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Saturday, April 30, 2016

Weekly Trading Forecasts on Major Pairs (May 2 - 6, 2016)

Here’s the market outlook for the week:
                                          
EURUSD
Dominant bias: Bullish
The EURUSD moved upwards 230 pips last week – an action that has resulted in a Bullish Confirmation Pattern in the 4-hour chart. The resistance line at 1.1450 has been tested and it would be breached to the upside, as price targets other resistance lines at 1.1500 and 1.1550. However, the month of May 2016 would be challenging for bulls because EUR would be weak in some cases. There is an exception of course, like EURAUD, because AUD would be weak against other currencies in May.   

USDCHF
Dominant bias: Bearish
This pair merely went in the opposite direction to EURUSD. Price dropped 220 pips and later closed below the resistance level at 0.9600. There is now a bearish outlook on the market and further southwards movement is possible this week, Bears might push the pair towards the support lines at 0.9550 and 0.9500. There cannot be a reversal of this bearish movement unless there is a serious weakness in EURUSD.        

GBPUSD
Dominant bias: Bullish
GBPUSD was able to rally gradually last week, reaching the distribution territory at 1.4650. Bulls fought desperately at the distribution territory at 1.4600; only to meet another strong opposition at the distribution territory at 1.4650. Bulls should be able to overcome the opposition at this distribution territory, owing to the bullish outlook on GBPUSD (and most other GBP pairs like GBPAUD and GBPNZD) for the month of May 2016. Price would move up further by 200 pips this week.  

USDJPY
Dominant bias: Bearish
This currency trading instrument went sideways from Monday to Wednesday, and then dropped like a stone on Thursday. Price dropped by 500 pips, closing below the supply level at 106.50. There has been a bearish signal in the market, including other JPY pairs. This bearish movement is supposed to continue this week as price action is characterized by lower highs and lower lows.  Short-term rallies can be taken as short-selling opportunities.         
                                                                                                                               
EURJPY
Dominant bias: Bearish
Just as it was mentioned in the last forecast, EURJPY cross first trudged upwards from April 25 to 27, and then plummeted. The drop was significant enough to overturn the recent bullish gains, causing a Bearish Confirmation Pattern to form in the market. Price has gone below the supply zones at 124.00, 123.00 and 122.00, reaching out for the demand zones beneath them. The outlook on JPY pairs is bearish for the month of May. Therefore, long trades do not make sense here until there is a strong bullish reversal in the market: something that may take place before the end of May.      

This forecast is concluded with the quote below:

"The goal of a successful trader is to make the best trades. Money is secondary." – Dr. Alexander Elder



 What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html


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Thursday, April 28, 2016

Toni Hansen: An Indispensable Sage of the Markets

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 7

Of all of the lies my traders tell themselves, the one that shows up the most frequently is “I don’t think I can do this.” – Louise Bedford 

Name: Toni Hansen
Nationality: American
Occupation: Full-time trader and mentor
Website: Tonihansen.com

ADRRESING THE TOUGHEST TRADING QUESTIONS    
A respected technical analyst and full-time trader with decent profits from weak and strong markets, Toni started her career as an equity swing trader, after which she mastered other types of financial markets. She has crafted ways to tackle stocks, futures, options, ETFs and Forex, surviving uptrend, downtrend and equilibrium phases in the markets. 

She’s spoken at many trade shows and expos. She’s contributed to Real Money Pro, CME Group, Active Trader, Money Show, Trading View, etc.

Toni has always traded and coached many professionals in various fields of financial industry, including other people outside the financial industry. She quotes other great traders in her writings.

Please check her website. Tonihansen.com is rich with very helpful trading articles, insights, lessons and courses, which can help beginner, professional and advanced traders. For example, you can get a one-stop shop for in-depth lessons on introduction to technical analysis, candlestick charting, trends, indicators, fear and greed, money management, advanced courses on trends, various ways of determining resistance and support, Fibonacci levels, market reversals, selecting your trading style, and so on.

Giving answers that work, Toni has also made bold attempts to address the toughest questions in trading, such as:

Which type of market analysis will I employ?
Which markets should I focus on?
Which strategies should I use for trading?
Which time frame should be my primary focus? Etc.

What You Need to Know:
In order to have a taste of insightful tips and lessons Toni has to offer traders, please read the article below. The article was taken from her website and the link is located at: Tonihansen.com/trading-lessons.html#traits 

8 Traits of a Successful Trader
The market is an ever-changing entity, each day presenting us with different and unique scenarios with no two days every the same. Nevertheless, the market is more or less a reflection of people's ideas and attitudes and while it is also true that no two people are alike, each and every one of us has something in common with someone else, whether it’s the way we get out of bed in the morning or the foods we prefer to eat. Additionally, we tend to repeat actions, such as preferring to brush our teeth at a certain time of day or making sure we try to catch the Thursday night prime time television shows. No matter which angle you look at it from, humans are creatures of habit and this tendency gets reflected in a security’s price movement. It's what makes technical analysis a reliable and profitable method for analyzing the market.

Unfortunately, technical analysis is not always cut and dry. The same core pattern does not work the same way in every market environment. For instance, one of the setups I often look for on a daily chart is a 3-5 day pullback in an uptrending stock for buying opportunities. Where newer traders tend to get in trouble, however, is taking such a setup to mean that every time an uptrending stock pulls back 3-5 days and then breaks the previous day's highs that it means they should buy it. In reality, there are always exceptions and its learning what these are that can be the dividing line between those traders who are successful and those who fail. In this example, how a security pulls back in a primary uptrend, as well as overall market conditions, will greatly influence whether taking such a pullback as a long is really worth the risk to reward. In some cases it is not.

The ability to adjust to changing market circumstances is just one of the traits of a successful trader. In truth though, there are quite a few. Over the years I’ve mentored quite a few traders. Many succeeded, but many of the traders I have spoken with over the years have failed. I have observed a number of traits which are present in those who succeed. Some of the top traits of successful traders are as follows:

1. Staying Neutral
You're probably wondering away just what do I mean by “staying neutral.” When you are chatting with your trading buddies online or reading a message board and all you hear are how the market maker or specialist is out to get them, or how one minute they are a market god and the next they have what is certifiably the worst luck in the entire world, then you are dealing with a trader that is NOT staying neutral! They are letting each trade or each trading day rule their emotions and this pressure builds upon itself, making it very difficult to succeed.

The professionals don't let the day to day oscillations in their accounts faze them. The results of one day of trading, or even a few weeks or a month are not as important to them as the average over time. Among most of the professional traders I know, you cannot tell by their mere appearance whether or not they had a great day in the market or if they lost. Sure, they may tell you one way or the other.

We are not robots devoid of all emotion after all, but when we leave the market for the day after a difficult session, we are able to disassociate it from the rest of the world and don’t spend the rest of the day complaining or moping around the house thinking that entire world must be out to get us. Similarly, on a great day, we do not call up every person we can think of and tell them how we rule the market universe. Extreme emotional responses either way will often lead to greater difficulty in the market since emotions take over from reason and can often override it, making it difficult to remain objective.

2. Have business Plan
Most successful traders also have a business plan. As in any other profession, it’s important to know what it entails in order to succeed. As in any business, this consists of a set of rules or guidelines to help keep the trader on track and from making decisions purely on a whim.

Would you open a restaurant without a plan? No, or at least I really hope that you wouldn’t! A new restaurant owner must take into account the type of cuisine they wish to serve, the d├ęcor of the restaurant, the hours of operation, to whom they are catering as clientele, etc.

As in the restaurant business, traders must also have a business plan. A partial list of the questions you should be asking yourself and including in your trading plan are as follows:

How must time will you spend study and trading?
What techniques and strategies you will focus on?
What are the expenses involved in becoming a trader?
What is your maximum loss limit, not only per position, but on your account as a whole?
What are your objectives?
etc...

The more comprehensive your plan is, the better. You can always go back and change it, modifying it to suit your development as a trader. I find that it is very helpful, for instance, to go back and read over my techniques and goals whenever I am in a slump and my progress has stalled. It helps me maintain the right frame of mind so that I can push forward.

3. Keep a Journal
One of the first questions I ask any of my new clients is whether or not they have a trading journal, and if you, what does it consist of.

Most traders don’t even have a journal. Those that do have one typically keep it in a spreadsheet format. This offers very few insights into a trader’s personal style and strengths and weaknesses. Some things to consider when developing a trading journal are:

What techniques were used in locating the position?
Did you follow your entry, stop and exit criteria?
What pros and cons did the setup have?
What, if anything could you have done better and what are you most proud of?

It is also important to print out a chart of your trade. Mark both the entry and exit on the chart. If necessary, print it out on several time frames to show the details of the position.

4. Focus on Several Techniques that Work Well
Let’s take a minute to look at a typical college student. What kind of person majors in general studies? Unless they go on to focus on a specific occupation in graduate school or law school, etc., well-paying jobs will be hard to find for most of these students upon graduation. Instead, for those who focus their studies in one field, and more specially, one subdivision of that field, demand for their skills will be much higher. If you focus on just a few techniques, it allows you to really become an expert on the technique you are using. Great traders have several strategies that are their bread and butter plays and they will focus on them for as long as the market conditions favor them.

Remember: The jack of all trades and master of none is usually a low-paid, unskilled worker.

5. Being a Great Money Manager
Great traders are also great risk managers. They respect the risks they are taking and on each trade they risk a small amount of capital. Usually this is 1/4% to 1% per position (and no more than 2%). The idea is that you can't trade tomorrow if you blow out today and if you can't trade you won't be a great trader, now will you?

Great traders protect their accounts. It's their baby. Each position is so small they don't really care what happens with it. It's just a nick... win, lose, or draw. So, if they have a 200K account and are risking 1/4% on each trade, if they take a stop they are out $500. That's a very small amount of money compared to the account. They can take a couple of hits and still be in the game.

6. Being Comfortable with Risk and Uncertainty
The sixth trait of great traders is that they are comfortable with risk. Let's face it, trading is certainly risky and if you are afraid of the risk you won't last. If you are afraid you will lose money, then I can say with near-certainty that you will.

Great traders are comfortable trading a pattern that is not a 100% sure-thing, because there simply is no such thing. Many new traders have a terrible time with this: the uncertainty of a trade, but you must overcome it. It is very easy to allow yourself to become frozen with fear over the risks and uncertainties of trading. Great traders get beyond it.

7. Accepting Personal Responsibility
Great traders accept personal responsibility for everything they do, even to an extreme. If I loan you $100 and you never pay me back, then yes, perhaps you are not a very honorable person, but I also made a poor choice to lend you the money in the first place. I made that choice, however, and I must accept personal responsibility for that action.

The same concept applies to trading. Many traders, lacking the expertise and confidence to make all their own decisions to begin with, will rely upon others for advice. The input may come from CNBC or it may come from a newsletter service or trading chatroom or message board. It doesn’t matter where you get the original idea from, it is still up to you to implement it or not and you have the due diligence to stand behind your decisions and make them your own, whether they succeed or fail.

8. Using Risk Capital to Trade
Finally, great traders use risk capital. This should be obvious. They trade with money they can afford to lose. It is very difficult to trade well if you are worrying about paying your mortgage or putting food on the table. I’ve also seen a number of traders over the years take out equity loans to open a trading account. You are supposed to be limiting your risk and outside stressors, not adding to them if you wish to succeed. If you think you can be one of the exceptions, then you should really think again!

Trading with risk capital frees up your mind. It lets you trade and not worry about every little stop you have. You can just focus on trading correctly instead of trying to force yourself to meet certain financial needs. They say scared money never wins. Well, I have yet to see a person who has no other source of income or savings make a living off their $5,000 trading account.

Many of these traits may take a bit of time to acquire. Overcoming the fear of loss, for instance, haunts many, but by focusing upon these traits and characteristics, my hope is that you may model your own frame of mind to those who have come before you and have made the leap to a successful and long-lasting career in the markets. It is said that the majority of successful people in the world became such by following in the footsteps of others, their mentors. Even if you do not have one specific person in mind, familiarizing oneself with the traits of those whom have succeeded before you is a great place to begin!

Conclusion: Many traders have dreams but they don’t act on those dreams. Even when they act, it’s usually one or two attempts, for they give up quickly as soon as they run into difficulties. As far as they’re concerned, there’s nothing like persistence. They think successful traders are successful only because they’re lucky to have easy methods of profitability. NO. Ask successful traders, and they’ll tell you how long or how many years it takes them to achieve consistency in the markets. They’re not luckier than you: they’re only more persistent than you.

This piece is ended with a quote from Toni:

“Knowledge is power. This is as true in trading as any other area of life. Those who don’t know will eventually give their money to those who do know. In this industry we have 90% of the money going to 10% of the players. Do you want to be part of that 10%?”



What Super Traders Don’t Want You To Know: Super Traders


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Trading Signals for JPY Pairs (April 28 – May 20, 2016)


USDJPY = Sell

AUDJPY = Sell

CADJPY = Sell

CHFJPY = Sell

EURJPY = Sell

GBPJPY = Sell

NZDJPY = Sell

NB: Every trade could be entered with a stop loss of 100 pips and a take profit of 200 pips. Only 0.5% is risked per trade. With an account balance of $20,000, a position size of 0.1 lots would be used. The breakeven stop is set after about 70-pip profit is made. A trailing stop of 100 pips is set after over 170 pips have been gained. You need to use your technical analysis to know when to enter, since you may want to trade a pair only after your entry criteria have been met.

Disclaimer: Trading signals are provided for information purposes only and shouldn’t be construed as trading advice.


What Super Traders Don’t Want You To Know: Super Traders


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Tuesday, April 26, 2016

Outsourcery – Panic Selling Begins

Serious panic selling has already started on Outsourcery shares (LSE:OUT). The price has become bearish since January 2016 before it gapped down this week, going further southwards as it gathers momentum.

The ADX period 14 is almost at the level 40, showing a great stamina in the ongoing trend. The DM- is vividly below the DM+, meaning that the bulls are being dominated by the bears. The MACD default parameters, has both its histogram and signal lines above the zero line. Further bearish movement is expected because there is a Bearish Confirmation Pattern in the chart.

The panic selling on Outsourcery shares are supposed to continue. Bulls would be slashed more and more.  

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

What Super Traders Don’t Want You To Know: Super Traders

Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng


There Is a Sell Signal on Forbidden Technologies

Forbidden Technologies stock (LSE:FBT) has a sell signal on it, which would aid further bearish movement in the market. The current price action does not support long trades.

The price is under the EMA 21 and the Williams’ % Range period 20 is in the oversold region. A closer look at the price shows that long trades do not currently make a logical sense on Forbidden Technologies.

Further bearish movement may take the price towards the support levels at 8.000, 78.500 and 77.000 within the next several months.


Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

What Super Traders Don’t Want You To Know: Super Traders


Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng


Sunday, April 24, 2016

Daily analysis of major pairs for April 25, 2016

As it was forecasted at the beginning of last week, GBP was able to rally against some majors, as witnessed on GBP/CHF, GBP/NZD, EUR/GBP, GBP/JPY, etc. GBP/USD was also able to rally last week, starting from the accumulation territory at 1.4150, and reaching the distribution territory at 1.4450. This is a movement of 300 pips, and further bullish journey is possible this week. It is also possible on GPB pairs.  

EUR/USD: The bulls tried seriously to push this pair upwards, but following the volatility we witnessed here last week Thursday, the price came down on Friday. This has resulted in a “sell” signal in the market – further bearish movement is possible this week. But this does not rule out the possibility of an upward bounce, which might not threaten the current “sell” signal unless the resistance level at 1.1450 is overcome buy the bulls. 


USD/CHF: The bears threatened to push the USD/CHF lower, but their effort was thwarted on Wednesday as the price started moving upwards. This has resulted in a Bullish Confirmation Pattern in the market. The price, which closed above the support level at 0.9750, would reach the resistance levels at 0.9800 and 0.9850 this week. The only hindrance to this bullish bias would be an expected rally on the CHF, which might affect CHF pairs. 

GBP/USD: As it was forecasted at the beginning of last week, GBP was able to rally against some majors, as witnessed on GBP/CHF, GBP/NZD, EUR/GBP, GBP/JPY, etc. GBP/USD was also able to rally last week, starting from the accumulation territory at 1.4150, and reaching the distribution territory at 1.4450. This is a movement of 300 pips, and further bullish journey is possible this week. It is also possible on GPB pairs. 

USD/JPY: Following the minor gap down into the demand level at 108.00 at the beginning of last week, this currency trading instrument started a bullish journey, which occurred gradually and gained momentum on Friday, April 22, 2016. The price closed above the demand level at 111.50; poised for further northward movement, which would be at least, 150 pips this week. As an aside, JPY pairs might also be weakened before the end of the month. Please watch JPY pairs. 

EUR/JPY: There is now a Bullish Confirmation Pattern on the EUR/JPY. The price moved upwards by 360 pips last week, and it could move further upwards this week. Short trades are no longer advisable here until there is an indication of bears’ hegemony, which is possible before the end of April 2016.

Performed by Azeez Mustapha,
Analytical expert
InstaForex Companies Group

What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html 


Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng  

Saturday, April 23, 2016

Weekly Trading Forecasts on Major Pairs (April 25 - 29, 2016)

Here’s the market outlook for the week:
                                          
EURUSD
Dominant bias: Bearish
This pair was bearish last week. Bulls tried to push price upwards. But as a result of severe opposition from bears, price came down on Friday, following the volatility that occurred on Thursday. There is a “sell” signal in the market, and it may probably go further downwards this week, reaching the support lines at 1.1200 and 1.1150. Price might even go below these targets, and the “sell” signal would never be invalidated until the resistance line at 1.1400 is overcome.  

USDCHF
Dominant bias: Bullish
The current bullish movement on this pair started on Wednesday, April 20, 2016. This has led to a Bullish Confirmation Pattern in the market, and it is likely that price would continue its bullish movement this week, reaching the resistance levels at 0.9800 and 0.9850. A movement beyond these resistance levels is even possible: though there is one obstacle in the way of USDCHF, and that is an expected strength in CHF before the end of this week. Please watch CHF pairs.      

GBPUSD
Dominant bias: Bullish
As it was mentioned last week, GBP was able to rally against certain majors, which is visible on some crosses like GBPNZD, GBPJPY, GBPCHF, EURGBP, etc. GBPUSD also was bullish last week in spite of desperate struggles of bears against it. From the accumulation territory at 1.4150 the price trended upwards, with some pullbacks on the way, reached the distribution territory at 1.4450, before the market closed on a slight retracement. Price moved upwards by roughly 300 pips last week; plus further northward movement is expected this week. 

USDJPY
Dominant bias: Bullish
USDJPY went upwards by 370 pips last week. At the beginning of last week, price gapped down slightly into the demand level at 108.00, and since then a rally started gradually (from Monday to Thursday). That rally gained momentum on Friday, April 22, 2016, and this has resulted in an invalidation of the recent bearish outlook on the market. The bias is now bullish and further northward movement of at least, 150 pips, is expected this week. One thing must be noted: There is also a possibility of a strong bearish movement on USDJPY (and of course, other JPY pairs) before the end of this week.        
                                                                                                                               
EURJPY
Dominant bias: Bullish
This currency trading instrument also went bullish last week by 360 pips, after price ran into a solid demand zone at 122.00 at the beginning of last week. On Friday, price closed above the demand zone at 125.00, now very close to the supply zone at 125.50. This has rendered the recent bearish outlook on the market useless. The market would continue moving north this week, since there is now a Bullish Confirmation Pattern in the market, but that does not rule out probability00 of a pullback before the end of this month.       

This forecast is concluded with the quote below:

“Markets are a reflection of rational human behavior — whether 5min or monthly chart. This fractal nature of markets is due to humans’ psychological make-up. Until we evolve into a new species, price action will always be the same.” – Gabriel Grammatidis



 What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html

  
Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng













Thursday, April 21, 2016

Meet the Best Traders in the World

 “Although I’ve witnessed uncountable demo contests the world over, these are the most impressive results I’ve ever seen, despite the vagaries of the markets.” – Analyst75

Honestly, my plan for this week was to post an article about Alan Howard, a self-made billionaire trader, in our Master Traders series. Nonetheless, I’d to change my mind and post what you’re reading today, as a result of outstanding results of a just concluded demo contest.

I don’t like to sound like promoting anyone or any firm, but doubting Thomases need to see this. Perhaps they’d admit that trading success is attainable.

A Trading Firm Announces a Demo Contest
In early March 2016, I unexpectedly came across this announcement:

“Get ready to take part in something new... something different! The starting clock is counting down to the first “(company name withheld)” trading competition of 2016... and the prizes are huge!

This is a demo-trading contest because we wanted anyone and everyone to take part... we just decided to make things more interesting by offering bigger prizes than most live-trading competitions. So... if you have ever thought of taking part in a trading competition, then this is the competition to take part in!

Competition entrants will go head-to-head - each trading a $2,500 micro account with 1:400 leverage. There are no restrictions - competitors are free to trade any strategy... whether manual, automated, or both.

Come early, or come late - you will be able to dive in and join the fun right up until April 15th.”

The competition started in March 13, 2016 and ended on the day mentioned in the preceding paragraph. There are no trading/withdrawal restrictions on prize monies. 

When a Broker Doesn’t Impose Restrictions
Let’s be frank here, the kind of broker you use really matters in your trading success. It’s one of the big factors in your profitability as a trader. I hate FIFO rules. I hate restrictions on strategies, like hedging, automation, etc.

I like a broker that doesn’t interfere with trading strategies and styles, no matter what they’re. I like brokers that don’t trade against me or manipulate my traders. I like brokers that don’t impose restrictions on me. Let me use any trading styles I like and be responsible for the outcome.  Professional traders thrive when they’re uninhibited by unfair restrictions. I saw the most impressive results in my life because a trading firm doesn’t impose any restrictions on traders/competitors.

As far as the trading firm which organized the contest is concerned, their demo accounts are almost similar to live accounts. You receive transactions alerts into your inbox as if you were using live accounts.

The Number One Contestant – A Mad Trader
The contest started, and at the end of the first week, the number one guy had turned 2,500 USD to $63,000 USD. By Thursday of the second week of the contest duration, his equity stood at 106,000 USD. On the following day (Friday), his equity reached 109,000 USD; but he suffered a drawdown that day. His equity dropped to 73,000 USD.

I told my boss in the office: “This guy is an exceptionally good trader. Even if the contest ends now, he’s already made an impressive result by turning 2,500 USD to 73,000 USD just in two weeks.”

My boss nodded in agreement.

In the third week of the contest, the top guy raised his equity from 73,000 USD to 79,000 USD. At the end of the third week, the equity stood at 136,000 USD. In the last week, he raised the equity to 666,000 USD.

On April 14, in the afternoon, I showed the result to my boss. The guy’s equity was already 695,000 USD. Three hours later, I was visiting a friend of mine when I checked the contest results, the guy’s equity was then 1,080,000 USD!

I called my boss on phone to inform him. He was too surprised. Early on Friday – the day the contest was to finish – the guy’s equity had been turned to 1,350,000 USD. At the end of the contest, his closed balance was 1,433,480 USD.

Here is more info about the guy’s results:

Contestant name: A.D.
Position: 1st
Opening balance: 2,500 USD
Volume traded: 34,230.80 lots
Number of trades: 316 trades
Final balance 1,433,480 USD
Gains: 57,239.20%
Contest duration: 4 weeks
Prize money: 5,000 USD

The contestant who came second turned 2,500 USD into 741,365 (29,554.60%). The contestant who came third turned 2,500 USD into 713,076 (28,423.04%). All within 4 weeks. I’ll not mention clean results of many other traders in that contest.

Is This Realistic?
Another popular broker in Europe just finished their demo contest on April 15, 2016; the duration was like that of  demo contest detailed here and the person taking the highest position made only 331.78% profits in 4 weeks (though nearly 2500 people registered for the contest).

I can tell you that 331.78% in 4 weeks is an impressive return. But who can argue with 57,239.20% in 4 weeks? It means you could’ve gained at least 57,200 USD in 4 weeks if you invested only 100 USD and got that kind of results in terms of percentage!

Is this realistic? Yes and No.

Yes, because the results are true, and because the trading firm involved allows trading conditions on virtual accounts to be exactly similar to those of live accounts.

No, because contestants used excessive leveraging, which might be too pernicious when trading on real accounts. But I also believe that they would’ve made impressively decent profits even when they risked 1% per trade, using risk control features, and compounding their accounts for one year.

As a professional trader myself, I personally witnessed the vagaries of the markets during the whole contest duration. I witnessed fake-outs, strong trending movements, short-squeezes, false breakouts, reversals, traps, equilibrium phases, random volatility etc. Regardless of these random and unpredictable behavior of the markets, those awesome traders made astounding profits.

Who Is That Mad Genius?
As I said earlier, I’m not advertising anything here. I don’t know the mad genius in person, but I’m a witness to his gargantuan results. I just wanted readers to know that there are talented traders on this planet. I suspect those traders used automated or semi-automated strategies.

The firm that organized the contest might try to interview the top trader or the top three or the top five. I don’t know whether this would be done, but I can guarantee you that if the top trader (that mad guy) is interviewed, the interview would be included in one of my future articles; the Master Traders series.

Conclusion: There are many, many traders who can speculate successfully. If you’re one of those doubting Thomases who think success is impossible in the markets, this article was written to prove you wrong. Can you now see that, while there are losing traders, there are also hugely successful traders? Do you want to be like them? You can be like them if you really want to!

To be candid, I’d no intention of using any link to prove my point, owing to the fact that I don’t want to appear like promoting anything.  On the other side, if I don’t show any links, readers who easily come in and say: “You know that blogger/forumer is a smart liar.” I don’t want to claim something that got no proof.  It’s sad that many readers wouldn’t believe me if I didn’t make any reference. Nevertheless, if you were curious enough, you might want to see the proof here: www.tallinex.com/leaderboard

As from next week, I’ll resume posting my usual articles. This article is ended with the quote below:

“People lose money for various reasons, mostly they are not ready to compete against the best, it is like a five year old playing basketball against a seven footer, people think it is a even playing field, it is not, MOST are BAIT and the few are WHALES, Whale doesn't have to attack any of the bait, whale just opens his mouth and swims. Some of the brightest people come to the markets thinking their brain will overcome experience, I certainly can't bend microwaves, but I know the probabilities of swing distance of ES in first hour of ES. And there are differences when it comes to bending microwaves, YOU are working for someone and I work for myself.” – Handle123 (Source: Elitetrader.com)




What Super Traders Don’t Want You To Know: Super Traders

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Tuesday, April 19, 2016

Jubilee Platinum to Break Down

Jubilee Platinum stock (LSE:JLP) is clearly a rough and volatile market, also caught in an equilibrium phase for the past several months. Right now, there seems to be a breakout to the downside.

The price has gone below the lower Trendline, as the RSI period 14 is below the level 50. This is a “sell” signal and it is possible that the price goes further to test the demand levels at 2.50, 2.00 and 1.50 within the next several months.

Jubilee Platinum has a bearish indication on it and it is possible that the price would go down and down.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

What Super Traders Don’t Want You To Know: Super Traders


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UK Oil & Gas Could Go North

UK Oil and Gas shares (LSE:UKOG) could northward, given the current price action in the market. From December 2015 to January 2016, the market moved sideways. In February, the price trended upwards, only to start coming down from March till now.

In the chart, 4 EMAs are used for the analysis, and they are EMAs 10, 20, 50, and 200. The number that stands for each EMA is shown at the top left part of the chart. It can be seen that the EMAs indicate a bullish outlook, while EMAs 50 and 200 are doing a good job in thwarting bearish threats.

It is likely that UK Oil and Gas could go north, provided the EMA 200 prevents any cross below it, which would result in a Death Cross and indicate further bearish movement. As long as there is no Death Cross, we can safely assume that the price would go up within the next few months.


Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

What Super Traders Don’t Want You To Know: Super Traders


Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng


Sunday, April 17, 2016

Daily analysis of major pairs for April 18, 2016

The EUR/JPY went sideways throughout last week. The market has been caught in an equilibrium phase but, but there would be a breakout this week. The EUR/JPY cross, which closed below the supply zone at 123.00 on Friday, is expected to trend lower this week, reaching the demand zones at 122.00 and 121.50.  

EUR/USD: The bias on this market is getting neutral owing to the consolidation that was witnessed in the last two weeks. Even last week, the price merely got corrected a bit lower. This week, the support lines at 1.1250 and 1.1200 should do a good job in preventing further southwards movement, as the bulls effect a nice rally, which would take the price towards the resistance lines at 1.1400 and 1.1450. Some EUR pairs could also rally this week.  



USD/CHF: Although this pair trended upward last week in the context of a downtrend, there is not yet a Bullish Confirmation Pattern in the chart. In case the price moves further upwards by 150 pips, there would be a confirmed bullish signal in the market. Nonetheless, there is going to be a bearish journey this week, which would strengthen the recent bearish outlook and enable the price to reach the support levels at 0.9600, 0.9650 and 0.9500.

GBP/USD: The Cable was very volatile last week, with no clear victory between the bulls and the bears. There should be a directional movement this week, which would most probably favor the bulls. A wave of rally should carry the price to the distribution territories at 1.4300 and 1.4350 this week. Stamina should also be witnessed on other GBP pairs this week, like GBP/CAD.

USD/JPY: This currency trading instrument moved upwards by 190 pips between Monday and Thursday last week. On Friday, the price, however, got corrected lower in solidarity with the extent bearish bias in the market. Rallies should be seen as short-selling opportunities because the price is expected to trend lower this week.

EUR/JPY: The EUR/JPY went sideways throughout last week. The market has been caught in an equilibrium phase but, but there would be a breakout this week. The EUR/JPY cross, which closed below the supply zone at 123.00 on Friday, is expected to trend lower this week, reaching the demand zones at 122.00 and 121.50. 

Performed by Azeez Mustapha,
Analytical expert
InstaForex Companies Group

What Super Traders Don’t Want You To Know: Super Traders

Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng 


Saturday, April 16, 2016

Weekly Trading Forecasts on Major Pairs (April 18 - 22, 2016)

Here’s the market outlook for the week:
                                          
EURUSD
Dominant bias: Neutral   
EURUSD traded lower last week, testing the support line at 1.1250, to close at 1.1282 on Friday. The movement of the price has essentially been sideways since the beginning of April and there is no significant directional journey till now. However, there is a possibility that bulls would effect a rally this week, which might enable price to reach the resistance lines at 1.1350, 1.1400 and 1.1450. In addition, EUR pairs could be seen strengthening against other majors.

USDCHF
Dominant bias: Bearish
This pair moved upwards last week, in the context of a downtrend. Price tested the support level at 0.9500 and later rose above the support level 0.9650, which means the downtrend is currently being threatened. A movement above the resistance level at 0.9750 would mean the end of the downtrend, but that would probably not happen. The outlook on USD for this week is bearish, and as such, further southward movement could be witnessed before the end of the week, which could cause price to reach the support levels at 0.9600, 0.9550 and 0.9500. This could cause the existing downtrend to be strengthened eventually.    

GBPUSD
Dominant bias: Neutral
The GBPUSD was volatile throughout last week, with neither bulls nor bears having upper hands. There should be a directional movement this week, which would most probably be in favor of bulls. This means the market could rally this week, reaching the distribution territories at 1.4300, 1.4350 and 1.4400. The accumulation territories at 1.4100 and 1.4050 may do a good job in thwarting bearish attempts this week. Some GBP pairs might also rally, like GBPCAD.   

USDJPY
Dominant bias: Bearish
From April 11 to 14, this currency trading instrument trended upwards by 190 pips. On April 15, price got corrected lower, in conjunction with the existing bearish bias. This means the rally that was seen between April 11 and 14 was a mere short-term rally in the context of a downtrend. Further bearish movement is expected this week, which might make price go down by at least 150 pips. Any rallies seen this week should be taken as short-selling opportunities.       
                                                                                                                               
EURJPY
Dominant bias: Bearish
This cross, which dropped steeply in the first week of this month, was caught in an equilibrium phase last week. Price would go out of the equilibrium phase this week, and most likely go further southward, owing to the Bearish Confirmation Pattern in the market. Price closed below the supply zone at 123.00 on Friday. In case price breaks out to the south, the demand zones at 122.00 and 121.50 might be tested. There cannot be a threat to the current Bearish Confirmation Pattern unless the supply zone at 126.00 is overcome.      

This forecast is concluded with the quote below:

“Support and resistance levels are generally more porous in volatile markets. Common sense suggests that, in these conditions, you should give the trade more room.” - Lee Bohl


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Thursday, April 14, 2016

The Markets Aren’t to Blame

“In tutoring others, I realized that most of the people attempting to trade had no idea what the markets were about, and no idea of what they were doing.” – Joe Ross

Helping People Is Almost Impossible
Many people disturb trading pros, begging for help in their trading. They want to learn good trading approaches or principles, which can turn things around for them. You’ll feel their plausible sincerity when they desperate call pros for help. But when the pros offer to help them, giving them useful tips and strategies, you’ll discover that they don’t follow the pros advice.

A Latin American guy was disturbing a pro for a long time (who happened to be his acquaintance), asking for assistance. Later the pro arranged how they’d meet and showed him everything as he himself was doing it, including MM recommendations. To his surprise, the pro later found out that the way the guy traded afterwards was quite contrary to the advice he was given. It was a pure suicide trading. Needless to say, the guy crashed his account and quit trading finally.

In an African country, a newbie travelled to take instruction on how to use a pro’s strategy after hearing that the pro was making money with the strategy. The pro was kind enough to explain everything to him free, but he advised him to first try it on demo to see whether the strategy fit his psychology. On the contrary, the newbie applied the strategy to his live account directly.

In one Asian country, a certain young man who’d been struggling with the market for years later came across a winning trader who offered to help him for free. The winning trader showed him the strategy he was using, plus how to control risk with it. A few weeks later, the winning trader found out that the young man was using too high lot sizes and no stops; contrary to the advice he was given. The winning trader called him on phone, warning him against his dangerous trading style, but the young man refused to change. He’d been lucky so far… Nonetheless, he’d soon be found out in crazy market conditions.

A European bought a positive expectancy strategy but failed to use it as recommended. Someone from North America paid a huge amount to a trading coach, but later he did things that were contrary to what the coach taught him.

In Oceania, a lady was coached via the Internet, but later she simply traded in a manner that was quite contrary to how she was coached.

When people know they’ll still do what they’ll do, why do they seek help in the first place? The answer is simple. Majority of struggling traders are difficult to help.

So let people trade according to their beliefs and psychology and face the positive (or negative) results of their actions, taking responsibility for that. But the truth remains that the market can’t be blamed. Blaming the market is like running after the wind, for it’ll do what it’ll do. The market behaves according to its nature without having you in mind.

In spite of this, you can still achieve success in the markets if you really want it.

Why People Discourage Others from Trading
When people tell you that you can’t do something, what they’re really telling you is that they think you can’t do it because they can’t do it. People aren’t going to do something, and they’d like to tell you the reasons you shouldn’t do it either.

If I was hopeless at math, does that mean others can’t master it? If someone fails at programming, does it mean others can’t do it? If you failed at any challenging endeavor, does that mean others will fail if they try the same thing? 

I remember a tale from “Baro-san” (of Elitetrader):

Driven by hunger, a fox tried to reach some grapes hanging high on the vine but was unable to, although he leaped with all his strength. As he went away, the fox remarked 'Oh, you aren't even ripe yet! I don't need any sour grapes.' People who speak disparagingly of things that they cannot attain would do well to apply this story to themselves.

Those who lose with fundamental analysis say it’s worthless. Those who fail with technical analysis declare it sucks. They can’t do it, and they think nobody can do it. Since I can’t pass an exam so that exam is useless. I find multilevel marketing difficult, and so, it’s impossible to excel at it. I can’t make money from Forex – therefore Forex doesn’t work. 

When people fail at something, they develop hatred for it. They look at their screen and say, “this game is a waste of time.” They can’t stand playing games for profits in an uncertain world; and as a result, they can’t put in the necessary effort, doggedness and resources into achieving trading mastery. This is one of the reasons why trading can’t work for so many people.

Stop Blaming the Markets
The world is rife with people who often blame others for their woes (though some have genuine reasons for doing this). The same thing happens in trading; too many traders blame the markets for adverse circumstances they face, rather than accepting responsibility for their poor results.

When a novice makes money in the early days of their trading career, they childishly think the markets are easy to conquer. It’s the nature of the market to trend up, trend down and consolidate, doing this slowly or fast and furiously. It’s the nature of the market to be choppy, to zigzag or to experience fakeouts. It’s the nature of the market to pretend as though it’s going up or down or consolidating – only to do the opposite. That’s the nature of the market in the past and that’s how it’ll be forever.

The markets aren’t to blame. Despite these acts of the markets, many traders have devised ways to pull consistence profits on monthly, quarterly or annual basis.  Those who blame the market for their woes would hardly make any progress, but those who take responsibility for whatever happens to them would see themselves as the only solution to their trading problems and take steps to solve the problem.

The true test of someone's character isn't how they handle success. It's how they cope with setbacks. When a trade goes against a good trader, she/he shrugs it off and moves to the next trade. Also, when a trade moves in favor of a good trader she/he shrugs it off and moves to the next trade. 

This piece is ended with the quote below:

“In the end, you simply have to learn one thing: You cannot force the market, you can only take what it offers.”  Todd Gordon



What Super Traders Don’t Want You To Know: Super Traders


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Wednesday, April 13, 2016

Xtract Resources to Continue Going Down

Xtract Resources shares (LSE:XTR) should continue going down, and as such long trades do not make any sense in the market.

This is a highly volatile market, and there has been a bearish movement since the beginning of February 2016 till now. Bulls are fighting desperately to push the price upwards, but their effort is being frustrated now and then by bears.

The price is essentially below the EMA 21 and the William’s % Range Period 20 is currently heading downward from the overbought area. The most likely movement Xtract Resources, in the foreseeable future, is a southward movement, making the price to reach the support levels at 0.14, 0.12 and 0.10.


Market Analyst, Trading Signals Provider and Coach

What Super Traders Don’t Want You To Know: Super Traders


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There Is a Pristine Bullish Signal on Premier Oil

There is a pristine “buy” signal on Premier Oil (LSE:PMO), which has formed since the beginning of this month. The price is expected to continue going upwards as revealed by the price action in the chart.

The ADX period 14 is not currently depicting any momentum in the market, but the DM+ is far above the DM-, which means the bulls are having upper hands right now. The MACD default parameters, just has its histogram and signal lines go above the zero line. There is a Bullish Confirmation Pattern in the daily chart.

Premier Oil is supposed, as mentioned before, to continue going upwards. The resistance levels at 80.00, 90.00 and 100.00 would be reached within the next several months.


Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

What Super Traders Don’t Want You To Know: Super Traders


Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng


Sunday, April 10, 2016

Daily analysis of major pairs for April 11, 2016

Since March 29, 2016, the USD/JPY has dropped by 600 pips. Last week, the drop was over 350 pips. There is a strong Bearish Confirmation Pattern in the chart, which would hold out as long as the price continues to journey southwards. This week, bears would target the demand levels at 107.50, 107.00 and 106.50.     

EUR/USD: This pair had a flat movement last week, for the price was unable to close above the resistance line at 1.1450 in spite of forays into it (the resistance line at 1.1400 was also subjected to desperate attacks from the bulls). This week, we would most possibly see the price go above the resistance line at 1.1450, targeting another resistance line at 1.1500. 



USD/CHF: The USD/CHF consolidated throughout last week, not going below the support level at 0.9500. The support level should be broken to the downside, reaching another support level at 0.9000. A breakout would happen this week, which would most probably favor the bears.

GBP/USD: The Cable was highly volatile last week, reaching a high of 1.4319 and a low of 1.4004. The overall bias remains bearish in the near-term, though the bulls are not keeping their fingers crossed this time around. They would most probably effect a rally, which would jeopardize the current bearish bias, especially when the distribution territory at 1.4400 is overcome. This would require a strong rally, which would occur because the outlook on GBP pairs is bright for this week.

USD/JPY: Since March 29, 2016, the USD/JPY has dropped by 600 pips. Last week, the drop was over 350 pips. There is a strong Bearish Confirmation Pattern in the chart, which would hold out as long as the price continues to journey southwards. This week, bears would target the demand levels at 107.50, 107.00 and 106.50.    

EUR/JPY: Last week alone, this cross dropped by over 450 pips, almost testing the demand zone at 122.50. There is a very strong bearish outlook on the market (and of course, other JPY pairs). These bearish movements were anticipated for around the end of the month, but they have started earlier than imagined. Further bearish movement is expected on this cross, except the JPY is weakened considerably.

Performed by Azeez Mustapha,
Analytical expert
InstaForex Companies Group

What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html 


Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng  

Saturday, April 9, 2016

Weekly Trading Forecasts on Major Pairs (April 11 - 15, 2016)

Here’s the market outlook for the week:
                                          
EURUSD
Dominant bias: Bullish   
In the context of a downtrend, EURUSD consolidated throughout last week. One big formidable barrier to further northward journey is the resistance line 1.1400 (though the resistance line at 1.1450 was also tested). Bulls were unable to breach the resistance line at 1.1400 to the upside in spite of many forays into it. This week would be decisive for the pair. First, a breakout to the upside or the downside would happen. It would most probably be to the downside, should bulls fail to push price above the aforementioned resistance line. In case, price goes above the resistance line and remain above it, it would spell a defeat for bears.      

USDCHF
Dominant bias: Bearish
This pair experienced a flat movement last week, not reaching, nor going below the support level at 0.9500 in spite of the fact that the bias is bearish. By the indication in the chart, the market would most likely go further south this week, which would be corroborated by the ability of USDCHF to go below the support level at 0.9500. In case the pair fails to achieve this, a considerable rally would be witnessed.   

GBPUSD
Dominant bias: Bearish  
Cable was very volatile last week – reaching a high of 1.4319 and a low of 1.4004. The overall sentiment is negative, but bulls are not keeping their fingers crossed in this situation, for they are making attempts to effect a rally. One thing should be noted: The possibility of GBP gaining stamina is very high this week. GBP might be seen strengthening versus other major pairs; an event that could start this week. Therefore, the current bearish bias on the market might be challenged and eventually invalidated.  

USDJPY
Dominant bias: Bearish
Since March 29, 2016, USDJPY has dropped by nearly 600 pips. Last week alone, price dropped by at least, 350 pips. This has caused a strong Bearish Confirmation Pattern in the market. After all, it had been forecasted that that JPY pairs might become weak before the end of this month, and the weakness started earlier than anticipated. On USDJPY, bears are still determined to reach the demand levels at 107.50, 107.00 and 106.50.     
                                                                                                                               
EURJPY
Dominant bias: Bearish
This cross dropped 450 pips last week alone, almost testing the demand zone at 122.50.  The shallow northward effort that was witnessed around the end of the weak is cleanly negligible, for price is expected to continue its southwards journey this week, reaching the support zones at 122.50, 122.00 and 121.50. Long trades do not look rational in the market, unless there is a clear sign of Yen easing.       

This forecast is concluded with the quote below:

“When you take action, and make enough trades, the odds may work in your favor, and you'll end up with profits. So as you trade, take an action-oriented approach. As Mark Douglas suggests in "Trading in the Zone," the more you find excuses to avoid making trades, the less likely you'll be at actually taking home profits. But if you look for an edge, and use this edge to make numerous trades, you'll increase your chances of success. In trading, there are proven strategies that work under specific market conditions. If you look hard enough, you'll find them, and use them to your advantage.” – Joe Ross (Source: Tradingeducators.com)



 What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html

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