Category Archives: Trading Psychology

My Resource Box, July 7, 2014

Resource Box

Want to learn more about what I do to help traders to move from the group of 95% of losing traders into the 5% elite of consistent traders? Read  below…

Market professionals are not smarter individuals…

Their advantage resides in the knowledge of how to take advantage of widespread weaknesses, i.e. how the trading crowds creates their own demise through the emotional response of greed and fear of losing opportunities.

I have touched and explained this point recently in my recent Webinar: “The Bandwagon Theory Illustrated in Modern Markets” presented on FXStreet.com.

To get started with the material browse my blog at www.fibstalker.com.

You will find tenths of articles, over 500 video analysis and educational videos, in over 600 posts!

You can start your discovery by reading and watching some of the material I have selected for you and linked below:

With over 14 years of trading experience, harsh lessons learned from Mr. Market and working with mentors and successful traders, I have enriched my trading methodologies and knowledge and I can say I have seen a lot.

To your success!

Giuseppe Basile, CMT, B.Sc. Eng., MA.Fin,
SIAT/IFTA associate, Researcher and Trading Mentor
FXStreet.com Contributor and Toronto Forex Meetup leader

Fibstalker_face_picture
Giuseppe Basile, ~FibStalker

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Filed under Education, Resources, Trading Goals, Trading Method, Trading Plan, Trading Psychology, Webinar

“Bandwagon Theory Illustrated in Modern markets”, Webinar recording, July 3, 2014

The Bandwagon Theory Illustrated in Modern Markets

Hey reader, FibStalker here… 🙂

Do you want to get a fresh perspective on the markets and get to think of new ways to model market price in effective ways?

Do you want to look at an approach that helps you ‘doing things differently’ in the markets and outperform the 95% of traders who consistently lose money?

Keep reading….

When I started trading in 2001 I learned to interpret market action using traditional technical analysis. That is what I had available at the time… tens of books on how you can use indicators to model a trading plan (e.g. entry, stop, exits and size, at the very least)

That is, using methods that model the market using functions of price…. the common indicators.

But do professional traders and algorithmic trading (by the way, nowadays Algos control up to 80% of volume in some markets) model market action as a function of price?

No, they don’t.

The reality may surprise you, but “professional do not trade price, they trade people’s psychology” (cit. Van Tharp, one of my mentors).
What does that mean?

Their methods are not a function of price, like in technical indicators, but a function of market psychology.

Yeah, yeah, but what is market psychology?

Think of it as the aggregate response of average traders, taken as a group, to market price development…

So, do you want to know how market psychology shows up on charts and  – most importantly – how you can take advantage of that?

If that interests you and you want to start doing something differently in your trading and get into the elite 5% of successful traders, don’t miss the recording of today’s Webinar I have offered at FXStreet.com.

All the information and the link to the recording are below:

Summary: “I will discuss a powerful allegory for markets behavior, worth alone months, if not years, of trading exposure (not an overstatement). It can save a lot of time, money and mental pain. I will illustrate the Theory on the EUR/USD and other current charts, explain how it applies to my tradingand how it relates to Algos trading in Modern Markets.”

Link to the Webinar Recording.

As there was not time for the closing and the takeaways, I have also recorded a brief video in which I have commented for my subscribers on the important points to take home.

Let me know what you think about it. Reply to this email and send me your comments.

In my research and practical trading I study the effects on price of classes of algorithms in high volume markets. If you are interested in the very innovative, effective, resulting trading edge check my work at www.fibstalker.com.

 

WHO IS GIUSEPPE BASILE?

Giuseppe Basile
Giuseppe is a Certified Market Technician and swing trader, IFTA and SIAT associate. Holds a B.Sc. in Computer Engineering and a MA in Finance. In the markets since 2001, became trader and mentor in 2007. Studied with several traders in UK, Europe and US, adding over 7,000 hours of screen time between 2009 and 2013 alone. In 2012 launched FibStalker, a blog specializing in forex, futures and stocks trading, where he also runs a free newsletter and publishes daily videos with actual setups and complete trading plans.

Giuseppe’s unique method attempts to spotting footprints of Program Trading, a powerful class of algos that governs the markets. Giuseppe is a rigorous researcher with several published papers about money management, automated trading, HFT and innovative timing and trading methods.

Watch Giuseppe’s previous webinars

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Filed under Education, Program Trading, Trading Psychology, Webinar

Weekly Review and levels for GBP/USD, AUD/USD, USD/CAD, NZD/USD and EUR/CHF, June 30 2014

Dear traders,

Following up on the free Newsletter I sent to my subscribers yesterday, like I do every Sunday, I am sharing one of the three weekly video review that can help in preparing for the week and looking at the opportunities in some of the markets.

In the video below I cover the review and the opportunity for the week in the following markets: GBP/USD, AUD/USD, USD/CAD, NZD/USD and EUR/CHF:

Notice that price projections in my method are not from/to random levels and do not follow Elliot Wave, DiNapoli levels or other methods, but a proprietary method based on modeling effects of Program and Algorithmic Trading on price.

I like to help traders “level plain” the trading game showing what banks, institutions and big hedge funds are actually doing (and not what they are saying they are doing). Follow my work to learn how to spot the Algorithmic Trading footprints.

I send a free Newsletter in the weekend and provide updates throughout the week. The newsletter typically includes 3 video reviews for (1) EUR/USD, Dollar Index, S&P500 emini and Gold emini; (2) the Japanese Yen majors, i.e. USD/JPY, EUR/JPY and GBP/JPY; (3) the other majors: GBP/USD, AUD/USD, USD/CAD. Please, register here to receive the free weekly newsletter.

If you like this article, please share it with your friends and fellow traders.

Have a great trading day

The FibStalker Giuseppe, ~the FibStalker

 

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Filed under Articles, Education, English language, Forex, Market Timing, Trading Plan, Trading Psychology

EURUSD trading next 4-hour extension short, June 11 2014

Dear traders,

this is a brief analysis of the EUR/USD pair that, as mentioned in the market review provided on Monday, has respected (and confirmed so far as resistance) the area starting at 1.3668.

The Euro is currently trading the 1.3552 next 4-hour setup short in the sequence and, so long as it stays below the failure level 1.3561 (stop-loss for current short) it has the potential to move into the 1.3424 area.

The chart below shows the current view on the 4-hour chart:

"EURUSD trading next 4-hour extension short", June 11 2014

“EUR/USD trading next 4-hour extension short”, June 11 2014

Above the 1.3561 level, the Euro has the potential to move again back to the 1.3668 area of resistance, before starting moving lower again.

Hint: 1.3561 is a profit taking for shor-term trades short started at 1.3668

Notice that price projections in my method are not from/to random levels and do not follow Elliot Wave, DiNapoli levels or other methods, but rather a proprietary method based on modeling effects of Program and Algorithmic Trading on price.

I like to help traders “level plain” the trading game showing what banks, institutions and big hedge funds are actually doing (and not what they are saying they are doing). Follow my work to learn how to spot the Algorithmic Trading footprints.

Do not forget the  3-hour Monthly Webinar event I am going to offer on Thursday June 19 at FXStreet.com. It is in 2 parts and you can check the details of the June Monthly Webinar and register here. Don’t miss it, as I am going to share very good and useful information that can help in your trading.

I send a free Newsletter in the weekend and provide updates throughout the week. The newsletter typically includes 3 video reviews for (1) EUR/USD, Dollar Index, S&P500 emini and Gold emini; (2) the Japanese Yen majors, i.e. USD/JPY, EUR/JPY and GBP/JPY; (3) the other majors: GBP/USD, AUD/USD, USD/CAD. Please, register here to receive the free weekly newsletter.

If you like this article, please share it with your friends and fellow traders.

Sharing is caring…

Have a great trading day.

The FibStalker Giuseppe, ~the FibStalker

 

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Forex Markets on the move, June 10 2014

Dear traders,

Following up on the June 10, 2014 Daily Update on the 12 markets I follow, published before (by the way, the video is not up on YouTube and is available), here is what is happening in some of the Forex Majors:

EUR/USD: beautifully respected the 1.3668 short and, below 1.3568 it has the potential to move swiftly to 1.3424 and then 1.33 area

USD/JPY: respecting shorts at 102.73 and potentially into the 101 area. Below 101.56 the first target is 100.70 area

EUR/JPY: also respected the shorts at 140.16 after “busted longs” and now heading into the 137 area

EUR/CAD: also saw brisk selling, as anticipated in the weekend review, and now headed towards the 1.4617

GBP/USD: did not move much bust still respecting resistance at 1.6845. This could push price lower into the 1.6630 first target area.

AUD/USD: still in longs on the 15min timeframe. New shorts, if they materialize, will only be confirmed below 0.9317.

USD/CAD: confirmed shorts last Friday, below the 1.0961 stop level and short area that held. Next target at 1.0760.

NZD/USD:
4-hour and daily timeframes confirmed longs on top 0.8415. The 15 min is currently testing the 0.8480 longs. A pierce of the 0.8512 on the upside would confirm new longs at these levels.

Notice that price projections in my method are not from/to random levels and do not follow Elliot Wave, DiNapoli levels or other methods, but rather a proprietary method based on modeling effects of Program and Algorithmic Trading on price.

I like to help traders “level plain” the trading game showing what banks, institutions and big hedge funds are actually doing (and not what they are saying they are doing). Follow my work to learn how to spot the Algorithmic Trading footprints.

Do not forget the  3-hour Monthly Webinar event I am going to offer on Thursday June 19 at FXStreet.com. It is in 2 parts and you can check the details of the June Monthly Webinar and register here. Don’t miss it, as I am going to share very good and useful information that can help in your trading.

I send a free Newsletter in the weekend and provide updates throughout the week. The newsletter typically includes 3 video reviews for (1) EUR/USD, Dollar Index, S&P500 emini and Gold emini; (2) the Japanese Yen majors, i.e. USD/JPY, EUR/JPY and GBP/JPY; (3) the other majors: GBP/USD, AUD/USD, USD/CAD. Please, register here to receive the free weekly newsletter.

If you like this article, please share it with your friends and fellow traders.

Sharing is caring…

Have a continued, great trading week

The FibStalker Giuseppe, ~the FibStalker

 

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Daily Review and levels for USDJPY, EURJPY, GBPJPY and EURCAD, June 4 2014

Dear traders,

Following up on this morning June 4, 2014 Daily Update on the 12 markets I follows, here is my take on the USD/JPY, EUR/JPY, GBP/JPY and EUR/CAD for the coming days:

USD/JPY: respecting a measure move long which brought price into the 102.44 first level and now towards the second target at 102.94. After that we should witness a retrace, potentially into the 102.50-60 area.

EUR/JPY: this market is in a confirmed lateral move (and printing a triangle formation) after 139.14 was pierced on the downside. A potential reversal higher was indicated during the weekend. We could witness price at 141 level and, potentially into the 142.10 area.

GBP/JPY: this market is also in a lateral move, confirmed on the 4-hour timeframe, with a potential retest of 168.75.

EUR/CAD: The sequence of measured moves higher on the daily timeframe failed in this market, which means that a retrace into 1.3850 is now possible. After hitting the first target of the first measured move lower this market may be retracing now into 1.5016 with a stop above 1.5085. Right at shorter term resistance now at 1.4867. Above 1.4902, the 1.5016 resistance becomes more probable.

Notice that price projections in my method are not from/to random levels and do not follow Elliot Wave, DiNapoli levels or other methods, but rather a proprietary method based on modeling effects of Program and Algorithmic Trading on price.

I like to help traders “level plain” the trading game showing what banks, institutions and big hedge funds are actually doing (and not what they are saying they are doing). Follow my work to learn how to spot the Algorithmic Trading footprints.

I send a free Newsletter in the weekend and provide updates throughout the week. The newsletter typically includes 3 video reviews for (1) EUR/USD, Dollar Index, S&P500 emini and Gold emini; (2) the Japanese Yen majors, i.e. USD/JPY, EUR/JPY and GBP/JPY; (3) the other majors: GBP/USD, AUD/USD, USD/CAD. Please, register here to receive the free weekly newsletter.

If you like this article, please share it with your friends and fellow traders.

Sharing is caring…

Have a great trading day

The FibStalker Giuseppe, ~the FibStalker

 

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Filed under Articles, Education, English language, Forex, Market Timing, Trading Plan, Trading Psychology

Daily Review and levels for GBP/USD, AUD/USD, USD/CAD and NZD/USD, June 4 2014

Dear traders,

Following up on this morning June 4, 2014 Daily Update on the 12 markets I follows, here is my take on the GBP/USD, AUD/USD, USD/CAD and NZD/USD for the coming days:

GBP/USD: respecting a traditional move lower with resistance starting at 1.6787 and first target into 1.6648, helping into that first level where profit taking (and longs on the smaller timeframe are anticipated as per Program Trading tactics), at 1.6620.

AUD/USD: This market traded the area of resistance starting at 0.9308 (stop above 0.9333) indicated in the weekend. On the 4-hour timeframe, however, this market confirmed a lateral move. Therefore we could see this market retesting the 0.9308 level in the coming days and then continue lower.

USD/CAD: this market is in a short profit taking rally, pushed by longs in the smaller timeframes. There are two areas of potential short: 1) at 1.1016 and 2) 1.1050, with a stop above 1.1103.

NZD/USD: Congrats to those who traded the market short after the sequence of daily moves long was interrupted as of May 23. The market got into that 0.8415 area as anticipated. A first confirmation of support at this area will come if price is capable of climbing above the 0.8478 level.

Notice that price projections in my method are not from/to random levels and do not follow Elliot Wave, DiNapoli levels or other methods, but rather a proprietary method based on modeling effects of Program and Algorithmic Trading on price.

I like to help traders “level plain” the trading game showing what banks, institutions and big hedge funds are actually doing (and not what they are saying they are doing). Follow my work to learn how to spot the Algorithmic Trading footprints.

I send a free Newsletter in the weekend and provide updates throughout the week. The newsletter typically includes 3 video reviews for (1) EUR/USD, Dollar Index, S&P500 emini and Gold emini; (2) the Japanese Yen majors, i.e. USD/JPY, EUR/JPY and GBP/JPY; (3) the other majors: GBP/USD, AUD/USD, USD/CAD. Please, register here to receive the free weekly newsletter.

If you like this article, please share it with your friends and fellow traders.

Sharing is caring…

Have a great trading day

The FibStalker Giuseppe, ~the FibStalker

 

Leave a comment

Filed under Articles, Education, English language, Forex, Market Timing, Trading Plan, Trading Psychology