Ed Seykota is a legend in the trading world. His ability to produce consistent returns for decades, and his masterful growth of his client’s accounts has earned him a place of distinction. But who inspired this Market Wizard’s trading methods? Richard Donchian Richard Donchian didn’t begin his successful trend following system until the age of […]
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As we enter the half way point of the week of the European summit and the market struggles to find a direction we need to maintain our discipline and follow our trading plan and trade our method. We should not start trading randomly if the markets start to become confusing, stick to your proven plan
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If you want to win in trading you must have an edge. What is your edge? Trading Method Edge: You first have to have a method with a positive expectancy. This is not necessarily just a winning percentage. You simple want to win more money when you are right than you lose when you are
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Who is Nicolas Darvas? Who is this guy that even William J. O’ Neil founder of ‘Investor’s Business Daily’ says his book is recommended reading for anyone wanting to learn to trade stocks? Darvas first became interested in the stock market in 1952 when he received some mining stock in exchange for performing in a
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Is Reminiscences of a Stock Operator really the greatest trading book ever written? It was ranked #15 on ‘Fortune’s 75 ‘The Smartest Books We Know’, and Alan Greenspan said it is “a font of investing wisdom.” The majority of top trading book lists name it as recommended reading, and many great traders credit it as
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At 70, Paul Tudor Jones is a self made billionaire with a net worth of $8.1 billion and is ranked as the 346th richest person in the world, he knows exactly how to trade the biggest money for the biggest returns. One of Jones’ earliest and major successes was anticipating and trading through Black Monday
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For a moment let’s put aside our personal opinions about George Soros and his politics and just look at what he has to say about how to trade successfully. On September 16, 1992 – later dubbed “Black Wednesday” — the day the British government abandoned the European Exchange Rate Mechanism (ERM), and the pound
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Bennett McDowell has written a very useful and insightful book for traders who want to get serious about their trading. . He takes the trader through every step they will need to consider when turning a favorite hobby into a money making business. Like any business you will need to write a defined business plan
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You better be managing risks on days like today, when the Dow Jones Industrial Average rockets up almost 500 points due to announcements from central banks. Shorts were punished once again, not by the normal market functions of supply and demand or emerging trends, but government interference. Such is life in the markets and trading.
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How are you feeling? Were your palms sweating as you placed that last trade? Was your heart pounding the whole time you had the big trade on? Are you trading for excitement or to make money? The hardest part of trading is not math, it is not even developing a good methodology and system. Risk
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Eighty-five years ago, on Thursday, November 28, 1940, Jesse Lauriston Livermore entered the Sherry Netherland Hotel, where he took a seat near the bar and enjoyed a couple of old-fashioneds. After an hour, Jesse Livermore got up and went into the cloakroom, seated himself on a stool, and then shot himself in the head with
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Oh my! Europe may implode! The euro may become worthless! Many European countries could go bankrupt! Do I go long? Is this support? Do I short based on fundamentals, surely the market will be going lower, right? Do I scoop up hot stocks at a bargain? What should I do? Follow your system, methodology, and
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Have you ever heard of the legendary Turtle traders? Legendary millionaire trader Richard Dennis set off to find out if traders were just born to trade or if they could be trained to be successful in the markets from scratch. The answer? If they could follow rules they could be successful. Founder of the ‘Turtle
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Arguably one of the greatest traders of all time with his trend following system. Charles Faulkner tells a story about Seykota’s finely honed intuition when it comes to trading: I am reminded of an experience that Ed Seykota shared with a group. He said that when he looks at a market, that everyone else thinks has
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Each market trend is generally driven by events and participants beliefs about what those events mean. Recently we have had Europe driving the market “bus”. The market rises and falls based on what the majority believes about the sovereign bond yields. Each day as yields on European bonds rise and fall the market tries to
On this thanksgiving day let us be thankful for what we have as traders. Most of the world lives in poverty with out the opportunities we enjoy in capitalist markets. Let us count our blessings. We live in a country where we can trade. Entrepreneurs have created stocks and markets for us to trade. We
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There is really only one reason to trade: to make money. Unfortunately many traders get off track. Your trading should be ran the same way you would run a business. You are trading to make money, no other reason. Your trading should resemble being in an auction for profit or a market place of goods.
If you can’t take the heat get out of the kitchen. This familiar saying applies to trading. While you are reading about trading in books and online you will feel a sense of confidence grow. You will study charts and they will look so obvious, of course, there is the support, the resistance, and
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Traders love to feel like they are a genius after a winning trade. Unfortunately, you did not win because you were so clever, you won because the market let you. Trend traders are not geniuses when they are up 10% in a month when the market was down 10%. The market was simply conducive to
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To tough it out in a marriage when things get difficult it takes faith in your spouse. It takes faith to stick with a career when at the beginning it seems like you are not being paid fairly for all your hard work, but you believe that one day your efforts will be rewarded with
You gotta have faith. Read More »