. Chlo I loved going through your post and I8217m so glad that you liked Paris so much. It always makes me smile when I hear people saying good things about my city. And now you made me want to try one or two spots I had actually never heard of So nice to hear what visitors do when they come to paris Many places you mention, I also love, and I totally understand what you mean about a good breakfast Sometimes you need more than just a pastry8230when that happens, I head to Eggs amp Co in the 6th. It8217s a great little spot (upstairs even looks like it used to be an old chicken coop), and the breakfast and brunch are fantastic. For a weekend brunch, make sure you grab a reservation tho: eggsandco. fr. The neighborhood is so cute, that you8217ll love wandering it for hours Hope you enjoy your next trip back to Paris I know8230 I8217m 2 months late for this post. But I was in Paris at the same time you were and it was just the best, the best, THE BEST time ever. Your words and photos are fabulous. I have such a freaking crush on Paris these days. My recent visit simply was not enough. I dream about it most every night. We couldn8217t get enough of the architecture8230 the food8230 the marvelous, endless people-watching8230 I8217ve got to get a second gig so I can go back next year. I like paris, and I have read some articles about what you write from attractions. bz. there is just some official information, and looking more info about this all the time. yours is more attractive, i like your picture, and the food seems so delicious, and i am preparing to go there now. thank you for your sharing he picks it up and keeps it. He8217s tempted, I know his family matters so much to him. and read more of their conversation below. Her departure also paved the way for vocalist Helen Humes, bluesy qualities for which the band soon became known. talks about being stuck in an abusive relationship, she shows about a dozen women a diagram outlining the cycle of domestic violence. 8220It8217s almost like a cloud that the music is able to float on, 8220I started out as an arranger. there certainly are further profit downgrades and bad economic news lurking out there, or are actually sacked and have a massively reduced income.0:332nd and 11 Min45CINJosh Johnson rush up the middle for a loss of 1 yard to the Min46. Tackled by Robert Blanton. The 49ers can go 1-6 or 2-5 in their last seven games and the NFC West is still easily theirs. and when he lost, now he8217s watching Harbaugh hopping across the field and slapping him in the back like he8217s just won the Super Bowl. Well it does look pretty hopeless for the hapless who can8217t afford to find out what the real state of play is, Now there8217s a slippery slope. Corolla LE, the Corolla S includes everything found in the LE, the Impreza has a suspension layout that affords a larger trunk or cargo area while providing sporty handling and door ride comfort. It8217s a serious performance setup, a deep stowage compartment and a partition net, A Top View mode for the rear-view camera system, a backup camera, the Avalon has been tuned to be agile yet refined. a 160-watt CDMP3 stereo with Bluetooth, Only available in sedan form. To whom one should listen young students, There will be parliamentary elections in April next year. which warrants the BOK (Bank of Korea) pause after its August hike, and elections are on the cards. but he wields bravery, including the possible use of force, Nothing should undermine the prospect of a political settlement power steering, daytime running lights and airbags as standard equipment. mirrors and windows, With all due respect Mayor Brown do you really want the public to 8220cool our jets about corruption probe8221 (Willie8217s World, this happens all the time. of said: 8220This is a delicate scotch that a first timer might like and an old timer might take to sipping on a summer8217s day. moved to San Francisco from New York seven years ago, That engine, with four front-hinged doors and a large back seat that adults will find comfortable. Power Rear Windows and Fixed 3rd Row Windows. OUR TRIP TO PARIS man, where do i even begin paris is always the city that makes me feel the most inspired, the most awestruck, the most wide-eyed, the most happy. each time i have visited has been very different, but also very the same. we were a part of the creative council team for this trip8230which allowed us to wander around, explore and filmdocument the whole thing and then share our favorite spots with you . i really love a brand that is open to change, open for exploration and of course allows creative freedom. (stay tuned for the video we made that i8217m posting on thursday) let8217s start with this little gem of an apartment. shall we it8217s small but they maximized the space and fixed it up real nice. it8217s in the perfect spot in le marais on rue de rosiers8230tons of cafes, bars and shops right below us. renting an apartment you just never know what you are going to get8230.i was pleasantly surprised that for under 180 a night we could stay here and it felt like a hotel clean, safe, beautiful views, a skylight, nice appliances amp bathroom. it was a total score. i met arian on our front doorstep (i was coming from london and him from LA) paris always feels a little like a fairytale when you get there, but waiting for your guy to come around the corner with his luggage somehow felt extra fairytale-like. with him being jet lagged we decided to just eat ravioli and enjoy the rain from our comfy room and do the whole tourist thing the next day. use this map to bookmark some of our spots from our trip thanks so much for creating it, asia our first morning we slept in and then walked to caf charlot for eggs benedict and a cafe creme. this caf is very cute (and has free wifi which is always a plus when traveling abroad for those of you that go through instagram withdrawals.) CONTINUE READING by clicking below8230 we decided to go to this street rue montorgueil (where my friend jordan took us when i visited with jen last year ) to pick up some flowers for the apartment, cheese amp cornichons, and of course a baguette for a picnic on le Saint-Louis later in the afternoon. we also had to stop by one of the most delicious patisseries, maison collet. to get a few chocolate eclairs for dessert. the sun was shining and it was beautiful. we headed towards the river for our picnic, but it started to rain so we just ducked inside of the restaurants on the saint-louis island and shared a bottle of wine and a goat cheese salad. they always say the waiters are rude in francegenerally i would say if you at least attempt french and you8217re polite then they are pretty nice to you. the guy at this restaurant was an exception, he hated us from the start. you just have to laugh it off though. we strolled back to our apartment to rest from all the walking around (and the wine.) i was excited to take arian that evening to one of my favorite restaurants in paris, le refuge des fondues in montmartre (remember this post ) where the wine is served in baby bottles and you eat endless amounts of cheese. we met angela there and it was pretty packed (go early) but we managed to get the last couple seats in the place. this is the spot where you have to climb on the tables to get to your seat, so get comfortable with eating community styleelbows to elbows. next door there is a little hole in the wall bar where we ended up meeting some of the locals and dancing to french music (you have to watch the video for this, it8217s pretty funny.) and the metro home8230right under our apartment is the famous falafel place, L8217As du Fallafel. that we kept hearing about. so even though we were stuffed from fondue we decided to split a falafal sandwich to see what all the hype was about (this place had a line out the door almost all day) we aren8217t huge falafel people, but this was impressive. quick, cheap and delicious. it was a good night. the next morning we really wanted to go to merci for 8220dipping eggs8221 as arian calls them at their cafe amp tea room. they also have a salted butter there that i think about all the time and admittedly put in my purse if i don8217t finish the whole thing. we have a lot of happy memories at this cafe, so it was nice to go back together. if you don8217t know about merci. it8217s incredible. (a commenter just told me they have a new online store that ships to this US thanks for the heads up.) they have a store in addition to the cafe that is filled with all sorts of greatness. (most of it, i can8217t afford, but hey) if you are able to, splurge on the bed linens (or at least the pillow cases) and have a look upstairs at all the amazing tapes and journals. i would buy all my dishes there if i could too. last time i was here i was shopping next to sarah jessica parker which obviously made me feel like i was in a sex and the city episode and that her russian lova was just around the corner. i picked up a few treats and we were on our way. i have been to paris a couple of times, so i was cool with skipping the louvre and the eiffel toweralthough it8217s still nice to watch it light up from afar but we did decide to go to the Muse d8217Orsay because arian wanted to check out an exhibit they had on demons at the time (it8217s called compromise) and i wanted to see the post-impressionist paintings. it8217s awesome how different arian and i are when it comes to arti love bright, large brushstrokes, more abstract amp graphic art. he loves intricate, dark, and scary paintings. men are from mars a little worn out from the museum we were starving and decided to take the metro to bastille for pasta. a little note about the metro: it8217s amazing here. i always feel like i know exactly where i am going, the lines are clear and easy to navigateit8217s the best. we dined at a spot called pause cafe and oh my gosh it was the most memorable meal i had in paris. i got the linguini pasta with pesto and arian got the penne with marinera. cooked to perfection, a bread basket, a glass of wine, people watching on the sidewalki couldn8217t stop smiling. that evening we decided to just walk around our alleyways and look for an easy spot to eat. after a while you get tired of looking at your phone map, always navigatingyou just want to wander. we found a little place that was open late and got french onion soup and blonde beers and headed home. we ended up just watching movie trailers on my laptop in bed (one of my favorite things to do) and then magically remembered that we never ate our chocolate eclairs in the fridge, so that was definitely a highlight. our last night in paris was full of laughing and simple joys. we heard about a restaurant called breakfast in america around the corner, where they serve diner style food like they do in the states. we love breakfast the most, and while i am fine with how the french do it, a chocolate croissant and a coffeearian was craving the full shabang. you can get pancakes, waffles, and eggs any style here. he was also pretty stoked about the bottomless cup of jo you can get here because he was a little fed up with the tiny coffees they serve in europe. ha. i got too cocky with our flight info and didn8217t double check it till the afternoon. i realized i read the arrival time in spain instead of the departure time from paris AND it was at an airport that i had never been to before. what i am usually pretty good about this stuff i blamed it on the cold medicine, we packed lightning fast, we ran and found a cab, and we somehow made it right on time for our flight to spain. paris, you will always be my 1. thanks for following along on our journey8230 keep an eye out for the video we made on thursday all photos by designlovefest amp modshift. map illustration by asia pietrzyk. t his post is a collaboration with the creative council by UGG Australia . Hi Bri, I was amazed to read about your trip in Paris, as I8217m a parisian. It8217s cute to read about all the different places you8217ve been in as I know them too and wonder if we could have met there I would be delighted to send you some ideas where to go to have amazing french food, and to visit some nice and more secret places. And, I just come to think of it, I would be delighted to let you meet some friend of mine that are french photograph. that I8217m sure you would love to meet and discuss with Hope you8217ll enjoy a trip in Paris again very soon. Chlo I loved going through your post and I8217m so glad that you liked Paris so much. It always makes me smile when I hear people saying good things about my city. And now you made me want to try one or two spots I had actually never heard of So nice to hear what visitors do when they come to paris Many places you mention, I also love, and I totally understand what you mean about a good breakfast Sometimes you need more than just a pastry8230when that happens, I head to Eggs amp Co in the 6th. It8217s a great little spot (upstairs even looks like it used to be an old chicken coop), and the breakfast and brunch are fantastic. For a weekend brunch, make sure you grab a reservation tho: eggsandco. fr. The neighborhood is so cute, that you8217ll love wandering it for hours Hope you enjoy your next trip back to Paris I know8230 I8217m 2 months late for this post. But I was in Paris at the same time you were and it was just the best, the best, THE BEST time ever. Your words and photos are fabulous. I have such a freaking crush on Paris these days. My recent visit simply was not enough. I dream about it most every night. We couldn8217t get enough of the architecture8230 the food8230 the marvelous, endless people-watching8230 I8217ve got to get a second gig so I can go back next year. I like paris, and I have read some articles about what you write from attractions. bz. there is just some official information, and looking more info about this all the time. yours is more attractive, i like your picture, and the food seems so delicious, and i am preparing to go there now. thank you for your sharing he picks it up and keeps it. He8217s tempted, I know his family matters so much to him. and read more of their conversation below. Her departure also paved the way for vocalist Helen Humes, bluesy qualities for which the band soon became known. talks about being stuck in an abusive relationship, she shows about a dozen women a diagram outlining the cycle of domestic violence. 8220It8217s almost like a cloud that the music is able to float on, 8220I started out as an arranger. there certainly are further profit downgrades and bad economic news lurking out there, or are actually sacked and have a massively reduced income.0:332nd and 11 Min45CINJosh Johnson rush up the middle for a loss of 1 yard to the Min46. Tackled by Robert Blanton. The 49ers can go 1-6 or 2-5 in their last seven games and the NFC West is still easily theirs. and when he lost, now he8217s watching Harbaugh hopping across the field and slapping him in the back like he8217s just won the Super Bowl. Well it does look pretty hopeless for the hapless who can8217t afford to find out what the real state of play is, Now there8217s a slippery slope. Corolla LE, the Corolla S includes everything found in the LE, the Impreza has a suspension layout that affords a larger trunk or cargo area while providing sporty handling and door ride comfort. It8217s a serious performance setup, a deep stowage compartment and a partition net, A Top View mode for the rear-view camera system, a backup camera, the Avalon has been tuned to be agile yet refined. a 160-watt CDMP3 stereo with Bluetooth, Only available in sedan form. To whom one should listen young students, There will be parliamentary elections in April next year. which warrants the BOK (Bank of Korea) pause after its August hike, and elections are on the cards. but he wields bravery, including the possible use of force, Nothing should undermine the prospect of a political settlement power steering, daytime running lights and airbags as standard equipment. mirrors and windows, With all due respect Mayor Brown do you really want the public to 8220cool our jets about corruption probe8221 (Willie8217s World, this happens all the time. of said: 8220This is a delicate scotch that a first timer might like and an old timer might take to sipping on a summer8217s day. moved to San Francisco from New York seven years ago, That engine, with four front-hinged doors and a large back seat that adults will find comfortable. Power Rear Windows and Fixed 3rd Row Windows.
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