There are two different types of traders, one that wins and one that whines. Whiners never win and winners never whine. Trading is a tough business and your have to be able to keep the right mind set to get you through the rough spots when the markets starts try […]
The Top 10 Distinctions Between Winning Traders & Whining Traders Read More »
Lose your money,but keep your discipline. Trading is about following a method, system, or rules that give you an advantage over other market participants in the long run. There are good bets and bad bets. There are traders who follow a trading plan with discipline and others that start trading out of fear and greed
Trading: Mistakes versus Losses. 10 BIG MISTAKES Read More »
A draw down is a normal occurrence for a trader. Swing traders experience them in trending markets, trend traders experience them in choppy markets, day traders experience them in markets that whip saw violently, and growth investors experience them in bear markets and corrections. the key to surviving them
Surviving a Drawdown: 7 Steps Read More »
Every new trader loves to focus on entries, hot stocks, what to buy, what stock might double, and how long they want to hold their stock. Stops are a very neglected subject with new traders, the best shot many new traders give to an exit strategy is either a price target or a quick scalp
Where Do I Get In and Out of a Trade? Read More »
“If you diversify, control your risk, and go with the trend, it just has to work.” -Larry Hite. We often hear of trading with an edge, but how do we know for sure we have an edge? How do we know that the odds are in our favor, and that the more we trade,
7 Ways to Trade With An Edge Read More »
There are young people in the market that are really bad traders and there is also old traders that are very good, but there are no old bad traders in the market because they went broke and gave up a long time ago. You might be a bad trader if………. …your primary method
You Might Be A Bad Trader If…… Read More »
If you truly are serious about being a trader then there are seven things that you will have to accept. You will have to accept that over the long term at best only 60% of your trades will be winners. It will be much less with some strategies. Accept that the key to being
7 Things Each Trader Has To Accept If They Want to Trade Read More »
Many times, good traders make the right trade but still lose, but it is okay because they will win in the long term because their method is tested, their risk is managed, and their mind set is right for long term trading success. They have developed the skills of a successful trader. Other times a
Is Your Trading Skill? Or Just Luck? The Difference… Read More »
“There is nothing more important than your emotional balance.” – Jesse Livermore While taking losses is always uncomfortable, Taking them based on a predetermined exit strategy takes away some of the mental pain. Cutting losses when you know you are wrong also limits the size and extent of the loss and the severe pain of
5 Keys to the Mental Game of Trading Read More »
I am long Apple and Google going into Monday morning via in the money weekly options. I will not be one of those people fighting this tape. We are in an up trend, this is a bull market. Prices are going up not down, yes we could reverse, but we
My Thoughts, My Charts, My Picks Read More »
Trade Like a Casino: Find Your Edge, Manage Risk, and Win Like the House Anyone who has driven down the strip in Las Vegas can tell who is rolling in the money – the Casinos! Why do gamblers keep going back, despite losing the majority of the time? A combination of misplaced hope, fantasies about
Trade Like A Casino, Not A Gambler Read More »
There is a big difference between bad traders and good traders, here is what I think separates one from the other: Bad traders continually have the desire to short the hottest stocks with the strongest momentum. What is their reasoning? “It can’t go any higher, this price is ridiculous.” Do
The 5 Mistakes Bad Traders Make Over and Over and….. 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 being a winner. Options
7 Common Mistakes Option Traders Make Read More »
Just like in football, trader’s must play great offense and defense in trading to be successful in the long run. In trading we must be able to do two things: manage our winners and manage our losers. If we can’t play both good offense and defense then we will not win over the long
Why Trading is Like Football Read More »
With most indexes breaking out to multi-year highs after the European debt crises appearing to be kicked farther down the road for now we are setting up for a possible run up into new price territory in many leading names. I am holding three positions going into Monday morning. While
The 700 Club of Stocks: My Top Three Picks Read More »
Contrary to popular belief by the majority of the general population and even investors and traders stocks are not tied to their fundamental values or even the companies that sold the shares to raise capital. Stock prices are tied to simply what the current buyer and seller in the market is willing to exchange ownership
The Mechanics of Stock Price Movements Read More »
Trading is not all fun and games. We do not make money on every trade. It is not like other careers or jobs where you work and then get paid. Our pursuit is more like the life of an entrepreneur. Our idea may work or it may not. The
How New Traders Can Limit Their Pain Read More »
You just can’t beat the person who never gives up.” -Babe Ruth You can read trading books until you are blurry-eyed, you can spend thousands of dollars on seminars, you can try to get successful traders to give you the secret sauce of trading and the holy grail. But, in the end it is simply
The 10 Steps to Trading With Mojo Read More »