“One man’s ceiling is another man’s floor.”
(Bob Dylan)
A support level is established when a tradable stops declining. A resistance level is likewise set when a rally stops rising.
A look at market movement tells us that price fluctuates between a level of support and a level of resistance. Properly identifying key support and resistance levels can [...]

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The idea that Rich had left out some key ideas was the easiest way for our paranoid Turtle to explain his inability to trade successfully during the program. This is a common problem in trading and in life. Many people blame their failure on others or on circumstances outside their control. They fail and then [...]

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The currency (foreign exchange) market is the largest and oldest financial market in the world. It is also called the foreign exchange market, or “FOREX” or “FX” market for short. It is the biggest and most liquid market in the world, and it is traded mainly through the 24 hour-a-day inter-bank currency market – the [...]

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This is an Excel spreadsheet. It calculates the low and high, pivot point, and resistance and support points for the current trading session, based on the open, high, low, and close of the preceding session. All you have to do is input the open, high, low, and close (no decimal points) and click on any [...]

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The primary goal of trading should be to stay in the game. Time is on your side. A system or method with positive expectation eventually will make you rich, sometimes beyond your wildest dreams. This can happen only if you can continue trading. For traders, death comes in two forms: a slow painful death that [...]

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This is my favourite indicator. If you want to fully understand its use, please refer to www.tradingsmarts.com/macdindicator.htm. That page will tell you all you really need to know about this truly powerful indicator.
It is important in forex trading, as in other forms of trading, that you use MACD in different time frames to get a [...]

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When you use retail spot forex software, it only requires an internet connection to trade real-time. No extra data-feed is required. All online forex brokers’ software is real-time, rather than delayed.
If you download a free 30-day demo of the software, you can “practice trade” in real-time with the exact same quotes as a live account. [...]

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Traders deal in risk. There are many types of risk, and for each type of risk there is a corresponding type of trader. For the purposes of this article, we divide all those smaller risk categories into two major groups: liquidity risk and price risk.
Many traders—perhaps most of them—are very short-term operators who trade in [...]

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Day trading is not so much a style as it is a reference to the extremely short-term time frames involved. A true day trader looks to exit the market before it closes each day. This makes his or her position less susceptible to large adverse moves spurred by news occurring overnight. Day traders generally use [...]

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Dos and Don’ts for Thinking Forex Like a Turtle

Trade in the present: Do not dwell on the past or try to predict the future.The former is counterproductive, and the latter is impossible.
Think in terms of probabilities, not prediction: Instead of trying to be right by predicting the market, focus on methods in which the probabilities [...]

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