“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…
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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
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@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 wealth can
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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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Chart courtesy of StockCharts.com The long term up trends last level of support is at the 200 day sma. A close under the 200 day will have me shifting to shorting rallies from buying the dips I have been doing since January of 2013. The long term oscillator support of the 30 RSI is
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Correction Road-map – You Are Here Sometimes, Stocks Go To Zero An Antifragile Way of Life Easy Pieces on Risk, #1 – Why is volatility a proxy for risk? Market Wizard Ray Dalio
5 Great Trading Articles For Weekend Reading 10/11/14 Read More »
A little late tho…I called it on 9/25 ► http://t.co/qltsdEGIeP RT @IBDinvestors: IBD's market outlook has been in correction since 10/1 — Mr. Breakout (@sharptraders) October 10, 2014 Very limited flight to bonds. Flight to cash? — Mike Valletutti, CTA (@marketmodel) October 10, 2014 @marketmodel I didn't want one…just saying :-> — Al Sabogal (@alsabogal)
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I am very picky about who I follow on twitter. I am always looking for the best of the best for quality education, honesty, trades, and entertainment. I have looked, followed, un-followed, and re-followed for years to come up with this of traders that I truly enjoy following and find great value in them.
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Too many times on social media I get feedback from traders that misunderstand how I trade. Many times they even show that they do not understand what successful trading even looks like. Sometimes they are just lashing out because they were trading against me and do not understand how the market did not follow
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Are you trading without a plan? Trading without a plan makes you emotional and a gambler. Do you ever trade too big for your trading account size? Big trades are bad trades for the emotional engagement and risk of ruin that they entail over the long term. Do you risk losing more if you
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In the past year the 30 RSI indicator has been the bounce zone for the Russell 2000. Even when this level is lost it has been recovered by the end of the day in the majority of incidences. This is the bounce zone from a technical standpoint. This also still correlates with recent low prices
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The market did finally bounce intra-day near the 30 RSI Thursday it was quick and violent and sent shorts covering. This indicated we were still in a long term up trend and buy the dip was still alive. Thursday also provide a strong reversal candle showing selling was exhausted and buyers were back in
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Guest blog: decisions for success The Competition is Lazy How To Be A Lucky Trader 11 Ways To Be Remarkably Average https://www.youtube.com/watch?v=O7cpNdyku6E&feature=youtu.be&list=PLC5042C649CE7FFB3
Five Great Trading Links For Weekend Reading 10/4/14 Read More »
stealing this. RT @JustinWolfers: The problem with the joke about the Efficient Markets Hypothesis is that I assume you've already heard it. — Downtown Josh Brown (@ReformedBroker) October 1, 2014 @SJosephBurns yesterday lol pic.twitter.com/WuosRLW0NR — Mella (@Mella_TA) October 3, 2014 I feel like its time for me to break out the old "If your
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Are you guilty of one of the cardinal sins of trading? Hubris: A foolish amount of pride or overconfidence. No matter how good of a trader you think you are, the market is always bigger. You will not win an argument with its price action no matter what. Fear: Cutting winners short because
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