Michael Marcus is considered to be one of the first people who employed technical trading to their investment strategy. He is famous to have amassed a substantial amount of money relying on his support and resistance levels and trading at a ratio of about 1 to 15, 1 to 30. This means that even if he had 29 losing trades, the 30th would even his account.
Here are some his most noted quotes:
1) Being a successful trader also takes courage: the courage to try, the courage to fail, the courage to succeed, and the courage to keep on going when the going gets tough.
2) Perhaps the most important rule is to hold on to your winners and cut your losers. Both are equally important. If you don’t stay with your winners, you are not going to be able to pay for the losers.
3) I think the leading cause of financial disablement is the belief that you can rely on the experts to help you. Investing requires an intense personal involvement.
4) Every trader has strengths and weakness. Some are good holders of winners, but may hold their losers a little too long. Others may cut their winners a little short, but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.
5) Mathematics is the supreme nostalgia of our time.
Saturday, December 30, 2017
Paul Tudor Jones Quotes
Paul Tudor Jones is considered one of the most successful traders. He is still on the stage running his fund and although he is not generating as big of a return as he used to in his prime, his wisdom remains one of the most profound and essential in the market.
Here are some of his memorable and valuable quotes on trading and investing:
1) The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.
2) Macro-trading requires a high degree of skill, focus and repetition. Life events, such as birth, divorce, death of a loved one and other emotional highs and lows are obstacles to success in this specific field of finance.
3) I believe that great success is possible in any field - from music to mathematics to macro trading.
4) At the end of the day, the most important thing is how good are you at risk control.
5) Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do, you are dead.
6) Markets trend only about 15 percent of the time; the rest of the time they move sideways.
Here are some of his memorable and valuable quotes on trading and investing:
1) The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.
2) Macro-trading requires a high degree of skill, focus and repetition. Life events, such as birth, divorce, death of a loved one and other emotional highs and lows are obstacles to success in this specific field of finance.
3) I believe that great success is possible in any field - from music to mathematics to macro trading.
4) At the end of the day, the most important thing is how good are you at risk control.
5) Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do, you are dead.
6) Markets trend only about 15 percent of the time; the rest of the time they move sideways.
USD/JPY Depreciates
USD/JPY has been trading to the downside for the past week as the pair posted minor losses going from 113.60 to 112.45. The pair appears to still be going into the downside as the medium term sentiment remains bearish.
As the last trading day of the year closed yesterday, price would open at 112.65 to start the new year. Short-term sentiment is bullish with first bull target at level gravitating towards the double top at 113.60. If that level is taken out, USD bulls will try and push price to 114.70.
Above that the medium term trend would be changed from bearish to bullish. However, if the current sentiment continues to drive the price South, we should see the bear push the price towards major short-term goal at 110.80.
Chart: USD/JPY H4
As the last trading day of the year closed yesterday, price would open at 112.65 to start the new year. Short-term sentiment is bullish with first bull target at level gravitating towards the double top at 113.60. If that level is taken out, USD bulls will try and push price to 114.70.
Above that the medium term trend would be changed from bearish to bullish. However, if the current sentiment continues to drive the price South, we should see the bear push the price towards major short-term goal at 110.80.
Chart: USD/JPY H4
Thursday, December 28, 2017
Gold Approaching Resistance
After the significant EUR/USD move to the upside, Gold was the asset that also gained in value in face of a depreciating US dollar. The precious metal is now trading at $1,294, up from $1,236 just two weeks ago.
The increased interest in the safe haven is due to the uncertain economic condition in the US and the latest interest rate. Gold is now faced with the opposition at the psychological level of $1,300 where a lot of Gold bears would jump in attempt to bring the price down. First bear target is seen at $1,275, second - $1,250 and third - $1,235.
If bulls are able to break through resistance we might see Gold shining again with new strength. Major bull target is expected at $1,300 which would then act as major support level.
Chart: XAU/USD H4
The increased interest in the safe haven is due to the uncertain economic condition in the US and the latest interest rate. Gold is now faced with the opposition at the psychological level of $1,300 where a lot of Gold bears would jump in attempt to bring the price down. First bear target is seen at $1,275, second - $1,250 and third - $1,235.
If bulls are able to break through resistance we might see Gold shining again with new strength. Major bull target is expected at $1,300 which would then act as major support level.
Chart: XAU/USD H4
EUR/USD Close To Double Top
The EUR/USD pair is now trading close to double top. The Euro made a strong comeback this year as it went as low as 1.05 and slowly but surely made its way to highs around 1.20. The pair is currently trading at 1.1950 and it appears that it's ready to move further up.
If it reaches 1.1965 this would create a double top and potentially there is a chance that the trend would turn around. However, if the trend persists to the upside due to increased buying momentum, we are to see a break above the double top resistance and a continuation of the upward move.
First bull target is seen at 1.1965, if this is taken over, second bull target is the level at 1.2050 and third bull target is seen at 1.2150. On the other hand, weak buying pressure could expose the pair to uncertain times. First bear target is seen at 1.1730, second bear target is seen at 1.1640 and third bear target rests at 1.1550.
Chart: EUR/USD H4
If it reaches 1.1965 this would create a double top and potentially there is a chance that the trend would turn around. However, if the trend persists to the upside due to increased buying momentum, we are to see a break above the double top resistance and a continuation of the upward move.
First bull target is seen at 1.1965, if this is taken over, second bull target is the level at 1.2050 and third bull target is seen at 1.2150. On the other hand, weak buying pressure could expose the pair to uncertain times. First bear target is seen at 1.1730, second bear target is seen at 1.1640 and third bear target rests at 1.1550.
Chart: EUR/USD H4
Friday, December 22, 2017
ActivTrader Platform
Many traders from all levels experience difficulty trying to find a suitable platform that can match their expectations. Traders should spend a good amount of time researching into platforms so they could make a rational choice which one to pick and why.
This is why ActivTrades has taken care of all traders' needs by providing all-in-one solution with their ActivTrader Platform. It is available for desktop and mobile. East to use platform with wide range of instruments accompanied by advanced charting and many tools to boost your trading experience.
You can open a new account or try a demo for free so you could familiarize yourself with any detail and research into the opportunities the platform present. For all interested, click HERE.
This is why ActivTrades has taken care of all traders' needs by providing all-in-one solution with their ActivTrader Platform. It is available for desktop and mobile. East to use platform with wide range of instruments accompanied by advanced charting and many tools to boost your trading experience.
You can open a new account or try a demo for free so you could familiarize yourself with any detail and research into the opportunities the platform present. For all interested, click HERE.
NZD/CAD Posts New Losses
NZD/CAD is down to 0.8901 in today's trading session after the Canadian dollar posts some gains on relatively bearish news regarding the Canadian economy. Core PMI data released yesterday showed -0.1% missing expectations at 0.3%. However, Core Retail Sales turned out to be double than expected at 0.8%.
The Canadian dollar posted gains against all competitors yesterday and transferred the rally to today. However, in the last few hours CAD has been looking relatively weak and losing some grounds against its peers.
Currently, NZD/CAD is standing at 0.8925, slightly higher than its lowest point earlier today. If the pair continues on the downfall, we could be looking at 0.87 as a major support for short term horizon and 0.8640 as a major support on the medium term horizon.
Chart: NZD/CAD H4
The Canadian dollar posted gains against all competitors yesterday and transferred the rally to today. However, in the last few hours CAD has been looking relatively weak and losing some grounds against its peers.
Currently, NZD/CAD is standing at 0.8925, slightly higher than its lowest point earlier today. If the pair continues on the downfall, we could be looking at 0.87 as a major support for short term horizon and 0.8640 as a major support on the medium term horizon.
Chart: NZD/CAD H4
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