Recent content by rick wright

When trading we look to short in supply zones during downtrends and go long in demand zones during uptrends. Easy enough, right? Theoretically, yes, but the main question is "Which time frame are you using to determine direction?" This week's lesson is specifically applied to you day-traders...

This article will show you how to use a smaller economy’s currency to help you decide what to do with a larger economy’s currency. Just like in the stock and futures markets, there are always things that seem to lead the way of the larger markets. For example, very often a few of the FAANG...

Hello traders! This week, my Lesson will show how to use multiple time frames to trade the Forex market. In the grand scheme of this core strategy, we recommend using three time frames to help make your investing and trading decisions, whether you are trading stocks, Forex, Options or futures...

One of the more interesting and helpful tools we have as traders is to use the correlation of the dollar index ($DXY) with our US dollar currency pairs. However, since non USD currencies don’t have their own index, we’ll have to make one. Let’s dive in! First of all, the dollar index is...

Hello traders! This week I will try to explain a bit about relative strength between individual currencies, help you choose which pair to trade, and suggest a couple of rules for your trading plan. In the classes that I teach, obviously the topic of charts comes up, along with which currency is...

Hello traders! I’d like to discuss a common misconception that new traders have – that professional traders sit and stare at their computer all day, making dozens of trades during their trading day. In addition, I’ll suggest a progression of trades you can add to your trading plan to help keep...

In this article I will examine more closely the common belief that those darn Forex brokers are "running" or "hunting" our stop loss orders. First, let's define what this means. Running or hunting stops basically means that you enter a long (short) position with a sell (buy)stop loss a few pips...

In this article I will focus on the correlations of currency pairs and how they can help us trade. Occasionally, a trader may notice that a particular currency pair may lead another currency pair - that is, have turning points that happen a candlestick or two earlier. While it is rather rare for...

In my nearly 20 years in this industry, and almost five years of teaching, I have come to the not-so-startling conclusion that there are two types of traders in the world - those that make money and those that don't. I call these two groups the 90 percenters (the money losers) and the 10...