An entry does not determine profitability it only determines potential profit the exit is where the win or loss occurs, focus on that. A robust trading system means nothing unless you can follow it with discipline and self control. Charts don’t care about any one persons opinions why should you? Good trading will make […]

                                                                                                                                                                                                                                      “You adapt, evolve, compete or die.” – Paul Tudor Jones  I do not trade the same way I did when I started actively trading the stock market in the late nineties. The market itself has taught me many lessons about keeping my gains and cutting my losses short. I have traded through one of

                                                                                                                                                                                                                                                                                                            Here are ten questions to ask yourself to see where you are along your own path in the trader’s journey. Are you willing to exit your trade if it gets to a predetermined price level that indicates you are wrong about it? Are you structuring trades through position sizing and stop losses so

        There is a lot of good information, tips, and entertainment floating around on twitter if you can build a high value twitter follow list.  Here are ten tweets that I found to be valuable this week. These twitter accounts are doing it right.   The path of least resistance until proven

                                                                                                                                                                                                                                                                                                            New traders have to learn what to be concerned about and what to ignore. Trading is about managing risk, the right psychology, growth and development, a good trading plan, a robust method, and reacting to what the market is actually doing instead of trying to predict what it will do. To many new

                              In trading there are things that cause you to win in the long term and things that cause you to eventually lose your entire account in the short term. There are ways to manage risk and there are ways to

                                                                                                                                                                                                                                                                                                     Trading is not all fun and games. Traders do not make money on every trade, most don’t even make money on half their trades. It is not like other careers, jobs, or hobbies where you work and then get paid. Our pursuit is more like the life of an entrepreneur. Our idea may

We had a key reversal day back to the 100 day sma and off the 40 RSI on Wednesday October 9th. The next day on Thursday October 10th we had a powerful reversal that gapped to the 50 day and then ran back over both the 10 day sma and the 5 day ema. For

                                                                                                                                                                                                                                                                                                The day the trader stops blaming the markets, politicians, or ‘They’ and ‘Them’ for losses and starts taking responsibility for their own trading could be the day that they begin to change from losing money to making money. In the end the market is like the ocean and we are the surfer, we choose

                                                                                                                                                                                                                                                                                                          One of the toughest thing a new trader will have to do is come back from their first blown up account. Losing 50% or more of an account or even the whole thing is very hard on the new trader’s psychology and nerves. Most never come back form this. There is a big difference

                                                                                                                                                                                                                                                                                                       Two things that many new traders and even experienced traders waste their time on is regret and hindsight. They look at charts and see the past so clearly on them, they should have bought here, they should have sold there. Why didn’t they? The charts look so obvious in hindsight. We really should

What a wild week for the indexes last week. On Monday SPY rested slightly under the 50 day, then Tuesday $SPY collapsed from the 50 day and found support at the 100 day. Wednesday SPY went over the edge as the fear of a stalemate in Washington D.C. reached its zenith, but the SPY was

In over a dozen years of learning what works and what doesn’t in profitable trading I believe there are many paradoxes. Most of trading is counter intuitive and new traders usually enter the market looking for predictions, sure things, hot tips, and to know what to buy. In reality it is following price action as