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!
Simple moving average is one of the most commonly used technical overlay to gauge whether a particular instrument in in an uptrend or downtrend.
Besides gauging the trend, simple moving averages with the combination of a few other elements can be used as a trading trigger to enter or exit a trade.
In this article, the author talks about using moving average together with the classic horizontal support / resistance levels to determine a high probability trading idea.
Read it up now and see if that might be a useful strategy or not!
WORDS OF WISDOM
This is a fantastic transcripted interview between Michael Martin (author of the book, The Inner Voice of Trading) and Peter Borish (a global hedge fund manager who used to learned directly under Paul Tudor Jones).
The topic is all about losing trades and why losing money is necessary and good for a trader.
The best traders do not actually display their true capabilities when they are on a good trading run.
You know if someone is truly a proficient trader by looking at what they do when they are losing money or is in a draw-down.
In this interview, Michael and Peter discusses about some of their personal experiences and why they believe every trader needs to learn how to lose money in the right way to become a profitable trader.
TRADING BEST PRACTICES
The Art of War strategies written by Sun Tzu has been applied to many different fields of life and businesses for many years because the principles are pretty universal.
Sun Tzu Art of War has predominantly about psychological warfare and in the field of psychological warfare.
If you truly understand trading, you will realise that a trader is constantly engaged in a psychological warfare with his own mind and with the market via his analysis of the market.
As such, the Art of War can also be applied effectively in trading.
In this article, the author shares his personal interpretation of Sun Tzu’s strategies and how some of them could be applied in trading. Maybe some of those interpretation could offer you some inspirations as well!
If you find these articles I’ve shared useful, do share them with your friends by clicking the sharing buttons!
- The True Nature About Trading The Financial Markets - August 4, 2020
- Are Fake Breakouts and Reversals Really Fake? - August 1, 2020
- Technical Analysis Is Used To Study Probability And Not Certainty - July 30, 2020