Alan Farley’s Golden Rules for Traders
Alan Farley’s Golden Rules for Traders Read More »
Trading Rules From A Professional Trader
Professional trader Richard Weissman was generous enough to post his trading rules in my facebook trading group and also gave me permission to share them with my blog readers. I have grown in my trading this year interacting with Richard and watching how he trades. He is also very generous in sharing his wisdom with
Trading Rules From A Professional Trader Read More »
A Dozen Fast Facts About the $SPY Daily Chart
I sold my personal $SPY position on Thursday at the end of day. I did this because for the trend to have continued on the daily chart it had to start building another price base or go parabolic to $175 or $180 if it did not continue up then the odds were that it would
A Dozen Fast Facts About the $SPY Daily Chart Read More »
My Ten Pieces of Advice For New Traders
If someone was ready to start trading and had a basic understanding of trading and the markets and asked 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
My Ten Pieces of Advice For New Traders Read More »
50 Trading Rules from Linda Raschke
Ms. Raschke was recognized in Jack Schwager’s critically acclaimed book, The New Market Wizards as one of the best traders in the world. Last posted in Tischendorf Letter Linda Bradford Raschke produces six figure incomes from her trading,
50 Trading Rules from Linda Raschke Read More »
My Recent $SPY Trade Step-by-Step
For the sake of simplicity, all dollar amounts are rounded in this blog. My #1 entry spot was with a break above the 10 day on September 4th, 2013 ($130,000 Position size 50% of account). This was the first day out of 18 that price broke over the 10 day line. In essence, this was
My Recent $SPY Trade Step-by-Step Read More »
What A Market Wizard Taught Me About Moving Averages
A big thing that trips up new traders is they get an entry signal at a breakout or a bounce off a key moving average like the 50 day simple moving average but have trouble quantifying how to let the it run if it is a winner or cut the loser short if it goes
What A Market Wizard Taught Me About Moving Averages Read More »
The 7 Expensive Bad Habits of New Traders
The 7 Expensive Bad Habits of New Traders Trading with no stop losses. You can’t control your profits but you can control and limit your losses with a planned exit. Not having an exit plan can be very expensive when a trend takes off against you and you
The 7 Expensive Bad Habits of New Traders Read More »
Ten Fast Bullish Facts About The $SPY Chart
SPY has closed above the 5 day ema for eight straight days. The 50 day was broken through to the upside and has held. The 10 day was broken and price moved with momentum far above the 10 day line. Eight out of nine straight trading days have seen higher highs in SPY. The $VXX
Ten Fast Bullish Facts About The $SPY Chart Read More »
The Ten Things I Learned Trading The Last Ten Years
I have been fortunate to have had a great string of success trading over the past decade from 2003-2013. How I trade today was primarily learned by making mistakes in the late nineties up to 2002. I have always had a knack for getting on the right sides of great trends at the right time.
The Ten Things I Learned Trading The Last Ten Years Read More »
Answer These Questions Before You Trade
If you are randomly trading based on a hunch, with no real underlying system, then your odds of success in the longterm are slim. The systematic trading of a winning methodology is what creates an edge in trading. Consistently trading a robust system or methodology enables you to trade in a way that wins in the
Answer These Questions Before You Trade Read More »
The Current High Probability Entry Point for Facebook
Each stock is different with how it reacts to support and resistance levels and what what moving average support it gets in an up trend. Facebook has not been an overly powerful momentum stock, the chart looks like one under steady institutional accumulation. Facebook is not a stock that you must buy at break
The Current High Probability Entry Point for Facebook Read More »
What Makes Money In the Markets & Some Performance Histories of Methods
Before you launch your trading career or continue it, it is important to ensure that your trading method works. This is where the homework comes in. Chart studies, computer back testing, the study of the success and failure rate of chart patterns, how monster stocks performed historically, and eyeballing charts around specific price action back
What Makes Money In the Markets & Some Performance Histories of Methods Read More »
7 Reasons Why Trading Smaller Is Better
Do you want to drastically improve your trading? Simple, TRADE SMALLER, risk less, cut losses sooner, but still let winners run. The 1%-2% maximum risk per trade rule can dramatically improve your trading by limiting draw downs and still leaving the upside open for big winners. When you risk smaller amounts of your
7 Reasons Why Trading Smaller Is Better Read More »
Ten Golden Trading Rules That Can Help New Traders
Ten Golden Trading Rules That Can Help New Traders Never add too a losing trade. In adding to a losing trade you are already wrong but now become more wrong with a bigger trading size. Adding to losers makes you a counter trend trader that usually ends badly. Never lose more than 1% to
Ten Golden Trading Rules That Can Help New Traders Read More »
Reacting versus Predicting in Trading
Most of the best traders I have read about and know of personally do not predict what will happen they trade what is happening. New traders always want to predict, they want to argue about their beliefs and why something must happen or will happen. Most rich traders are rich because they are
Reacting versus Predicting in Trading Read More »
A Dozen Fast Facts About The Current Market Action $SPY
$SPY was able to trade above the 10 day for 4 straight days which was previous resistance. For six days the 100 day held as support before $SPY made a run for the 50 day. For Four straight days $SPY has made higher highs each day versus the previous day. Last week $SPY successfully
A Dozen Fast Facts About The Current Market Action $SPY Read More »
7 Good Ways To Exit a Trade
In trading, the money is not made in the entry, it is in the exit. The art of the exit is crucial to a trader’s success in the markets. Profits can disappear if you do not take them at the right time, and small losses can become huge losses if you do not cut them
7 Good Ways To Exit a Trade Read More »
Option Traders 7 Common Mistakes
“Fish see the bait, but not the hook; men see the profit, but not the peril.“ -Chinese proverb Options are both one of the greatest wealth building tools ever created and a quick way to lose all your trading capital if you over leverage and disregard the odds of your trade. Options can literally
Option Traders 7 Common Mistakes Read More »