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Miscellaneous

Don’t know what to do? Ask analyst!
CategoryMiscellaneous

Hello everyone! I don’t know how about you, but I still can’t find any logical fundamental explanation for the greenback’s strength against the majors that was witnessed during the recent US session. The reasons offered by analysts at large companies don’t satisfy me. It seems to me they don’t quite get what they are writing about; sometimes that’s complete rubbish. You don’t believe me? Wait for it. On Friday, we had a nice opportunity to see them wrong. Let’s look back and remember the key events of that day.

Champion’s trading, or How to increase your deposit 40-fold in 10 days
CategoryMiscellaneous

Dear friends! For 10 days more than 200 traders have been trying to make Huge Catch and get a lot of profits. Little time has passed, but some of the participants have already managed to prove themselves and substantially raise their start-up capital. For example, the leader of the standings increased the initial deposit by 40 times! Perhaps you will say it’s a glitch because for the vast majority it requires more than a year to achieve such results. And you are absolutely right! If trading through classical capital management, then it will take at least 5 years to make $200,000out of $5,000.

Post-trade analysis: story of a trade
CategoryMiscellaneous

Dear friends, I always repeat that to become a professional trader, you should analyze your deals to find mistakes and learn from them. Today, I am going to look in detail at a movement of GBP/USD, a rather popular currency pair, during the period from March 30 to April 8, 2016.  All comments are numbered and put on the chart.

1. On March 30, during a re-test of the extreme point, taking into account a bullish divergence, I decided to open a sell deal with the target levels of 1.4060 and 1.3850. The order was put into the breakeven zone after the price hit a new low at the level of 1.4377.

Grail found?
CategoryMiscellaneous

Beware of Greeks bearing gifts.

Edwin Lefevre, Reminiscences of a Stock Operator
CategoryMiscellaneous

I interviewed over 30 renowned contemporary investors asking them the same several questions. In particular, I was interested whether they can point out the book which made a profound impact on them and which is highly recommended to novice traders. The most of the interviewees mentioned Reminiscences of a Stock Operator, the book published in 1923.

What makes the book timeless? Specifics of a securities trader’s mindset, errors, lessons learned from trading experience, and epiphanies are described with utmost accuracy. From my viewpoint, this accuracy appeals to people. 

Dragobrat skiing resort
CategoryMiscellaneous

Friends, if you have never been in mountains in winter, be sure to plan a trip to Dragobrat, a skiing resort in Ukraine. It offers a variety of pistes either for training or freeriding. Even if you are not going to ski or snowboard, the Carpathian Mountains are still worth visiting for their amazing atmosphere. As I promised, I post pictures of the pistes and spectacular scenery of the mountains.

Beware of swindlers!
CategoryMiscellaneous

Dear friends,

Yesterday, I came across some curious reviews, which contain detailed descriptions of swindling schemes invented by 24fx.com. After reading the reviews, I was staggered by audacity of the broker’s personnel and naiveté of their clients. Let me cite one of the claims that seems the most informative to me. 

Hi! I’m Maxim.

I got hooked by this company in October 2014. Previously, they had been annoying me with phone calls. They proposed opening an account with them and making deals by their recommendations. I rejected it for long and finally gave up. On October 5, I deposited $500. My balance almost doubled in a few days. My broker introduced himself as Eduard.

Wolfe Waves (Bill Wolfe)
CategoryMiscellaneous

Wolfe Waves is a book written by Bill Wolfe, a practicing trader. In his book you can find a detailed description of the strategy that suggests using of waves formed during a correctional movement.

The author defines the main idea of this trading method in the following way:

“The theory of my Wave structure is based on a law of physics that for every action there is an equal and opposite reaction. This action/reaction often shows a definite rhythm with extremely valuable projecting capabilities to the trained eye.

Street Smarts: High Probability Short-Term Trading Strategies by Laurence A. Connors, Linda Bradford Raschke
CategoryMiscellaneous

The main secret behind efficient trading is the ability to listen to markets and follow a trend. Every successful trader is conscious that it is essential to develop a consistent and sensible trading strategy. Only a logical and elaborate strategy can bear fruit. 

The book is written by the two trading practitioners who are ready to share their views on the market. In the book, you will find a variety of trading systems/strategies and detailed guidance on a market entry/exit. In my opinion, the authors composed the book in an original style. It is a dialogue between professional traders who expand on many issues that novice traders have to deal with. 

Comprehensive Course on the Wave Principle (A.J. Frost and Robert Prechter Jr.)
CategoryMiscellaneous

The Elliott Wave principle is considered to be the best instrument to analyze the market and forecast its behavior. Most market participants successfully use the principle to make investments or perform deals. In 1984, Robert Prechter, one of the authors of the course, won the US Trading Championship trading on a live account and set a record of the 444% return. However, no one has managed to beat this record yet. Reading the course you can assess fundamental and forecasting value of the Elliott Wave principle.