Chat with Traders Interview: Dr. Steenbarger
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World’s Most Powerful Trading Principles
A book review for Brent Penfold’s book “The Universal Principles of Successful Trading: Essential Knowledge for All Traders in All Markets” This book is excellent for traders that are ready for it. You need a foundation in trading to understand its importance and take the principles seriously. Once you are through the rainbow and butterfly
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Good Traders are Flexible Traders
Flexibility for the trader to move with price action is the key to successful trading. Stubbornness is very expensive in the markets when you are on the wrong side of a trend. You can be rigid with your rules and risk management but you must be flexible when it comes to how the future plays out
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10 New Trader Errors to Avoid
Trading is one of the few professional fields where anyone can go up against professionals very quickly and easily by simply opening a trading account. The barrier to entering the trading world is low and most people can get quick and easy access to trading live markets. There is no college required, no degree, or
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$SPY Chart Facts: 1/22/17
$SPY remains in a long term uptrend but has made no progress to the upside since December 12th staying tightly in a range. Support is currently $225 while resistance is $228. RSI at 58.44 gives room for more upside in the short term. MACD remains under a bearish cross giving a warning of the trend failing to
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Top Trading Articles: Week 1/21/17
Diversification Or Concentration? “Diversification covers up ignorance?” “Trend following performs strongest when bond & stocks are at their weakest or strongest.” Portfolio Rebalancing Might Be Overrated The Most Powerful Force In The Universe
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Top Trading Tweets: Week 1/20/17
Predicting – Thinking you know what will happen next Reacting – If something happens, then you’ll do this Quit predicting, START REACTING! — Rayner Teo (@Rayner_Teo) January 18, 2017 Using fundamentals to trade is like calculating the average rainfall over a decade, to decide whether you need to bring an umbrella out now — Rayner
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How to Trade an Unknown Future
This is a Guest Post by Alex @MacroOps which was originally posted on his site at The Fallacy of Market Prediction and reposted here with permission. Spoon boy: Do not try and bend the spoon. That’s impossible. Instead… only try to realize the truth. Neo: What truth? Spoon boy: There is no spoon. Neo: There
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Differences between Retail and Prop Traders
The following is a guest post by Thiago Ghilardi, founder of Trademetria (https://www.trademetria.com) Would you be happier as a prop trader or retail trader? Understanding the differences between these two could make your trading business more enjoyable and profitable. Along the years, you might need to reconsider your choice depending on several factors like experience level, capital and location. Whether
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10 Things a Trader has to Beat
To be a profitable trader you must overcome these ten things: You must beat the market benchmark you are competing against or you might was well just buy and hold that index. You must beat your emotions by following a trading plan. You must beat your ego by taking losses early when you are proven
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10 $SPY Chart Facts: 1/16/17
$SPY has been inside a trading range since December 9th with $224 support and $227 resistance. $SPY remains in a long term uptrend. With VIX at 11.23 we are in a very low volatility market making it difficult to make money swing trading or trend trading. This is a day traders market. Historically volatility can’t get much
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Top Trading Tweets of Week 1/14/17
There are no perfect entries: Breakout may be false Pullback may never come “Confirmation” may be late Faster you accept, faster you learn — Rayner Teo (@Rayner_Teo) January 14, 2017 A casino doesn’t make money by predicting. They manage their risk and let their edge play out. And it’s the same for trading. — Rayner
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Great Trading Articles: Week 1/14/17
10 Things You Can’t Learn From a Backtest On adding value through return asymmetry — MUST READ. Asymmetry is a commonality among great investors Market Wizard Ed Seykota showed him what the real “Holy Grail” to Trading is Seems like this is one of the hardest things to do as an investor
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Should You Trade As A Business?
The following is a guest post by Adam Beaty of Bullogic http://www.TheBullogic.com) andThe Option Prophet (http://www.TheOptionProphet.com). Should You Trade As A Business? You may not be in the business of trading but that doesn’t mean you shouldn’t start a company to make all your trades under. Even as a hobby, there can be a lot
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Lessons From a Trading Great: Ray Dalio
This is a Guest Post by Alex @MacroOps which was originally posted here Lessons From a Trading Great: Ray Dalio . Ray Dalio is the founder of Bridgewater. Two years ago, Bridgewater surpassed Soros’ Quantum fund for the title of most profitable hedge fund of all time; returning over $46 billion since inception. In your
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My Advice for New Traders
If someone was ready to start trading and had a basic understanding of the markets and asked me for some of my best advice on how they could make money as a trader, this is what I would tell them. Understand that trading is like any other professional endeavor, you will be monetarily rewarded based on the
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10 Dynamics of a Trading Plan
A trading plan expresses specifically how you will execute your trading system in real time with real money. Here are the 10 dynamics that go into creating a trading plan. Entry signal: What price action parameters or technical signals will cause you to enter a trade? How will exit your trade if it is a
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25 Trend Trading Commandments
Here is an great video put together by Trend Following Author Michael Covel covering the winning principles used by the world’s greatest traders. These are not theories or opinions these are the common principles used by these rich traders. This is the kind of video where the viewer may get that aha! moment and then truly
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The $SPY Chart Trading Range: 1/8/17
This market index changed from accumulation to just being traded back and forth since December 9th. The trading range since December 9th has been support at $222.73 while resistance has been near all time highs at $227.75. The long term uptrend is still up as it tried to break out to the upside again Friday.
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My Favorite Trading Articles: Week 1/7/17
Lessons from a Legendary Short Seller If You’re So Smart, Why Aren’t You Rich? Investment, Economics, and Finance Calculators & Visualizations Links
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