Almost everyone has read the statistic that 90% of active traders are not profitable and eventually quit trading. While I don’t have the exact numbers, I suspect that a lot of those traders blow their entire trading account before they quit. Even many legendary traders like Dan Zanger, Nicolas Darvas, and Alexander Elder lost a […]
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“Stay in the center of the circle, and let all things take their course.” – Lao Tzu For long term profitability a trader must develop an edge over other traders, and then leverage that edge using discipline. Money comes from a trader’s ability to develop a system of robust entries and exits, and trade
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Candlestick trading patterns pic.twitter.com/TBWHVqYXAY — Steve Burns (@SJosephBurns) October 20, 2014 Day Trading vs. Swing Trading pic.twitter.com/m7JnMXnwC1 — Steve Burns (@SJosephBurns) October 17, 2014 You know its a bad down day when the price candle is inside the volume bar. $SPY pic.twitter.com/peyTUAClir — Steve Burns (@SJosephBurns) October 15, 2014 Traders on a date be like…
15 Popular Tweets 10/21/14 Read More »
Last week the markets did things that have not happened in a long time all of them pointing to a down trend and a structural change in the market. The 200 day was lost and then the market dropped dramatically. The 200 day has held as support since 2012. The 30 RSI was lost
10 Fast Facts- $SPY Chart 10/19/14 Read More »
Lessons From Dorsey Wright’s Thomas Dorsey How Often Does the Stock Market Correct? Fat F1nger Trading Blog Random Thoughts Why ‘Alpha Capture’? I am
Weekend Reading 10/18/14 Read More »
@SJosephBurns @Malkwise @MrTopStep Yum on a gluten free roll please. — RF (@AVsDaddy) October 17, 2014 SPX 20 handles off the highs. Thanks a lot, profit takers. — Irrelevant Investor (@michaelbatnick) October 17, 2014 Need a central banker on the tape to restore BTFD confidence quick here — zerohedge (@zerohedge) October 17, 2014 @SJosephBurns The
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Reminiscences of a Stock Operator has stood the test of time. You know that you are talking to a trader when they love this book and have read it over and over again. It teaches principles that successful traders will be using for many years to come. Like all classic texts, this book doesn’t feel dated, despite being in
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Money and investment capital are very picky things. They are constantly flowing from those who know how to manage it, to those who do not. Money is not static, it is in constant flux. This is why a person that starts out poor in America can end up wealthy, and also why generational
The Flow Of Money Explained Read More »
Trading is not about one day, one week, or even one year. Trading is about taking money out of the markets over and over again, consistently, and keeping it to spend on other things. When I have bad days, I look at my long term track record over multiple markets, and that gives
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The financial markets are looking for applicants that fit these qualifications: Expect long hours of study and research. Assume you will lose money in the beginning. A person interested in becoming a trader must have the mindset of an entrepreneur. Risk, irregular income, and spending money to make money, are all part of the business. You
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