Patient is key on trading

Hi traders,

Today I am going to talk about something that is key on trading which is patient. It seems to be easy sometimes to have patient on trading when its needed but is very hard especially for new traders which is adapting to the physiological part of trading.
Never you will find a market which will be in the same trend forever and that is when we see those 'healthy pullbacks'. When I say healthy pullbacks I mean when the market is in a very strong trend and we see the market doing a correction on short-term so more traders can jump into that market into the trend direction. However, that trend will not last forever and the market dynamics change which means that the market will go back to ''range mode''. Keep in mind that the markets has three modes: bullish, range, bearish. When the market is on bullish or bearish trend, its very common for the market to move to range before a full reversal. (eg. bullish trend, goes to range and then to bearish trend).

It is very difficult to trade the market when the market gets into a range mode because most of the time the market is not moving that much, or gives a lot of false breakouts or most important: you get sucked-in into the market in a very very bad entry. This is why I recommend to wait for a 4hr or even better; daily close above or trend line or Fib level so you get more conviction/confirmation.
However, many people do not that patience to wait for the confirmation and this can effect their results very dramatically.
I recommend for you to try more to trade with orders, which gives you the opportunity to wait for the market to get into your price and you won't need to run after the market. 
I agree that patient you gain with experience and confidence in yourself with good results but good results comes from a very tight discipline. So, try to trade slowly, you don't need to open many trades or big trades, all it matters first is to get those pips and with time you can start increasing (with correct risk management of course) your trading positions.

I think this is very good topic for your to think when you are free especially during the weekend that the market is closed. I also recommend you to take a break when you don't have good days! Everyone (even pro traders!) has their bad periods and the best thing to do it to take a breath and start again but feeling positive and not increasing your trades so you can get the money back that you lost.

Take you time and be patient!
It's much better for you not being trading than having really bad trades!

I hope this post can make you think about this topic and make you think what you can do to improve your trading.

Have a great weekend and we keep in contact in the chatroom or on Twitter.

By Thiago Duarte
Chief Strategist at Duarte Investment Group 
thiago@duarteinvestmentgroup.com 
@thiagotrader

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Is the chatroom reliable?

It is. With Slack platform we have the option to attached files and send to everyone in the room. We can also add our picture in our profile to look more visible for everyone to know who you are. Also when you access anytime in the day, you can read all the history from the chat you missed when you weren't online. Also you can install the Slack app in your mobile phone and you can access the chatroom from there.


I hope to see you there soon!

By Thiago Duarte
Chief Strategist at Duarte Investment Group 
thiago@duarteinvestmentgroup.com 
@thiagotrader

Indices back to big resistance!

Hi Traders,

I hope everyone is having a great weekend. As today is Sunday, is that day that when it gets around 8pm I start looking charts because there is nothing else to do haha.
Anyway, on the 'quick live session' that we had on Friday, I said that indices were getting very close to levels which I have been waiting for weeks and we are finally there. I started looking the Dow, SP500 and DAX and all of them are in big resistance and I love when that happens because of the correlation: If they are at resistance together, it gives me more confidence that the other side of my trade might be limited.

However, lets go to the charts:

Dow (DJI or US30 on tradinview):

Monthly:

Weekly:

Daily:

SP500 (SPX500 on tradingview):

Monthly:

Weekly:

Daily:

DAX (GER30 on tradingview):

Monthly:

Weekly:

Daily:

I do not think I need to talk about each chart as it is very easy to look and understand what I am looking at but as I said, they are ALL in RESISTANCE and I expect indices to make a top soon. Keep in mind that I have been bearish indices for the past 5 months and I still am and I think as we made a good jump in the past few days, I think this is a opportunity to start selling.
Also note that I am a medium to long term trader and I do not have any problem holding my trades for more than 1 week if I need to and also I do not talk about stop-loss because it depends in your account size, strategy and how long you can hold your trade.

I hope that by looking these charts it can help you in some way.

Take care and we keep connected on Twitter: @thiagotrader

By Thiago Duarte
Chief Strategist at Duarte Investment Group 
thiago@duarteinvestmentgroup.com 
@thiagotrader 

USD/CHF very close for a massive breakout!

Hi Traders,

We have NFP today and is a great day for us to see a important breakout. So, I was checking my charts now and I found this USD/CHF weekly and daily charts which shows us that we are very very close to a breakout, especially if we close the week above these trend lines:

Weekly:

Daily:

Let's see if we can close the week above 0.9815. IF it does, than we can see a breakout come into play and we can look for 1.0700.


By Thiago Duarte
Chief Strategist at Duarte Investment Group 
thiago@duarteinvestmentgroup.com 
@thiagotrader