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TradeDirect365.com.au We provide a fair and effective platform for traders. Our aim is to shake up the established players and provide a compelling alternative. Our ASX CFD's trade the same as the underlying share price. Commission is 30% cheaper than IG Markets quoted price (Oct 2013) FX spreads are industry leading - Fixed 24hr 0.8 pip on AUD/USD, EUR/USD USD/JPY (no commission) You will not get requotes or any funny business with us as without the huge marketing budgets of IG and CMC we rely on word of mouth about the quality of execution. All client money is fully segregated with Westpac Bank (Tier1) Only our own company funds are used for hedging. ASIC regulated in Australia. Previous to setting up this business I traded 12 years earning my primary income from trading so I have a better understanding than other providers about traders requirements. If you have any questions about TradeDirect365 or related to CFD's and FX don't hesitate to get in contact with me. (Davin Clarke)
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As markets and stocks move higher and then higher again with very little retracement or sideways corrections the potential for breakout failures increase. Because of the surprise or shock to traders playing the breakout, these failures can produce great opportunities for swing-trading over a few days and even higher odds day-trading opportunities. Let's look at a couple of examples that have happened and some current patterns that may. As with all Pristine trading patterns, understanding the thought process of traders that created the pattern is an important component to having confidence in the play. The breakout failure pattern is an easy one to understand since everyone has been caught in one at some time in the past. But let's review it. As prices are trending higher, traders are waiting for an entry point to get on board the trend. The most popular entry is when prices pullback to a reference point of support. Some traders will use a prior high, a moving average, a percentage of retracement or simply a dollar about. However, when prices move sideways (a very strong tread), rather than retrace, the trader is confronted with the choice of having to buy a breakout. If the breakout results in prices falling back under the breakout bar's low, the unexpected or shock has happened. What are you going to do? Breakouts are high odds trading setups, however, they are best used after the initial start of a move. This could be after the first rally from a bottom phase or it could be a gap-trading setup where the gap was a daily Pro-Gap, followed by prices basing for a period of time intra-day. Breakout failures increase when prices have been trending higher for a long time or have moved too far, too fast. There aren't a lot of these failures happening yet, but there are a couple that I can show you and a few that might result in failures. Last week, Deere (DE) broke out above a several day base and at the time it looked like higher prices were a sure thing. However, the next morning DE gapped well below the breakout bar's low. Can you imagine the shock to traders and fund managers that had bought the breakout the prior day? DE is an example of prices moving too far, too fast. Think about what you would do if you bought DE and it continued to show more weakness. What if you were a fund manager with cash on hand and starting buying a lot more shares of DE, but sellers just kept on dumping, so price barely moved up. Are you feeling it? In the above chart of Castel Crown Intl. (CCI), the daily time frame actually looked good for a breakout to continue. The base was a reasonable length and it was forming at the top of a Bullish Wide Range Bar (+WRB). However, the weekly was up from its base five-weeks in a row. Now, that doesn't always mean the breakout could not have worked, but it was lower odds. That being said, the breakout failed when prices broke under the breakout bar's low. It's shock-time for the breakout traders, what are you and other traders going to do? HCN has been moving up on the weekly time frame since the end of last year, and notice that last week's range was the widest since the move started. In addition, it closed almost at the high of the week; no wick or upper shadow. In other words, buyers were falling over themselves to get these shares after multiple weeks of a straight up run into a weekend. Thinking must be that there is no risk of moving lower. Hum, well maybe that's true and we'll see. Friday, HCN broke out above two bars with equal highs. That was a minor stall of course and not what many would consider a base, but this is what strong trends do. If prices break under Friday's low it will come as a big surprise to those that bought last week. Universal INS Hldgs. (UVE) has had a big run this year and may move higher still, but right now it looks ripe for a breakout failure. Last week's range narrowed after the prior week having had a huge range. That signals that the bullish momentum reached an extreme and then slowed. Buyers of UVE are not expecting a move under Friday's low, so if prices do - the trap will be set. Lastly, here is a chart of the S&P 500 ETF symbol SPY. It also broke out above two prior days with relatively equal highs Friday. Buyers stepped up all day Friday and when there was no pullback mid-day, they scrambled to buy shares right into the close. Notice the size of last week's range compared to the prior ones. If SPY breaks under Friday's low, it will be a shock to those recent buyers and that is likely to bring in sellers short-term. However, it will not change this bullish uptrend simply because the trend will still be up. What I have shown you in this Chart of the Week (COTW) is how to recognize one type of failure/shock pattern. Educated short-term day-traders and swing-traders know how to take advantage of these moves when they happen. If you are holding long in this market for the intermediate-term there is nothing for you to do. That being said, watch to see if there are any breakout failures next week and what happens.
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Good Morning All; Of all the articles I have written, my favorite articles are ones that bring out some of the subtleties of chart patterns that many new traders may miss. But the purpose of this letter, "Eyes", is not to 'teach' technical analysis; that is what our seminars are for. That is why perhaps the most helpful articles, for those that listen, are the ones that talk about how to go about learning the business of trading. Through the Cracks That is correct. The business of trading. It is a business like any other. True, it does not generally involve employees or large facilities for most traders. But it does involve education, planning and preparation. Traders need to be educated in the method of making money in the markets, as well as all of the surrounding concepts that are needed. They need to plan the business in the big picture by opening accounts, allocating money, figuring out living expenses for a period of time, allocating the proper time and money to the new venture, allocating money to initial and ongoing education, as well as many other important issues. Traders also need to prepare for each and every trade by forming trading plans and proper follow up procedures, and the proper research for their trade. Let's take a harder look at the first concept; getting an education in the markets, as well as all of the surrounding concepts that are needed. Deciding what approach is right for you; fundamental or technical, long term or short term or both, using news or not, understanding how to use platforms, how to enter orders, what types of orders should be used, understanding what actually moves prices, and the 'math' of making money. It should seem obvious that everyone would have a handle on all these topics before risking capital in their new business. But experience tells me nothing could be further from the truth. Learning the actual concepts of technical trading is what our Trading the Pristine Method seminar is all about. But that course is about understanding price movement; how prices go through stages, transitions, and how to play those movements to make money. Plus a whole lot more. But many of the other concepts are things traders need to understand but often don't. Many are touched on in seminars, but some are not. It is expected that traders will learn from our free webinars, or from their broker, and maybe some are even in the 'common sense' category. Many important items seem to 'fall through the cracks'. Sitting in the Pristine Method Trading Room, I am often mildly shocked at some of the things that 'experienced' traders ask. To that end, we have created a new course, "Online Trading Essentials". It covers many important topics. If you are looking at a career in the markets, or if you have recently begun pursuing that opportunity, this class is a must. I also feel 'anyone' would enjoy the class. It is free to current clients who have attended a seminar. If you are currently talking to your counselor about becoming a client, see if you can get into the class for free. Paul Lange Vice President of Services Pristine Capital Holdings, Inc.
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n a previous article, I wrote about the true value of paper trading and having a plan of how to move from successful paper trading into real money smoothly. The issue is; now that you are successful on paper, what next? First, as described previously, you must make sure you are successful at paper trading by some objective measure. Set up a test that you must pass. Four winning trades in a row, three out of four winning paper days, or any measure as long as you enforce it. I rarely hear of anyone who is not making a killing on paper. If you cannot do it on paper, do not proceed assuming it will 'all work out'. The next step then is to put a very small amount of money on the line. I mean small. The objective here is to start an 'official' record. Even the most honest people will be 'cheating' while paper trading. Also, you will now be subject to 'real' fills (or lack thereof) rather than your 'pretend' fills. Even real software paper trading systems are very gracious on fills. Also, all those order entry 'mistakes', and trades that you swept under the table will be real now. You will now have to deal with the psychological issues. Putting money on the line, even fifty dollars, will evoke egos that will step in and start changing everything you do. That is why I emphasize, even if you have a million dollar account, the fifty-dollar risk will be enough to make you change what you do. Again, if you do well, you can move your risk amount up. You will be surprised how your paper trading results change when you have a real trade on the table. If you can pass the same 'success' test that you first set up to get you beyond paper trading, then you start moving up the risk amount. One hundred, two hundred, until you get to the objective risk amounts that you have set out in your trading plan. Along the way, if you begin losing you need to go back to the prior risk amount. If you feel you are handling trades different due to the increased risk amount, then go back to the prior level as well. You see, if you follow this plan, it is very hard to lose a significant amount of money while you are learning. That folks is the whole objective. KURT CAPRA Contributing Editor Interactive Trading Room Moderator Instructor and Traders Coach
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I have experience with pair trading, but I heard some online companies now allow you to trade Pair Options. If anyone knows where I can trade Pair options please let me know? :cheers:
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There is so much information available to traders that sometimes I find it overwhelming or even confusing at times. Since the majority of the available and convenient information is in written form, it makes it difficult to ask questions of the author or the website. And if you do, more often than not you never hear back from them, right? And if you do, so much time has passed that you don’t even remember asking the question much less why you asked the question in the first place. Let’s say a trader is not sustaining consistent profits, and his question is “What do I do?” For the answer, you can go to the internet via any number of search engines; you can go to the book store and/or library to find out how to establish consistent profits; you might even go to some seminars and courses to find the answer. If you’re really on top of things, you might even ask your trading mentor. It’s a pretty broad question, but for as many traders that might be asking this question, there’s probably just as many answers. Why? Because there are a number of moving parts that are necessary for sustaining consistent profits, and depending on where you are in your trading development, the answer can be different and vary for each trader. Integral components to the answer may include your trading plan, your trading style, strategies, and more. The point is, you might “kinda sorta” find an answer to your question, but you may also find out relatively quickly that it is not necessarily customized to your current needs. To add to that, the answer to that question today may very well be an entirely different one if you ask the same question a year from now. The truth is, you need an affordable avenue for asking questions and getting direct, immediate feedback customized to your current needs and situation. Well, I’m happy to report that there is a solution to this sometimes “path to nowhere” when it comes to answering your trading questions. Trading Everyday has launched a new FREE mini-series of seminars called "Day Trading Questions Answered”. It is probably only one of very few seminars available without an agenda because the it is determined by you, the trader. Traders send their questions in advance or they can ask them when they join the seminar. The entire 90 minutes is dedicated to answering only those questions that traders bring to the table. Nothing more, nothing less. How refreshing is that? So if you’ve had those nagging trading questions that you can’t seem to find the answer to, you might want to consider registering for one of the sessions. Even if you don’t have any questions, my bet is that you’ll learn from the questions that other traders ask. It’s free. You have nothing to lose and everything to gain.
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Whether you’re a doctor, a basketball or tennis player, a musician, or even a cowboy, knowledge and skills are going to determine your status in your “community” of peers. The level of your knowledge and skills can either catapult you to world class status or usher you out the door; create increased (or decreased) demand for your services or performances; provide opportunities to win awards and generate tons of money if you’re the best, or no awards and little money if you’re not. Whatever you choose to do in life, your knowledge and skill level will determine your success level. If you’ve been in the workforce for a while now, you probably already know that how much you know (knowledge) and how well you perform (skills) are major factors in whether or not the company will keep you or fire you. Let’s take a look at how trading knowledge and skills determine your success in trading. While many people believe that the goal of trading is to make money, professional traders know otherwise. Being an active, professional trader, I know that making money is a byproduct of the primary goal of trading, which is to acquire the necessary knowledge and skills to protect your capital. Simply put, it is extremely difficult to make money if you don’t have the capital with which to make the money. Nearly all entrepreneurs would not have been able to start their businesses if they didn’t first have seed money, a line of credit or loan, or investors to do so. Trading is no different. Trading is a business, not an investment. Successful traders know this. It’s all about protecting your capital. If you are still struggling with your trading when it comes to making money consistently, take a look at your level of trading knowledge and skills vs. those who are actually trading successfully. What do they know that you don’t? Why are they doing well while you are not? Where did they get the knowledge and skills to do so well? It could be anything - from your Knowledge (Have you mastered the concept behind candlestick charts, studied up on risk and money management in trading, established an understanding of the stock market price cycle like the back of your hand?), Skills (How good are you at identifying Traps and 3-Bar Candlestick Plays, or how quick are you at responding (vs. reacting) to the trade signals with the proper set up?), Or even your Psychology (Are you too desperate, unable to control your emotions, distracted?), Habits (Do you have the discipline to follow your trading plan no matter what, the tenacity to focus on the charts on your computer screen 8+ hours a day, the determination to get up every morning no matter how bad it was the day before to do it all over again?). Attitude (Are you willing to learn from your mistakes, to get help from experienced traders through coaching or mentoring, to practice patience and a willingness to do what it takes to succeed?). At the end of the day, if you are deficient in your trading knowledge and skills, be prepared to work harder than those who are already successful. Commit to do what it takes to protect your capital and make money. If you don’t, you may well be ushered out the door sooner than you would like.
