Over the past few years, I have seen many people pass away that I knew well that were still only in their 40′ s or 50’s. It has been almost 12 years since one of my favorite Facebook friends passed away suddenly. The thing I have come to realize after having my 50th birthday, is […]
A Trader’s Most Important Question Read More »
The weakest link to any trading strategy is the trader that is executing it. It is usually the mental and emotional errors of the trader that cause 90% of traders to lose money. Trading success is determined more by the mindset of the trader, than their skills with math, economics, or macro knowledge. The
The 10 Mental Errors That New Traders Make Read More »
Before there was the U.S Dollar acting as the world’s reserve currency there was an almost universally accepted form of money since the beginning of recorded history: GOLD. Paper currencies were originally pegged to gold to give them value. The bearer of the originally paper currencies could exchange it for precious metals, that
The World’s Real Reserve Currency Read More »
SPY has closed below the 10 day sma for 16 straight days now. I prefer to play the long side when we are trading above the 10 day sma. I could take a long position with a close above this 10 day line. We may get this on Tuesday with the looks of
Ten Fast Facts About $SPY and This Market Environment. Read More »
Trading is one of the few professional fields where anyone can go against professionals very quickly and easily by simply opening a trading account. There is no college required, no degree, or apprenticeship needed before a new trader steps up to compete in the world markets against seasoned traders and professional money managers. The 10%
Ten Errors That New Traders Make All The Time Read More »
What were the greatest trades of all time? Here is the list of the who, what, when, where, and how of the greatest trades in the financial markets were made. While the risk management of executing many of these trades is not what many traders would want, we can see many of these as
The Top Ten Trades of All Time Read More »
What if you could read the principles for success for some of the world’s greatest traders? Well you can, here is how author Jack Schwager summed up the the similarities of the ‘Market Wizards’ he spent years interviewing in his second book. The following is a summarized excerpt from Jack D Schwager’s book, The New
42 Ways To Trade Like A Market Wizard Read More »
In my short term trend trading I like to ride winning trends that emerge through key long term resistance and support levels by trailing the trend trade with a short term moving average. My two favorites are the 5 day ema and the 10 day sma to use as my trailing stops in a long
Tesla’s Magic Support Line Since March Read More »
Subjective: Based on or influenced by personal feelings, tastes, or opinions. Proceeding from or taking place in a person’s mind rather than the external world. Subjective traders are intertwined with their trades. Their signals are generally entering out of greed and exiting based on their own fear. They believe in their opinions more than the
Are You A Subjective or Objective Trader? Read More »
There are five key things that make all the difference in profitable trading: Focus on a system with bigger wins than losses, big wins makes robustness a much easier thing to find. A 1:3 risk/return ratio makes it much easier to be profitable even with more losses than wins. Trade in the direction of
Five key things that make all the difference in profitable trading Read More »
In years to come traders and investors will look back at the Tesla chart in hindsight and think how easy it was. Those that traded it will know the reality, that this was a very volatile, choppy, fast moving, gapping up and reversing stock in real time. This was no easy trip to the
The Five $TSLA trading strategies that have worked so far: Read More »
Pretty clear lower highs and lower lows as we entered last week until the battle at the 50 day began. After more whipsawing after the FOMC minutes were released Wednesday we finished down for the day, then Thursday we rallied back over the 50 day and confirmed that move Friday rallying all the way to
The $SPY Weekly Recap Read More »
Poker is one of the very few casino games that’s like trading. Unlike other games where the casino keeps the odds in their favor, in poker there are many ways to get an edge over other players at the poker table. The way you play the odds can give you an edge, folding on bad
20 Poker Quotes that Apply To Trading Too Read More »
Until recently, the high speed nature of trades in certain financial investments such as CFDs and forex meant that only those in banks with specialised equipment could take advantage of the fluidity and flexibility of these sorts of investments. However, now that just about every home and workplace has a high speed broadband connection,
Top Tools for Electronic Trading Platforms Read More »
Forex – or foreign exchange – is a type of financial trading that was once exclusive to traders in stock exchanges with direct access to the latest exchange rates for up-to-the-minute deals. However, the advent of the internet has changed all that. Now anyone with a computer and a fast internet connection can
Making a Start in Forex Trading Read More »
A book review for: TREND COMMANDMENTS by Michael Covel This book is based on the author Michael Covel’s extensive 15-year study of the world’s top trend following traders such as Ed Seykota, Jerry Parker, the Turtle Traders, Larry Hite, and many others. This is not a book filled with Mr. Covel’s opinions, as it’s
The Trend Commandments for Traders Read More »
With all the experiences I had trading Apple options from the long side on Friday over the past few years both with big wins and frustrating losses I decided to truly do a back test to see if the pinning action was as bad as I imagined. In some ways it was, with
Apple Friday Price Pin Statistics Since the Weekly Options Started Read More »
Disciplined Traders Emotional Traders Trade a defined trading plan. Trade based on emotions. Manage risk. The more confident they are the bigger the trade. Exit based on predetermined stop. Exit due to fear. Enter based on a set up. Enter based on greed. Exit a
Disciplined Trader… Emotional Trader… Which are you? Read More »
If you took a penny on the first day of the month and doubled it every day for that month (all 30 days), how much would you end up at the end of the month? One cent, two cents, four cents, eight cents…. but at the end of day thirty you end up with $5,368,709.12!
How Much does A Penny Doubled Every day for a Month End up Being? Read More »
Here is a discussion that happened in my trading group this weekend. Mr. Hertel was kind enough to let me share it with my readers. I think it really answers the core question for New Traders on how to get started trading in a systematic way. For anyone interested in joining a high
What to look for in a Trading System (GUEST POST) Read More »