{"id":19875,"date":"2024-06-17T12:24:48","date_gmt":"2024-06-17T20:24:48","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=19875"},"modified":"2024-06-17T12:24:48","modified_gmt":"2024-06-17T20:24:48","slug":"trading-tips-worth-repeating-level-6-18-2024","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/trading-tips-worth-repeating-level-6-18-2024\/","title":{"rendered":"Trading Tips Worth Repeating & Level 6.18.2024"},"content":{"rendered":"
Get Real Time updates and more by joining our Private Facebook Group<\/a>!<\/span><\/div>\n
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Listen to our Market Recap Podcasts on Apple Podcasts<\/a><\/div>\n
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A few Tips worth repeating as we go head on into the summer months<\/h3>\n

By John Thorpe, Senior Broker<\/p>\n

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From time to time I am asked by my clients for a viewpoint that is separate from the application of technical indicators to overcome some of their perceived, faulty analysis.<\/p>\n

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Without restructuring anyone\u2019s methodology, I think it fair that a self-assessment applying some common biases that will easily reveal weaknesses in their trade and risk management selection process be applied to your decision making process.<\/p>\n

If you practice exposing these biases during your trading decision process and write down in your journal when they occur with the net result of the trades, you can quickly tighten up your game plan.<\/p>\n

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It takes 21 days to create a habit according to Steven R. Covey in his \u00a0best seller \u201cSeven Habits of Highly Effective People\u201d<\/p>\n

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Technical analysis is not a flawless science and it can be prone to various biases.<\/p>\n

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I will try to make this brief; however, this topic requires a much deeper dive. Here is a list of some common biases.<\/p>\n

1 Confirmation Bias-Preconceived notions about a market\/ Actively seek out other technical signals.<\/p>\n

2 Regency Bias-ignoring long term trends\/ don’t rest your analysis simply on price action in shorter time frames.<\/p>\n

3 Anchoring Bias-fixate on Price and refuse to adjust.<\/p>\n

4 Availability Bias-rely too heavily on recent news.<\/p>\n

5 Gamblers Fallacy- traders believe the past events increase the likelihood of future events. \/ eval trade independently.<\/p>\n

6 Emotional Bias Fear, Greed clouds judgement.<\/p>\n

Plan your trade and trade your plan<\/p>\n

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If you are a day trader,<\/strong>\u00a0below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side for the next trading session.<\/p>\n

Questions? We are happy to help!<\/a><\/p>\n

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Daily Levels for June 18th, 2024<\/h3>\n

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Economic Reports<\/strong><\/div>\n
provided by:\u00a0<\/a>ForexFactory.com<\/a><\/div>\n
All times are Eastern Time ( New York)<\/div>\n
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Get access to proprietary indicators and trading methods,\u00a0consult with an experienced broker<\/a> at 1-800-454-9572.<\/p>\n

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* This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc<\/a>. Any statement of facts\u00a0here in\u00a0contained are derived from sources believed to be\u00a0reliable,\u00a0but are not guaranteed as to\u00a0accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own\u00a0judgement\u00a0in trading.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Get Real Time updates and more by joining our Private Facebook Group! Subscribe to our\u00a0YouTube Channel Listen to our Market Recap Podcasts on Apple Podcasts     A few Tips worth repeating as we go head on into the summer months By John Thorpe, Senior Broker   From time to time I am asked by […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19875","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=19875"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19875\/revisions"}],"predecessor-version":[{"id":19876,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19875\/revisions\/19876"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=19875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=19875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=19875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}