Never miss a story from Michael Boutros

Subscribe to recieve updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Michael Boutros

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

In this episode of our bi-weekly webinar on the Foundations of Technical Analysis we discuss the psychological pitfalls that can overcome our ability to objectively asses market conditions. Recognize that it’s not about being ‘right’ or ‘wrong’ – the market is always right. Our objective is to identity the best possible position to convey a bias on a given market while always keeping risk management at the forefront. Don’t rely on too heavily on any single bit of information, but rather take a more holistic view of the current state of price within the broader trend.

Finally, get as many trades under your belt as possible- live trades (no matter how small) will not only train you to better handle risk (and the emotions that come with it), it will also help you objectively evaluate issues or areas of improvement within your strategy / technique. Experience is the best teacher and fine tuning your investigative approach on price will increase your confidence with trade execution.

New to Forex Trading? Get started with this Free Beginners Guide

Topics Discussed:

  • Humility in trading – overcoming psychological pitfalls that can impact objective assessment
  • Gathering the evidence to support a your thesis as a gauge of conviction
  • Identifying price extremes using Rate of Change (ROC)
  • Price divergences across related assets
  • Using multi-timeframe approach to view price from the prism of trend.
  • Review of actual trade setups across the majors
  • Trading Q&A Session

Why does the average trader lose? Avoid these Mistakes in your trading

A review of the latest EUR/USD, USD/CAD, Gold and NZD/USDsetups published this week highlight live examples of how we utilize our technical approach to translate an idea, into an actionable trade.

Join us for the next Foundations of Technical Analysis Q&A webinar on Friday November 16th at 10am EDT- Register Now!

Previous Foundations of Technical Analysis Episodes

Send requests on topics for upcoming Foundations of Technical Analysis webinars to mboutros@dailyfx.com.

Want more information on technical analysis and trading strategies? Check out our Free DailyFX Trading Guides!

- Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex or contact him at mboutros@dailyfx.com