I love comedy. Here is the ‘trading secret’. Laugh and relaxed. 🙂 So, switch your TV from CNBC to Comedy channel.
Here is the video for the weekend. Do you have Unagi?
Chart of the moment: $GBPUSD
This is daily chart of GBPUSD. What do you see?
Low Class Con Artist on Twitter
One of my trading buddy on Twitter dropped me an DM yesterday, asking me if I am following a guy, let’s call it Moh (I do not want to mention his name here). The reason of asking this was because, unfortunately, my buddy followed him on twitter recently, and in return, Moh sent him a DM asking my buddy to send him $5000 by Western Union. I mean, “WHAT IS THAT ?!?”
I did a quick check on Moh. Apparently, he is pretty active in Twitter and also, Stocktwits. He tweets his trade calls, and also P/L. I don’t care if this guy is some super duper trader, but by sending DM, asking twitter follower to send money to him, shows everything.
$5000 ?!? by Western Union?!?! Indeed, a real low class con artist.
Take care and good luck my followers and readers.
Free Technical Analysis Handbook
Today more and more investors are warming to the fact that psychology moves markets and therefore fundamental analysis, which fails to properly measure mass investor psychology, must be flawed.
Who can blame them? After all, fundamental analysis — based on past company earnings, rating agency projections and the like — proved to be of little value during the bust.
There is a better way.
Many investors who monitor investor sentiment readings, study Elliott wave patterns and employ other powerful technical indicators were — at very least — able to position themselves to survive the recent decline. Still others were able to turn crisis into opportunity and profit from the volatility.
How’d they do it?
Technical analysis.
You see, technical indicators remove the cloudy, bias-driven assumptions from your analysis and focus on the one thing that moves markets: investor psychology.
Past performance is not indicative of future results — and that’s where fundamental analysis goes wrong. It fails to factor in the psychology that not only moves markets up and down but also leads analysts to extrapolate the current or past trend into the future. That’s why fundamental analysts almost always miss major tops and bottoms.
Folks over at Elliott Wave International employ the largest team of technical analysts in the world. They recognize that optimism peaks before market tops and pessimism troughs before market bottoms. They use powerful and sometimes unconventional tools to help identify psychological extremes that signal high-probability turning points.
EWI’s brand-new 50-page eBook, The Ultimate Technical Analysis Handbook, will show you the various methods of technical analysis they use every day and teach you how to use these powerful tools for yourself.
If you’re a technician, this eBook is perfect for you. If you’re a fundamentals follower, it’s more important than ever that you give technical analysis a closer look. Even if you never completely abandoned your fundamental indicators, you WILL benefit from drawing on these valuable technical tools.
Learn more about this free eBook, and download your copy here.
Weekend Video
OK, I shall admit that I am a big fan of ‘Two and a half men’. Well, a good laugh is all I want from TV show. I love this show. Enjoy! If you don’t love the show, something is really wrong with you. 🙂
Free trading courses
Here are some free stuffs for the weekend. MarketClub is offering 10 free trading lessons right now. Well, free courses, why not?
