Factor Alert – NZD/JPY
This is a forex cross I have been watching for the past four months.
The cross has remained in a broad trading range of 45.00 (means 45 Yen per NZD) to 96.00, as shown on the monthly graph.
Entries by Peter Brandt
Losing to Win
I sometimes sense from email correspondence I receive from the Factor community that there is an obsession in being “Right” when trading, or put another way, concern that their analysis might be “wrong.”
Running the risk of offending, this worry about being right or wrong on a trade or an analysis puts up a major red flag in my mind.
Factor Update – April 3rd
This content is for members only
Factor Alert – March 30th
Factor Alert - March 30th
Note: Report publish to current members (Feb 29th).
There are a few charts of interest developing this week.
New Zealand Dollar. This chart appears to be completing a common bottom on the weekly and daily graphs. A decisive close above the Oct 2015 high would complete this base area and establish a target of .7470, although resistance should be expected at the Feb 2015 low of .7147. This is a possible Factor Move.
Factor Alert – March 30th
There are a few charts of interest developing this week.
New Zealand Dollar. This chart appears to be completing a common bottom on the weekly and daily graphs. A decisive close above the Oct 2015 high would complete this base area and establish a target of .7470, although resistance should be expected at the Feb 2015 low of .7147. This is a possible Factor Move.
Trading Commentary — A day late, a dollar short
The comments herein are not applicable to all traders. But to those for whom they are applicable, you will know it.
Four part question:
1 Have you ever had a strong feeling that a market was about to do a certain thing? As an example, let’s say you had a strong feeling the S&Ps were about to rally 30 big points.
2 Next, have you ever then jumped into the market AFTER it started doing what you expected it to do? As an example, let’s say you bought the S&Ps after it rallied 20 points.
3 Next, have you ever then been spooked out of the trade you chased on the first adverse reaction against your position. Going back to our example, you chased a 20 point rally in the S&Ps, then got shaken out on a 10 point reaction.
4 Next, have you ever then watched the market
Factor Report – March 27th
General trading commentary
Novice traders often begin their speculative endeavors with many false assumptions. Of course, the marketplace charges a heavy tuition fee (in the way of trading losses) to correct false assumptions. Once such false assumption is that profits can be made in any and all market environments – a trader just needs to constantly adapt to changing trading environments to figure out how to cash in on the price moves. As an example, a novice day trader or scalp trader may believe that each new day in the S&Ps is a blank slate – he or she just needs to find the formula that will work for that day. Such thinking is faulty and will result in long-term trading frustrations and capital losses.
A trader cannot be successful over an extended period of time without having an organized and systematic process of trade identification, overall risk management, trade sizing, trade management and emotional/psychological stability. The reality is that any given approach to trading will have good times and bad times, good weeks and
Factor Report – March 27th
Factor Update, March 27, 2016
Note: Due to our Easter Holiday schedule this is an abbreviated Factor Update with limited coverage of the markets under review by Factor LLC.
Market ReviewFactor Moves are currently ongoing in: |
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| · Japanese Yen | · Crude Oil |
| A Factor Move was completed or terminated in Gold, Silver and USD/NOK. A Factor Move is developing in USD/SEK and AUD/NZD. This issue of the Factor also comments on the Soybean complex, Sugar, Gold, AVGO and global stock indexes. Also included in this Update is commentary on the process by which we throw in the towel on a trading position. | |
Is it possible to copy another trader’s exact style?
In more than 40 years of trading, I have never met consistently profitable traders who did not have a style unique to themselves
Over the years I have constantly harped that to be successful a trader must develop his or her own unique approach to trading. The Factor is not a trading or signaling service because I do not believe in signaling services.
I am privileged to have belonged for years to a private online forum that includes some of the best traders in the world – a number of whom have been featured in the Market Wizards series. Recently the subject of mirroring another trader’s style was a topic of lively discussion within the group. There were some remarkably insightful comments made that I want to share with you. These comments were made by traders whose names you would recognize.
My Trading Day
I get many questions on what a typical day looks like for me. This is an important question because the PROCESS of trading is extremely important.
Friday afternoon late
• Print out a list of my positions and open orders
Saturday
• Scroll through weekly charts of the “long list” of markets I monitor on a weekly basis. This typically includes about 50 futures markets, 25 forex pairs and 25 equities.
• Create a “short list” of markets of interest, including all the markets in which I am entering a new week with a position. The “short list” usually included about 20 to 30 markets.
• Scroll through the daily charts of the “short list” to determine those markets that could generate a buy or sell signal the following week. From this review I create my “active list” which includes the markets in which I hold a position and markets in which I will develop a trading strategy.
• The “active list” typically includes 10 or so markets. I monitor this list carefully. I may even monitor this list inter- day for an asymmetrical trading opportunity.
• For open trades, I review my target and stops orders to determine if any modifications are needed
• For possible new trades, I determine an entry strategy, risk management guidelines and trade sizing
Peter Brandt’s Charting Tool
Peter’s Crypto Coverage
