Trading is more about the trader than the markets. The markets are neutral; they have no agenda and no evil plots to take your money. Each random entry has a 50% chance to win or lose, even with no method attached. The key is getting an edge in your trading. Knowing who you are […]
New Trader, Know Thyself Read More »
Guest post by GG Finances This year American’s New Year gift will be delivered directly from Democrats, and basically on behalf of Obama, who planned the cuts in the budget spending and increase in payroll taxes. In other words, economists and investors are forecasting the so-called ‘Fiscal Cliff’, which is anticipated as en expression
The Fiscal Cliff Americas 2013 New Year Gift Read More »
Reading Nicholas Taleb’s newest book Anti-Fragile really got me thinking about how traders are broken. Traders can become fragile and be broken in several ways: They can quit because they believe that trading successfully is impossible. They can lose half their account or all of their account and just give up. They can become emotionally
Fragile Traders vs. Anti-Fragile Traders. Who breaks First? Read More »
This is a crucial time to remember the 1% rule in this current market environment or better yet stay in cash until a trend emerges. The very first rule we live by is: Never risk more than 1% of total equity on any trade. -Larry Hite (Market Wizard) I try very hard not to risk
Risk Management in 1 Lesson 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 than an employee even for part time traders with full
How to Trade Through the Pain Read More »
Due to the discretionary nature of trend lines I trade using moving averages to identify trends along with support, and resistance levels for price action. I am already a rule based discretionary trader so I do not need to add any more discretion into my trading. I like that moving
Apple’s Sneakiest Moving Average Read More »
“It’s not the daily increase but daily decrease. Hack away at the unessential.” -Bruce Lee Quitting is not always the wrong thing to do. There is a time when you have to decide what you want and go get it, you do not stop your journey to your destination but
Quitters Sometimes Win and Winners Know When to Quit Read More »
You have to love trading to do the work that takes you over the hump to winning. Successful traders are not born, they are built through hard work and discipline. Trading is not complicated, discipline, perseverance, risk management, passion, and a winning method that fits your personality is all you
If Will Smith Was a Trader This Would Be His Advice Read More »
Well it was a wild day today, shorts did very well, longs got clobbered, traders coming into today in cash were pleased with their position unless they went bottom fishing. It was a strange 24 hours with futures gyrating over night deep in the red then it recovered
Todays Chart Action:What I see Read More »
The biggest question I have received today from everyone, new traders, friends, family, even my wife is “What will happen to the stock market if Obama wins?’ or “If Romney wins will the market rally?” How should we trade the election results? …..Don’t. Do not let the results color your
How to Trade the Election Results Read More »
As the U.S. presidential election approaches the market is in “wait and see mode” with key resistance and support levels. While it is possible to trade these ranges for those that have the desire to be active there is always the option of waiting in cash for a trend to
We are Range Bound & Here’s the Range Read More »
Let’s get some perspective here before we believe Apple is going out of business or that the stock is going to $300 or a 6 P/E ratio. The indexes are holding up very well, the $QQQ is at the 200 day support, The $SPY is holding up at $140 like a champ, and
My Key Chart Levels for APPLE Read More »
In trading, activity alone does not make money, the right activity at the right time is what makes money. Many times the right thing is to do nothing. Over trading is one thing that causes traders to lose money. You can not make money every day in every trade. Every
The 4 Things A Trader Has To Know Read More »
In the markets there are many different types of traders and many motivations that drive them. Everyone has heard of different types of traders based on their trading method: Swing Traders, Day Traders, Momentum Traders, etc. But what about different types of traders based on their psychology, their purpose And motivation? Some trade for
Ten Different Types Of Traders. Which One Are You? Read More »
The great thing about the modern social media world is that we have the ability to connect with like minded people. While being facebook friends and following traders on twitter it is amazing how like minded many of us are. There are ten interests that are very common among traders
10 Things You Might Like If You Are a Trader Read More »
Where is the Apple that we use to know? It is crucial that we stay mentally flexible and trade what the chart is saying. Anything could happen next week. Apple could reverse and make a run for the 50 day as institutions start loading up at bargain prices or if we lose the 200 day
The $AAPL Chart Speaks: 7 things it is saying Read More »
Since the whole world is waiting on Apple earnings I felt I had no choice but to tell my blog readers how I see it. I have good news and I have bad news, which would you like first? Okay I will give them both to you straight. The bad
$AAPL The Good News & The Bad News Read More »
When you first get the big idea that you want to be a trader, you’re excited. Maybe you’ve finally found the road to easy money, you can be your own boss, do as you please, and all with the possibility to make a huge income. You can also start part time and
6 Things To Help You Keep Trading, When The Trading Gets Tough Read More »
I believe the imminent death of the Apple up trend has been greatly exaggerated. The hopes that it will crash and trade at an 8 P/E or be worth only 4 times cash on hand is a very low probability event. The extreme bearishness is simply absurd based on fundamentals,
Apple:12 Reasons Why The Fat Lady Hasn’t Sung Yet Read More »
“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” -George Soros One element of trading that is over looked as traders chase hot stocks, trends, and chart patterns is the importance of taking
Trading:The Secret Sauce Read More »