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  • The Art of Flow Trading
    goendeavor.com | Nov 11, 2011 05:57:07

    Flow Trading teaches a trader to forget about himself and follow the market instead of himself; he does not move ahead but responds to the fitting influence of the market. The basic idea is to outperform the market by yielding to it and using its own strength. That is why a successful trader never asserts his preconceive ideas and opinions against the market, and never puts himself in frontal opposition to the direction of the market force. When being at a loss trade, he will not resist on closing the position, but will control the market by swinging with it.

    In order to accomplish this, a trader has to remain mentally quiet and calm and to master the principle of no-mindedness (flow). No-mindedness is not a blank mind that excludes all emotions; nor is it simply calmness and quietness of the mind. Although quietude and calmness are important, it is the "non-graspiness" of the mind that mainly constitutes the principle of no-mindedness, which means let the mind seek trading opportunities without interference by the ego within oneself. So long as the mind remains open, there is absolutely no effort in letting go losses, loss opportunities, and more importantly winning trades; and the disappearance of the effort to let go is precisely the disappearance of the ego. There is nothing to try to do, for whatever trade ideas come up moment by moment is accepted, including non-acceptance (not trading). No-mindedness is then not being without emotion or feeling, but being one in whom feeling is not sticky or blocked. It is a trading mind immune to emotional influences.

    Therefore, concentration in Trading does not have the usual sense of restricting the attention to a single trade idea; it is simply a quiet awareness of whatever happens to be here and now. Such concentration can be illustrated by an audience at a football game; instead of a concentrated attention on the player who has the ball, they have an awareness of the whole football field. In a similar way, a trading mind is concentrated by not dwelling on any particular trade in the market. The mind is present everywhere because it is nowhere attached to any particular trade. And it can remain present because, even when relating to this or that trade, it does not cling to it. The mind can work its inexhaustible power because it is free, and it can be open to every trade opportunity because it is empty. As stated earlier, a trader aims at harmony with himself and the market. Also, being in harmony with the market is possible not through force, which provokes internal conflicts and reactions, but through a yielding to the market\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\'s force. In other words, a trader promotes the spontaneous development of the market and does not venture to interfere by his own action. He loses himself by giving up all subjective feelings and individuality, and he becomes one with the market. Inside his mind, the market has become mutually cooperative instead of mutually exclusive.

  • EUR/USD: Euro rose on hopes for debt crisis soluti
    goendeavor.com | Nov 11, 2011 05:56:56
    In the Eurozone economic news, the consumer confidence declined to -19.9 in October from a revised reading of -19.1 in September.

    Additionally, in Germany, the Producer Price Index (PPI) increased 5.5% (Y-o-Y) in September, unchanged from the rate of growth in August.

    In the Asian session, at GMT0300, the pair is trading at 1.3778, with the EUR trading marginally lower from yesterday’s close.

    The pair is expected to find support at 1.3675, and a fall through could take it to the next support level of 1.3572. The pair is expected to find its first resistance at 1.3862, and a rise through could take it to the next resistance level of 1.3946.