Here is a reprint article on one person’s report on the rules of successful wealthy traders: 1. They plan every single trade. EVERY SINGLE ONE. Every trader I’ve talked with that makes money consistently knows the following about every single trade they take before they even begin entering a limit order into their trading platform: [...]
Blue Point Trading has put together a trader coaching programme for the newbie trader. New traders, in the sense that there are many freely (some at a charge) available training websites explaining all the basic market mechanics, technical indicators and basic chart patterns – our goal is not to repeat this good information, but rather [...]
The forward trend scalp trigger. For this trigger you should select a 5, 10 or 15 minute chart, with a 10 period moving average. Trades should only be taken in the direction of this 10 peiod moving average. The following is how the trade sets up: 1. Find a bar that completes with at least [...]
Ever have a bad trading day? Are you a new trader looking for the trigger? Sometimes like in sports its good to return to basics and be reminded of chart reading basics. So today lets remind ourselves of the very basic concept of support resistance lines. Support is the level when buyers start buying considering [...]
Have you every considered using other types of charts to help guide you in making trading decisions? I suggest you take a look at the variety of chart options that you may have in your existing charting package. I would like to give you one example of a trading strategy that I often use to [...]
Yesterday’s volume was dismal. It was the lowest volume day of this year as we approach year highs. In fact the volume all through this year long rally has declined as we have gone up. What does this mean? Most believe that this is a sign that this year long rally is not to be [...]
How will you trade the non-farm payroll report (NFP) today? First lets discuss the lead up to the release. It appears that most of the analysts have talk down the numbers and so a bad number has been already discounted. However if the number is really bad then of course it still will affect negatively [...]
Many have come into the Blog chat room and have asked about what they could expect to earn and how much capital you would need to become a full time trader. Obviously this is a question that each trader will need to ask themselves, but I thought I would give you my thoughts on a [...]
Many on the channel have often watch us perform some counter trend trading techniques. We some times call this the “jockstrap” trade strategy. The basic strategy depends on a basic market strategy that markets generally do not move in a straight line and will oscillate in a trend via small Fibonacci re-tracements as it moves [...]
Bluepoint daily market view – July 7, 2010
There are as many trading styles as there are traders. This is because each person has a different knowledge level, energy level, concentration level and risk tolerance level. Of course if everyone traded the same way, the market would not work. So one must look at the kind of person we are and match our [...]