Last week Thursday rocked the bulls hitting stops and making everyone think that was the yearly top, it ended up running the full trading range breaking from a new all time high and falling all the way back to the 20 day but holding. Then Friday it moved wildly after the payroll report in the […]
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Many championship sports team became champions by building the best defenses in their league. Why focus on defense? Why not focus on scoring points and offense? In sports I believe it is much easier to avoid your opponent from scoring in the first place than to have to play catch up. If a defense
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You can’t think & trade at the same time… which means you need to have thought out everything ahead of time. — Trade Like a Casino (@TradeLikeCasino) November 8, 2013 “We respond to our thoughts and feelings about reality; we don’t respond to reality.” – Charles Faulkner — Andrew Selby (@DontTalkStocks) November 7,
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Today the equity marking had some of the nastiest action of 2013. While there has been many signs of bulls horns slowly cracking, today was a real trend changer, and it was fast. $SPY crashed from an attempt to break all time highs to finding support at the 20 day line in one day.
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A trader’s best friends are risk management, trading method, perseverance, self control, and passion. Here are a trader’s worst enemies: Stubbornness: Not cutting losses and sticking with a trading method that doesn’t work. Arrogance: Believing that you are smarter than the majority of market participants before being proven. Opinion: Opinions about the future are
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A trading method and system is only a small part of successful trading. The trader is the weakest part of any method. No trading system will work if the trader trades too big and too often because eventually being wrong will be the end of that trading account. A great trading system will
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New traders make the mistake of focusing far too much energy and effort into entries. Entries do have to be good to give the trader the potential for a profit. Preferable risking $1 to make $3 and at the point where maybe a trend is starting. However the entry is really not the most
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In looking back at my historical trading results my big winning trades that I have banked and held on to were longer term trades. Even with trading weekly options the ones I was able to hold for almost a week or at least roll the profits over throughout the week were where my big returns
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I sold my long positions Thursday as the market started to signal toppiness right on cue at the $SPY 70+ RSI and I am currently just in cash waiting and watching for what happens next. Lots of cracks in the bull horns forming in equities and we may see some consolidation at these levels and
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Whenever somebody says “we’re in the business of making money,” make sure they also say “we’re in the business of managing risk.” — Michael A. Gayed,CFA (@pensionpartners) November 1, 2013 When it comes to the stock market, apparently money grows on QEes. — Michael A. Gayed,CFA (@pensionpartners) October
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