$SPY was able to trade above the 10 day for 4 straight days which was previous resistance. For six days the 100 day held as support before $SPY made a run for the 50 day. For Four straight days $SPY has made higher highs each day versus the previous day. Last week $SPY successfully […]
A Dozen Fast Facts About The Current Market Action $SPY Read More »
In trading, the money is not made in the entry, it is in the exit. The art of the exit is crucial to a trader’s success in the markets. Profits can disappear if you do not take them at the right time, and small losses can become huge losses if you do not cut them
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“Fish see the bait, but not the hook; men see the profit, but not the peril.“ -Chinese proverb Options are both one of the greatest wealth building tools ever created and a quick way to lose all your trading capital if you over leverage and disregard the odds of your trade. Options can literally
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A lot of trading is counter intuitive when it comes to price action. Also a lot of things that new traders see leads them to believe that there is some magic short cut to success. If trading was really as easy as so many subscription services try to sell it as then there
Don’t be Fooled: Here is What Successful Trading is Not: Read More »
Over the past few years, I have seen many people pass away that I knew well that were still only in their 40′ s or 50’s. It has been almost 12 years since one of my favorite Facebook friends passed away suddenly. The thing I have come to realize after having my 50th birthday, is
A Trader’s Most Important Question Read More »
The weakest link to any trading strategy is the trader that is executing it. It is usually the mental and emotional errors of the trader that cause 90% of traders to lose money. Trading success is determined more by the mindset of the trader, than their skills with math, economics, or macro knowledge. The
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Before there was the U.S Dollar acting as the world’s reserve currency there was an almost universally accepted form of money since the beginning of recorded history: GOLD. Paper currencies were originally pegged to gold to give them value. The bearer of the originally paper currencies could exchange it for precious metals, that
The World’s Real Reserve Currency Read More »
SPY has closed below the 10 day sma for 16 straight days now. I prefer to play the long side when we are trading above the 10 day sma. I could take a long position with a close above this 10 day line. We may get this on Tuesday with the looks of
Ten Fast Facts About $SPY and This Market Environment. Read More »
Trading is one of the few professional fields where anyone can go against professionals very quickly and easily by simply opening a trading account. There is no college required, no degree, or apprenticeship needed before a new trader steps up to compete in the world markets against seasoned traders and professional money managers. The 10%
Ten Errors That New Traders Make All The Time Read More »
What were the greatest trades of all time? Here is the list of the who, what, when, where, and how of the greatest trades in the financial markets were made. While the risk management of executing many of these trades is not what many traders would want, we can see many of these as
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What if you could read the principles for success for some of the world’s greatest traders? Well you can, here is how author Jack Schwager summed up the the similarities of the ‘Market Wizards’ he spent years interviewing in his second book. The following is a summarized excerpt from Jack D Schwager’s book, The New
42 Ways To Trade Like A Market Wizard Read More »
In my short term trend trading I like to ride winning trends that emerge through key long term resistance and support levels by trailing the trend trade with a short term moving average. My two favorites are the 5 day ema and the 10 day sma to use as my trailing stops in a long
Tesla’s Magic Support Line Since March Read More »
Subjective: Based on or influenced by personal feelings, tastes, or opinions. Proceeding from or taking place in a person’s mind rather than the external world. Subjective traders are intertwined with their trades. Their signals are generally entering out of greed and exiting based on their own fear. They believe in their opinions more than the
Are You A Subjective or Objective Trader? Read More »
There are five key things that make all the difference in profitable trading: Focus on a system with bigger wins than losses, big wins makes robustness a much easier thing to find. A 1:3 risk/return ratio makes it much easier to be profitable even with more losses than wins. Trade in the direction of
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In years to come traders and investors will look back at the Tesla chart in hindsight and think how easy it was. Those that traded it will know the reality, that this was a very volatile, choppy, fast moving, gapping up and reversing stock in real time. This was no easy trip to the
The Five $TSLA trading strategies that have worked so far: Read More »
Pretty clear lower highs and lower lows as we entered last week until the battle at the 50 day began. After more whipsawing after the FOMC minutes were released Wednesday we finished down for the day, then Thursday we rallied back over the 50 day and confirmed that move Friday rallying all the way to
The $SPY Weekly Recap Read More »
Poker is one of the very few casino games that’s like trading. Unlike other games where the casino keeps the odds in their favor, in poker there are many ways to get an edge over other players at the poker table. The way you play the odds can give you an edge, folding on bad
20 Poker Quotes that Apply To Trading Too Read More »
Until recently, the high speed nature of trades in certain financial investments such as CFDs and forex meant that only those in banks with specialised equipment could take advantage of the fluidity and flexibility of these sorts of investments. However, now that just about every home and workplace has a high speed broadband connection,
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Forex – or foreign exchange – is a type of financial trading that was once exclusive to traders in stock exchanges with direct access to the latest exchange rates for up-to-the-minute deals. However, the advent of the internet has changed all that. Now anyone with a computer and a fast internet connection can
Making a Start in Forex Trading Read More »
A book review for: TREND COMMANDMENTS by Michael Covel This book is based on the author Michael Covel’s extensive 15-year study of the world’s top trend following traders such as Ed Seykota, Jerry Parker, the Turtle Traders, Larry Hite, and many others. This is not a book filled with Mr. Covel’s opinions, as it’s
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