How many years of work are you willing to put in to be a successful trader? What percentage of returns on capital is your annual target? What is the maximum percentage of draw down you are willing to endure? How big is the bid/ask spread on your trading vehicle? What percentage of it will make […]
The 15 Key Numbers A Trader Better Know Read More »
This is not a prediction it is just a list of things to look for as possible signs before a market rolls over. Alone these are just possibilities but the probabilities increase as more of the signs are in place. When the RSI gets near 70 on the daily chart for a stock index ETF,
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Forex bucket shops that pretend to be brokers but really trade against you. Many times killing accounts with big bid/ask spreads. Using attractive female photos to push some service off on traders. Trading newsletter writers that don’t even trade. They issue a lot of buy signals then cherry pick the winners to tout to the
10 of the Biggest Con Artists in the Trading World Read More »
$SPY spent 2014 primarily range bound before its recent break out. The 5 day ema has been end of day support for the past 12 days. The 50 day sma has been support since late April. $SPY has broken and closed above the 70 RSI for the second time since year. $SPY is up
Ten Fast Facts On The $SPY Chart & Stocks Read More »
Trend following does not work on stocks The Pro’s Process with Richard Weissman 5 Habits of People With Remarkable Willpower Market Masters: How To Find A Trading Style That Suits Your Personality
Five Trading Links For Weekend Reading Read More »
@GeorgeManiereg @SJosephBurns my proctologist won’t let me trade 3x leverage — martin pfaender (@bigcoveranch) June 6, 2014 @SJosephBurns well maybe I’ll see one in my life time, I have my doubts at this point but who knows. — TraderVA (@NACuser) June 6, 2014 Never fight the Fed or your portfolio turns red $$ —
Tweets Of The Week – 6/6/14 Read More »
I never want to lose more than 1% of my total trading capital in any one trade. I try to put on position sizes where the worst case scenario is a dollar loss equal to no more than 1% of my account. I want to risk 1% to try to make 3% on my capital.
My Risk Management Parameters Read More »
The new trader must win the battle of your ego, of wanting to be right and change it to just wanting to make money and a big part of that is admitting you are wrong quickly. We have to win the battle of wanting to be lazy and instead do the homework required to be
The 10 Battles A New Trader Must Win Read More »
“Trading is easy money, how hard can it be to just buy low and sell high?” The learning curve is steep and the work involved is intense mentally, emotionally, and intellectually. “I have a few thousand dollars, I will turn it into a million dollars quickly.” The bigger the attempted return the higher
Ten Wrong Thoughts New Traders Have Read More »
With all the perma bull fan fair we are sitting on a 4.33% return in 2014 for $SPY and it has been a choppy ride up with plenty of whip saws. I know many swing traders and day traders that are out performing buy and holders and trend followers. The 50 day sma has
5 Fast Facts About the $SPY Chart Read More »
This Disciplined Trader: Developing Winning Attitudes by Mark Douglas via Matthew Smith Eliminate All Hero Worship Too Many Faders, Not Enough Fade Short-Term Trading Techniques with CQG’s Time-Based TFlow®
Weekend Reading for 5/31/14 Read More »
@SJosephBurns style agnostic….also keeps you nimble as not everything works all the time…important to adapt to opportunities mkt gives u — Al Sabogal (@alsabogal) May 24, 2014 Leave that to the academics, we’re here to make money, those rules don’t apply. Plenty of smart people out there never made a dime trading. — Jon
Tweets of the Week – 5/30/14 Read More »
Too many traders enter the markets with the get rich quick scheme, the delusion that trading is an easy way to make money, or too lazy to put in the effort it will take which is measured in years to be successful not hours. New traders need to focus completely on surviving that first year
How To Survive That First Year Trading Read More »
“There are just four kinds of bets. There are good bets, bad bets, bets that you win, and bets that you lose. Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future, when the odds will
The 17 Differences Between Good Trades & Bad Trades Read More »
Their entry parameters have a historical edge that gives them a real probability of profitability. They are profitable becasue their winning trades are bigger than their losing trades over long periods of time. This is either due to a high winning percentage or really big wins when they are right. The successful traders know
The 10 Key Elements Of A Successful Trader Read More »
$SPY has not closed beneath the 50 day sma in 27 trading days. This is our line of support. The 50 RSI on the daily chart has been our support level as well these past 27 days. With about a 3% return in $SPY this year the risk of long equities has really not been
Ten Observations About The Current Market $SPY Read More »
This book is written by a real market master. It is written by a professional trader who made high double digits returns every year for over a decade, making high 6 figures in profits each year. So you do not have to worry about him telling you personal theories or trying to advertise his newsletter
Victor Sperandeo’s Trading Book Review Read More »
Excellent Book Review of High Probability Trading by Marcel Link via @MomentumCapital Managed Futures suffer record performance losses, record outflows 7 Things Real Million Dollar Traders Do
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@RetroWallSt that’s it. im going to cancel your service, end your coaching sessions, return your dvds & opt out of your newsletter. — Alan Farley (@msttrader) May 22, 2014 PRO TIP: Having bad credit is the best way to prevent identity theft. — Joseph Fahmy (@jfahmy) May 22, 2014 PRO TIP: My Pro Tips
Tweets of the Week – 5/23/14 Read More »
There is so much bullshit with traders on social media that new traders have trouble seeing what is valuable and what is noise and confusion. Salesman abound with subscription services and playing make believe like they never lose. The vast majority of traders are pretenders, they have not done the homework to be
Here Are Ten Real Deal Trading Professionals On Twitter –> Read More »