Welcome to another issue of Traderwave Weekly, a trading newsletter where I curate the most useful trading articles on the internet to share with you.
Hope you will enjoy all these fabulous reads and apply those knowledge along your journey to become a proficient and profitable trader!
Price action trading is a methodology that makes use of actual price movement of an instrument to make trading decisions.
It is one of the purest and vital form of technical analysis.
However, as it is a very base level form of analysis, it is not as straight forward as interpreting other technical tools like technical indicators and overlays.
Thankfully, this great article summarises the key elements of price action trading into 10 easy to understand tips that you can read and familiarise yourself with.
Once you are familiar with the basics, you can deep dive into the various aspects of price action trading to learn how to apply them on its own.
Do you know that many of the biggest losers in trading are not retail traders but professional traders?
And they are often those “professional traders” who worked on trading desks, hedge funds or financial institutes.
Just because they are the so-called professional traders does not mean that they are always profitable and invincible.
In fact, many of the high profile blow-ups were caused by the so-called professional traders.
And you might be surprised what could be the biggest reason why these professional traders blow up their trading accounts.
The vital reason is that they have poor risk management practices.
Want to learn how to avoid these professional trader’s mistakes? Read on to find out more!
TRADING BEST PRACTICES
Many traders, regardless whether they are amateur or experienced traders like to hang out in traders chatroom to exchange ideas.
If you know what you are doing, this can actually be a good environment to learn and progress together as a team.
However, if you are in the chatroom for the wrong reasons, I assure you that you are just accelerating your fall as a losing trader.
In this article, the author shares about the good things and bad things about hanging around trading chatroom and what are the key things you need to be aware of to make sure you do not go down the slippery path in the usage of trading chatroom.
If you are participating actively in chatroom, please pause and read this article right now to educate yourself.
If you find these articles I’ve shared useful, do share them with your friends by clicking the sharing buttons!