Author name: Steve Burns

                                                          Be patient with winners letting them go as far as they can but be impatient with losers exiting when you are proven wrong. Be confident in […]

                                                                                                                                                                                                                                                                                                                 Today’s blog post comes straight from a great discussion out of our facebook trading group New Traders, Rich Traders, & Good Traders. Thanks to Andrew Rocco for the original post and also Matthew Smith,and Travis James for their insightful comments in our trading group. Here Are The Ten Common Mistakes New Traders Are Making:

This year one of the most profitable systems with the smoothest rides has been simply to buy and hold an equity index. Even the big cap S&P 500’s $SPY ETF is up almost 27% at this point. I am sure there are many new traders that were rewarded for simply being biased to the long

  Well, 2013’s most robust strategy has been simply to buy and hold an equity index. This whole year has been nothing but a big  massive break out of the 2000-2013 trading range and a very hated bull market all year. This whole year’s equity market has simply been all about swing trading off bounces

                                                                                                                                                                                                                                                                                                        I do not think traders really start making money until they really mature as traders and understand the big picture. I have been on this journey myself and went through the wild excitement of the the internet bubble, day trading and the experience of making a few hundred dollars in a few minutes the

  There is a difference between a “bubble” and “bull market” — MX1 (@TradetheLeader1) November 16, 2013   Trading is a business. What’s your niche/edge(s) separating you from the graveyard of failed trading careers? Quantify this answer. $study — R2 Ray C. Freeman (@R2RayCFreeman) November 17, 2013   “When you have confidence, you can have

                                Making mistakes in your trading is not cheap. Here are the ten most expensive things a trader can do. This does not apply only to new traders, even professionals with long track records can make these fatal flaws and

                                                                                                                                                                                                                                                                                                           There is only one way to avoid losing trades: Quit trading. If you want to keep trading then you will have many losing trades on your path to profits. Learn to accept them and not emotionally over react to any one losing trade. Here is how I do it: 10 Reasons I Do Not

                                                                                                                                                                                                                                                                                                            In the past few years I have been on social media I have had the privilege of  interacting with many great traders. Some communication has been through facebook messages, some through my trading group, others on twitter. Here are the traders that I have witnessed make profitable trades on a consistent basis through

                                                                                                                                                                                                                                                                                                           Many of the new traders that leave the markets with a bad experience are the ones that could never grasp the concept of reacting to what is currently happening in the markets versus their desire to know what is going to happen. The new traders that look for gurus to predict the future,

                                                                                                                                                                                                                                                                                                          Many new traders deceive themselves. They celebrate small wins. They look for the magic solution to making money through a fail safe system. They believe a seminar or newsletter will change their life completely. The mistake trading for easy money and coaches and gurus for having that secret recipe for success. Well, there is

Ten Benefits of Trading the S&P 500 Index: You do not have to diversify with multiple stocks for equity exposure, the index is already diversified. The risk of any one stock having something catastrophic happen will not really hurt your trade. No one stock has more than a 3% weighting.  The S&P 500 is much

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

                                                                                                                                                                                                                                                                                                       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