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!


TECHNICAL ANALYSIS

 

John Murphy’s Ten Laws of Technical Trading

Putting aside the exact tools of technical analysis and their respective strategies, it is actually more important to understand the reason why you are using technical analysis in the first place.

In this article, John Murphy, the author of the famous book “Technical Analysis of the Financial Markets” attempts to shed light on 10 laws of technical analysis which he believes that traders need to be in tune with.

If you are able to internalize these 10 laws of technical analysis, you will be in a much more solid foundation to understand how to use technical analysis tools and apply methodologies to greater accuracy and effect.

 


TRADING CONCEPTS

 

Successful Trading Is Much More Than Just Charting

Technical analysis while important to a trader, is not the most crucial element of a long term sustainable trading business.

In the eyes of the author of this article, technical analysis is simply the Analysis component of his trading framework, while there are two more components which are even more important, namely Trade Management and Mind Management.

If you still do not know how position sizing, risk management and money management works, then you have not learn Trade Management.

If you still do not know how to maintain emotional discipline, manage your bias or be rational with your decision making process, you have not master Mind Management.

So read on and learn to master these key ingredients of trading right away!

 


TRADING PSYCHOLOGY

 

What It Truly Means To Be A Disciplined Trader

We often hear that trading psychology is one of the most important skill required to be a proficient and profitable trader.

However, this might be too big a topic for most as the concept of trading psychology can sometimes be quite abstract and not easy to relate to unless you have a strong sense of awareness about your emotions and behaviour.

In this article, the author attempts to summarise the key learnings he received after reading Mark Douglas’s book, “The Disciplined Trader.

If you do not have time to read the entire book, please make sure you at least try to absorb whatever you can from this article on what it means to be a disciplined trader.

 


 

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Philip Teo

Founder & CEO at Traderwave Pte Ltd
Philip Teo is an entrepreneur, speaker and trading coach who specialises in the field of Technical Analysis of the financial markets. He is currently the Founder and CEO of Traderwave Pte Ltd, a financial technology company that offers a web charting application to global traders. He has conducted many trading seminars and appeared on national television before. He is also currently an official speaker and trainer with SGX Academy. Learn more about him at his Google+ Profile, LinkedIn Profile and Facebook Profile
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