Current support is the $204.50 that held Wednesday and Friday. It would not be a good risk/reward to short a break under the $204.50 price level as the RSI will be in the thirties if support is lost and in the oversold rally zone. $207 is our near term resistance. A break above this […]
Ten Facts About the $SPY Chart 3/15/15 Read More »
Reminiscences of Marty Zweig: What I Learned From a Market Great What is a Trader Contest: $1500 Prize, from Victor Niederhoffer The Greatest Psychological Mistake a Trader Can Make The Original Turtle Trading Rules Marty Schwartz and Mr Top Step Video
5 Great Trading Articles: 3/14/15 Read More »
Top Trading Tweets of the Week 3/13/15 Wall Street Firm Develops New High-Speed Algorithm Capable Of Performing Over 10,000 Ethical Violations Per Second http://t.co/L2DISRRkiB — Downtown Josh Brown (@ReformedBroker) March 13, 2015 Don't smoke. I did. Wish I never had. LLAP — Leonard Nimoy (@TheRealNimoy) January 11, 2015 CASH RULES EVERYTHING AROUND ME EXCEPT WHEN OTHER ASSETS PROVIDE HIGHER RISK ADJUSTED YIELDS CONTROLLING FOR LIQUIDITY PREFERENCES B — Wu-Tang Financial (@Wu_Tang_Finance) March 7,
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Social Media can be a lot of fun for traders but at times the fun and sharing is interrupted by rudeness, arrogance, or ignorance, or all of these things combined. Here are ten examples of common annoyances we likely will experience as we navigate the trading world that exists inside social media. You enter a
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Here are two types of buy signals that traders can use. Swing traders have difficulty understanding how momentum traders like assets at higher prices and momentum traders don’t want to buy something that is not moving straight in one direction. I hope this sheds some light on two different kinds of traders. Momentum Signals: This
Two Different Types of Entry Signals Read More »
I never understood why traders held losing trades for too long. Our goal is to make money, isn’t it? And yet, we’ve all held onto something negative for too long; a losing trade for a few days, a bad marriage for a decade, smoking for a couple of decades, or any number of other things
Losers Don’t Belong in Your Life Read More »
On February 27th $GOOGL broke out over the key 200 day moving average. The day finished with a reversal candlestick, so I waited to enter on a pullback to the 200 day, or a continuation above the February 27th close. On March 2nd, $GOOGL gapped over the close and continued up. I went long that
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Chart courtesy of stockcharts.com The long term uptrend is still in place. $SPY pulled back and found support on the previous all time high breakout from late 2014. (This resistance/support line has been on my chart for weeks. It was not drawn this morning). There was a bearish MACD cross on Thursday that was confirmed
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Top Trading Articles: Week of 3/6/15 An Evening With Ed Seykota A NEVER BEFORE PUBLISHED INTERVIEW WITH JESSE LIVERMORE Batting Average Is Overrated Improve Your Trading Mindset With This One Concept… The Difference between Trading and Gambling 5 Tips To Get The Pro Risk-Taking Mindset
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Top Trading Tweets: Week 3/5/15 I see a ‘bubble’ in the number of times #CNBC uses the word “bubble”. — traderstewie (@traderstewie) March 5, 2015 Hitting a stop and watching a stock rally definately hurts. Not hitting your stop and watching a stock go down hurts a hell of alot more. — Assad Tannous
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“A stock operator has to fight a lot of expensive enemies within himself.” – Jesse Livermore Jesse Livermore was a pioneer in the trading world. He was one of the very first trend traders, rule based discretionary traders, and traders of pure price action. He was a trail blazer. It was not his methodology that
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Chart Courtesy of Stockcharts.com In late 2000, as the Internet bubble continued to melt from it’s historic 5000 level, I was learning for the first time that markets don’t always rally and bail you out on the long side. Sometimes, pullbacks turn into corrections, bear markets evolve into meltdowns, and bubbles pop. I suffered a
Is NASDAQ 5000 Inevitable? Read More »
Chart Courtesy of StockCharts.com $GOOGL has broken out above the 200 day. This is a viable option to buy with correct position sizing with a stop loss placed at a close below the 200 day. Options in $GOOGL are also liquid, giving the trader a way to cap their risks at only the cost
Chart Courtesy of StockCharts.com My February $TQQQ Trade I entered $TQQQ at $97.19 on February 10th in the morning after the gap and go break out over the 50 day sma. This was a momentum buy signal crossing the 50 day, the 5 day ema, and it was a gap up over the previous day’s
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Chart Courtesy of StockCharts.com 10 Fast Facts About the $SPY Chart The long term uptrend is still in place. $SPY is within striking distance of all time highs. The RSI still gives it room to run up. $SPY closed below the 5 day ema. Momentum is waning. The MACD is close to a bearish
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The 44 Most Common Trading Mistakes That You Probably Still Make Scarcity What I Learned About Risk-Taking From Playing Blackjack The ultimate guide to market emoji Notes from Van Tharp’s Peak Performance Course: Volume 1 Inflation Adjusted Stock Market Returns At Historic Juncture
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Trading Tweets of the Week 2/27/15 Sometimes no position is the best position. A compulsion to trade leads to disaster. — Peter Brandt (@PeterLBrandt) February 2, 2015 How to ride a trend 1/ Believe it 2/ Small position size 3/ Use stops that mean something 4/ Hold on tight cause its never easy — DK1
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I have been aggressively long the $SPY and $QQQ using leveraged ETFs since they both broke above the 50 day sma. I also took $IWM long at the break out to all time highs. I have been holding $SPXL $TQQQ $TNA & $SPY for great returns on capital in February. I am still very bullish
7 Reasons I Exited My Long Positions Read More »
The Costly Dangers New Traders Face: The bid/ask spread on some illiquid options and penny stocks can be very expensive. Never let it be too expensive to get in and out of a trade because of the slippage in the trading vehicle. Penny stocks: they’re dangerous. Period. High commission fees can eat away at your trading
Costly Dangers New Traders Face Read More »
At all time highs all holders are profitable. There is little fear to drive them to sell. There is no selling pressure on the holders of current positions so they tend not to sell. With the majority sitting on their current positions short sellers tend to be the primary ones selling. Short sellers are forced
Why Bull Markets Steam Roll Bears Read More »