Author name: Steve Burns

  $SPY spent 2014 primarily range bound before its recent break out. The 5 day ema has been end of day support for the past 12 days. The 50 day sma has been support since late April. $SPY has broken and closed above the 70 RSI for the second time since year. $SPY is up

I never want to lose more than 1% of my total trading capital in any one trade. I try to put on position sizes where the worst case scenario is a  dollar loss equal to no more than 1% of my account. I want to risk 1% to try to make 3% on my capital.

The new trader must win the battle of your ego, of wanting to be right and change it to just wanting to make money and a big part of that is admitting you are wrong quickly. We have to win the battle of wanting to be lazy and instead do the homework required to be

    “Trading is easy money, how hard can it be to just buy low and sell high?”  The learning curve is steep and the work involved is intense mentally, emotionally, and intellectually. “I have a few thousand dollars, I will turn it into a million dollars quickly.” The bigger the attempted return the higher

   With all the perma bull fan fair we are sitting on a 4.33% return in 2014 for $SPY and it has been a choppy ride up with plenty of whip saws. I know many swing traders and day traders that are out performing buy and holders and trend followers. The 50 day sma has

Too many traders enter the markets with the get rich quick scheme, the delusion that trading is an easy way to make money, or too lazy to put in the effort it will take which is measured in years to be successful not hours. New traders need to focus completely on surviving that first year

$SPY has not closed beneath the 50 day sma in 27 trading days. This is our line of support. The 50 RSI on the daily chart has been our support level as well these past 27 days. With about a 3% return in $SPY this year the risk of long equities has really not been

    There is so much bullshit with traders on social media that new traders have trouble seeing what is valuable and what is noise and confusion. Salesman abound with subscription services and playing make believe like they never lose. The vast majority of traders are pretenders, they have not done the homework to be

  While $IWM has been fighting back and forth to take and hold the 200 day line looking more closely at the $IWM chart it appears that the sellers have been waiting at the 50 RSI level on the daily chart to exit $IWM longs. Short term moving averages have been of little use in