SMPTrader

SMPTrader

SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Trading Journal Basics 101 During my trading career one of the most important elements of trading is keeping records of your trading performance. Whether its using an excel document or software such as the EDGEWONK TRADING JOURNAL, its crucial to see where you business has come from and where its going!! Below is a small...

SMPTrader

SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Trading Entry and Exit checklists Over the past 18 years of trading, it has been a crucial step in my development to constantly critique myself and my trading strategy. I constantly monitor my performance on a daily, weekly,monthly,quartley and yearly timeframe. Listed below is a small simple example of some of the...

SMPTrader

SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Creating your own Trading Strategy "In finance, a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets".Whats your Trading Plan/Strategy? Some of the questions you need to ask yourself when creating your own strategy are as follows; How much time during...

SMPTrader

SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Van Tharp “When you understand what’s involved in winning, as do professional gamblers, you’ll tend to bet more during a winning streak and less during a losing streak. However, the average person does exactly the opposite: he or she bets more after a series of losses and less after a series of wins.” Over the 18 years of...

SMPTrader

SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Basic Technical Analysis Interpreting the candlestick This type of chart is an extension of the bar chart and is actively utilised by the investors in China for more than 500 years of time period. It helps in providing the information regarding open, close, low and high in the dimensional format. It can be seen...

SMPTrader

SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Money Management/Psychology Cycle of Market Emotions The Upturn • Optimism: The normal financial specialist enters the market feeling hopeful. They may likewise have elevated requirements for the profits in which they are involved. • Excitement: When the market goes up, the desires begin to end up noticeably a...

SMPTrader Updated 

Chart Time frame - 4 Hourly Timeframe - 1-2 weeks Actions on - A – Activating Event Currency Pair creating a Double Top B – Beliefs Market will be rejected at 1.3154 level and move towards the Target 1 level @ 1.277 Trade Management Entered @ 1.3154 Stop Loss @ 1.3195 Target 1 1.277

SMPTrader Updated 

Chart Time frame - 4 Hourly Trade Timeframe - 1-2 weeks Actions on - A – Activating Event Currency Pair creating a Double Top B – Beliefs Market will be rejected at 1.317 level and move towards the Target 1 level @ 1.277 Trade Management Entered @ 1.3154 Stop Loss @ 1.3193 Target 1 1.277 /Users/benjaminwright/Desktop/Screen Shot 2018-11-08 at 20.15.03.png

SMPTrader Updated 

Timeframe - 1-2 weeks Actions on - A – Activating Event Currency Pair creating a Double Top B – Beliefs Market will be rejected at 82.900 level and move towards the Target 1 level @ 81.500 level or even further towards the 78.800 Trade Management Entered @ 82.93 Stop Loss @ 83.3 Target 1 81.500 Target 2 78.800 Stop loss changes Trailing Loss...