Category Archives for Free Forex Trading Lessons

Why I Ditched Technical Indicators (And Why You Should Too)

technical-indicators

Technical indicators are no doubt a favorite topic in the financial markets. They can range from a simple moving average to a complex array of algorithms. It doesn’t matter whether you’re trading stocks, commodities, futures or any other market; technical indicators are a common theme. Useful? Well, that’s another matter entirely. But of all the […]

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How to Profit From the Head and Shoulders Pattern (And Avoid Common Mistakes)

head-and-shoulders-pattern

The head and shoulders pattern is by far my favorite way to trade reversals in the Forex market. They don’t come around often but when they do the profits can be considerable. It isn’t abnormal to see moves of 500 pips or greater from these patterns. We’ll take a look at one that formed on […]

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3 Forex Candlestick Patterns That’ll Boost Your Trading Profits

forex-candlestick-patterns

Last Updated November 11, 2016 There is a special section in every good price action trader’s toolbox reserved for Forex candlestick patterns, and for good reason. Aside from technical chart patterns such as the head and shoulders or bull and bear flags, these candlesticks can offer you a chance to understand the sentiment that’s driving […]

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Trading the Broadening Wedge: Your Start to Profit Guide

broadening-wedge-pattern-profits

The broadening wedge is a mysterious pattern. While it can be extremely profitable if correctly executed, it can easily play tricks on you if you aren’t careful. One possible explanation for this trickery is that it occurs less frequently than its sibling, the narrowing wedge. Therefore our minds aren’t as conditioned to spot these formations much […]

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How to Use Fibonacci Retracement to Spot Market Tops and Bottoms

fibonacci_retracement

Last Updated October 25, 2016 You’re probably familiar with Fibonacci retracement. Whether you use it as a compliment to another strategy or to confirm key levels, chances are you’ve worked with it in some manner. However, I can all but guarantee that you haven’t used it in the way I’m about to show you. The […]

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The 3-Step Approach to Forex Money Management and Risk Control

Forex money management strategy and risk control plan

Creating a Forex money management strategy and risk control plan doesn’t have to be a difficult task. In fact, it’s one of the easier things you can do to protect your trading capital. Despite this truth, it’s often overcomplicated to the point that most traders fail to create a proper strategy. This is a huge […]

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False Breakout Strategy: A Simple Yet Powerful Approach

False breakout strategy for Forex traders

Consider the following scenario. You’ve had EURUSD on your watch list for weeks. More specifically, you’ve been waiting for a break below a key support level to take advantage of the selloff that’s sure to follow. After three weeks of practicing saint-like patience and unshakable discipline, the Euro finally sells off against the US dollar […]

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3 Crazy Simple Ways to Trade Impulsive and Corrective Waves

Paper boat in waves

When it comes to Elliott Wave Theory, you either understand it, or you don’t, there is no in between. In the same way, those who understand it either find value in it or they don’t. Having been a student of the financial markets since 2002, I can tell you I don’t subscribe to Elliott Wave […]

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How to Identify and Exploit Sloping Flag Patterns for Profit

sloping_flag_pattern

Are all flag patterns created equal? Sure, they can come in different shapes and sizes, but as far as how to trade them, a flag is a flag, right? Not exactly. For the most part, these patterns represent a continuation of the current trend. So if the market is trending higher and forms a flag, […]

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5 Trading Mistakes That Are Killing Your Profits + Simple Fixes

Man looking disappointed after making mistakes

The key to understanding why the markets move the way they do is being able to identify and understand chart patterns. Once you can do this, you can trade any instrument in any market. It’s that simple, at least from a technical standpoint. Why then do the majority of Forex traders fail to generate consistent […]

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Equidistant Channels: Awesome Way to Find “Hidden” Targets

Equidistant channels are arguably the most common technical structure found in the Forex market. Not only that but they are, in my experience, one of the most lucrative to trade. As a price action trader, the amount of profit you generate over the course of your career is dependent upon your ability to identify (and successfully […]

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3 Powerful Techniques to Determine Trend Strength (No Indicators)

Every trader wants to know how to identify trends and determine their relative strength. It’s what allows us to trade with momentum rather than against it, which in turn increases the odds of a favorable outcome. Unfortunately, gauging the strength of a trend isn’t as straightforward a task as some would hope. Let me rephrase […]

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5 Brilliantly Simple Ways to Book More Trading Profits

Man holding out cash

Is it knowing when to get in or knowing when to get out of a trade that makes becoming a successful Forex trader such a challenging endeavor? I would argue that both are equally important. These two elements, among many others, need to work in harmony if you want to grow your trading account. But as […]

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The Only 3 Forex Chart Patterns You Need (and Why I Love Them)

There are a million ways to make money in the Forex market. The key to success in this business is not finding one that works, it’s finding one that works for you. While I started out in 2007 trading nothing but pin bars and inside bars, my “style” today is quite different. Put simply, the […]

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How Volatility Can Destroy Your Technical Analysis

misdirected_technical_analysis

Technical analysis is a blend of an art and a science. It cannot be one without the other. While its inner-workings are somewhat of a mystery, one thing we do know is that it relies on market perception. A pattern or level that stands out as obvious to one experienced trader is likely obvious to […]

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