I’m back with the latest and best trading articles on Traderwave Weekly!

Have fun digesting this week’s trading wisdom and remember to share this post with your friends!


 

Why Do Technical Indicators Fail?

 

Technical indicators are popular for many retail traders because it helps take subjectivity away from them having to make a personal judgement.

It frees traders from having to take responsibility for their decisions whether to buy or sell at any point in time, as the technical indicators should technically tell them what to do.

Many ignorant novice traders believe that technical indicators are the holy grails to profitable trading.

In reality, technical indicators are not even close to being the key factors that affect a trader’s long term profitability.

As a result, many inexperienced traders are not sure what do to when technical indicators failed on them.

If you would like to understand why technical indicators fail and how you can react and protect yourself, go on and have a read.

 


 

12 Trading Mantras from Trading Legend Mark Douglas

 

Mark Douglas is one of the greatest thought leader on trading psychology related materials and research.

In honor of his passing earlier this year, the Nial Fuller (author of this article) has decided to write this article to share the essence of Mark Douglas’s trading mantras.

From my personal experience, trading psychology has always been the most important factor to whether a trader can become successful and profitable.

If you share similar beliefs as me, then this article is another must read for you, to recap the good old wisdom that Mark has shared with us over the years.

 


 

Why Trading With “Scared Money” Won’t Make You Profitable

 

If you want to win at trading, you can’t be afraid to lose.

This is in fact, one of the single most important reason why beginner traders fail to make it as a profitable trader.

When you are afraid to lose, you will avoid cutting your losses.

You hope that the market will rebound back in your anticipated direction although it seldom happens.

This is a classic example of trading with “Scared Money”.

If this is a problem and fear that you constantly face, please read on to learn what you can do about it.

 


 

The Perfectionist Trader

 

Are you a perfectionist trader?

Are you constantly looking for the holy grail of trading strategy that will consistently provide you winning trades?

Stop that now. It will never happen because perfect strategies like that does not exist.

If you are still chasing that elusive unicorn, you need to read this article to help you wake up and become more realistic about chasing that perfect strategy.

 


 

What To Do With Your Emotions When You Trade

 

It is natural to feel happy when your trade is working out as planned.

It is understandable to feel fearful when your paper losses are accumulating.

However, it is not acceptable if your emotions ends up dictating your trading decisions in any way.

A great trader always trade according to his rules and strategy, and not by how he feels at any point in time.

Are you still making trading decisions based on how you feel?

If you are, you need to learn how to manage your emotions as you trade, so that they don’t interfere with your trading decisions.

 


 

It Is Time To Add Some Accountability To Your Trading 

 

Many traders trade with the aim of making money but few are willing to review why their trading is not making them money at the end of the day.

When they consistently lose money, they blame it on the strategy and they blame it on the market but few take accountability for their own actions.

Are you one of them as well?

If so, maybe it is high time we start to learn why and how to take accountability of our own trading, so that we can improve and become better from there.

 


 

Why You Shouldn’t Sleep Through the Opening Bell

 

If you are a short term trader and is holding on to open positions overnight, you should never sleep through the opening bell.

If you have this habit of doing so, you will sooner or later be slapped with the terrible experience that this author faced in a similar situation.

The best form of learning is by learning from other people’s mistakes.

Take some time to read about this trader’s experience of sleeping through the opening bell and how he would have done it differently if given the chance to reverse this event.

 


 

That’s it from me for this week.

Stay tuned for more specially curated trading articles from me again next week!

Talk to you soon,
Philip

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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