A post from Robert Green of Green Trader Tax on his blog yesterday indicates the “Financial-Transaction Tax” proposed during the last session of Congress has been reintroduced in the House of Representatives as of last Friday, 02/13 (coincidence?). I’ve found that most traders I’m acquainted with are oblivious to this proposition, and the few forex [...]

Of those skills inherent to consistently successful discretionary traders, few can more basic or important than the capacity for recognition and practical application of confluence.  There are many types of confluence in trading: candlesticks and pivot points or fibonacci retracement/extension levels, indicators x and y, median line/pitchfork analysis and chart patterns, and so on.  As we’ve [...]

I’ve incorporated Ichimoku Kinko Hyo (IKH) as an ongoing feature of my analysis regime for about 6 months; and while often including the overlay on charts posted, my conception of what IKH is communicating is something I don’t usually mention. Given the remarkable insight IKH offers, along with its relative obscurity and daunting appearance, I [...]

What? I’m modestly ashamed to admit it, but on occasion I’ve plotted this overlay on a chart out of curiosity, only to take it off within 10 seconds because of how hopelessly complicated interpreting it appears. I’m notorious (among a tiny, elite cabal of traders moonlighting as laundromat attendants) for wrecking my charts with moving [...]

Making the rounds on the blogroll tonight: the author of Macrotactics just threw up an interesting post about news trading. His synopsis of the emergent popularity and deceptive attraction of news trading among retail traders is more-or-less dead-on target. It’s important to mention I do not discount duplicity on the part of some brokers: re-quotes, [...]

Price action is the single inherent function of the marketplace: fractal in scope, present at all times in the tension between divergent perceptions of value and the streaming drama of supply and demand. Each trader is a free agent acting within a seamlessly fluid environment where mass alignment and antagonism coalesce out of the limitless, [...]