I have been fortunate to have had a great string of success trading over the past decade from 2003-2013. How I trade today was primarily learned by making mistakes in the late nineties up to 2002. I have always had a knack for getting on the right sides of great trends at the right time. […]
The Ten Things I Learned Trading The Last Ten Years Read More »
If you are randomly trading based on a hunch, with no real underlying system, then your odds of success in the longterm are slim. The systematic trading of a winning methodology is what creates an edge in trading. Consistently trading a robust system or methodology enables you to trade in a way that wins in the
Answer These Questions Before You Trade Read More »
Each stock is different with how it reacts to support and resistance levels and what what moving average support it gets in an up trend. Facebook has not been an overly powerful momentum stock, the chart looks like one under steady institutional accumulation. Facebook is not a stock that you must buy at break
The Current High Probability Entry Point for Facebook Read More »
Before you launch your trading career or continue it, it is important to ensure that your trading method works. This is where the homework comes in. Chart studies, computer back testing, the study of the success and failure rate of chart patterns, how monster stocks performed historically, and eyeballing charts around specific price action back
What Makes Money In the Markets & Some Performance Histories of Methods Read More »
Do you want to drastically improve your trading? Simple, TRADE SMALLER, risk less, cut losses sooner, but still let winners run. The 1%-2% maximum risk per trade rule can dramatically improve your trading by limiting draw downs and still leaving the upside open for big winners. When you risk smaller amounts of your
7 Reasons Why Trading Smaller Is Better Read More »
Ten Golden Trading Rules That Can Help New Traders Never add too a losing trade. In adding to a losing trade you are already wrong but now become more wrong with a bigger trading size. Adding to losers makes you a counter trend trader that usually ends badly. Never lose more than 1% to
Ten Golden Trading Rules That Can Help New Traders Read More »
Most of the best traders I have read about and know of personally do not predict what will happen they trade what is happening. New traders always want to predict, they want to argue about their beliefs and why something must happen or will happen. Most rich traders are rich because they are
Reacting versus Predicting in Trading Read More »
$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
7 Good Ways To Exit a Trade Read More »
“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
Option Traders 7 Common Mistakes Read More »
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
The 10 Mental Errors That New Traders Make Read More »
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
The Top Ten Trades of All Time Read More »
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 »