Successful trading is more about effective management than it is about perfect predictions. Traders who excel consistently over the long term understand the importance of managing various aspects of their trading activity meticulously. Here are seven critical management areas every trader needs to master: 1. Risk Management Paul Tudor Jones famously stated, “At the end […]
The Top 7 Things Traders Must Manage For Success Read More »
They trade too much. The edge that small traders have over institutions, is that they can pick trades carefully and only trade the best trends and entries. The less they trade, the more money they make, because being picky gives traders an edge. Unprofitable traders tend to be trend fighters, always wanting to try to
10 Bad Habits of Unprofitable Traders Read More »
40 steps in the trader’s journey from new trader to rich trader. They are as follows: We accumulate information, we learn- buying books, asking questions, maybe going to seminars and researching what really works in trading. We begin to trade with our ‘new’ found knowledge. We make profits only to give it back very
40 Steps In The Trader’s Journey Read More »
Trading is Really All About Two Things Right Decisions and Wrong Decisions. Most people think they’re playing against the market, but the market doesn’t care. You’re really playing against yourself.” -Marty Schwartz “Pit Bull” It is not the markets that beat us, we beat ourselves. Successful comes from our ability to follow price
What Trading is Really All About….. Read More »
It blows peoples minds on twitter when they start a big passionate argument about why my trade is wrong and I just say, well if I am wrong I will stop out with a small loss and maybe reverse it if I get an entry signal to reverse. No big deal just
You Don’t Need to Be Nostradamus To Make Money Trading Read More »
The stock market is in a powerful uptrend, shorts were hurt last week in their positions. All short term moving averages are bullish with the 5-10-20 all over the next one. Ben Bernanke said what the market wanted to hear and it responded with a buying frenzy. Many leading stocks are making all time
Ten Reasons Why Bulls are Still Bullish Read More »
Where do you begin when you want to start trading the markets? I believe homework is crucial, reading, chart studies, historical prices, risk management, trader psychology, learning from the success stories and professional managers are all key areas to cover. Below are links to some great interviews by top traders that explain their principles of
Five Great Sources For Free Trader Education Read More »
There are many trading principles that are common among successful rich traders. It is important to learn the things that allow them to win so we can follow in their footsteps and make money. There are 10
10 Things A Trader Needs to START DOING if They Want to Make Money Read More »
In Fullerton’s, there were the usual crowd. All grades! Well, there was one old chap who was not like the others. To begin with, he was a much older man. Another thing was that he never volunteered advice and never bragged of his winnings. He was a great hand for listening very attentively to the
It’s A Bull Market, You Know! Read More »
This is a great book on trading because it does not examine just one topic in trading it brings together all the areas of trading one must master in the markets and shows the reader how to turn it into a complete trading system. This book points out that technical
Beyond Technical Analysis: A Winning Trading System Read More »
We are so focused on adding to our trading arsenal with knowledge, books, chart patterns, indicators, moving averages, gurus, securities for our watch list and what ever else we believe will help us make money we forget what we need to remove from our trading routine that does not work. One of the
10 Things A Trader Needs to Give Up if They Want to Make Money Read More »
At some point traders should have that break through day where they are tired of losing and ready to start making money. There should be a day where eyes are opened that what we were doing was just not working. We are ready for change, we are ready to listen, and learn. We
That Day The New Trader Wakes Up Looks Like This….. Read More »
Friday was one of the wildest days I have seen in a very long time, it was hard to determine which head fake was the real move even into the last hour traders were wondering if we would roll over. I have been bearish in recent weeks playing puts off the 50 day line in
7 Signs The Bulls Are Now Winning $SPY $IWM Read More »
Learning to trade is a process, and it is same for everyone. The traders that think they are exceptions to the process of trading education generally learn the hard way that they confuse bull markets for genius or market conditions for skills. It is easy to lose or make money in the markets,
The Five Key Lessons That Give New Traders An Edge Read More »
Some days I wish I could travel back in time 15 years and teach myself what I have learned in the markets the hard way. I was fortunate to make money early on with the benefit of the nineties bull market, I just wished I would have known then how to keep all
10 Things I Wished I Knew When I First Started Trading Read More »
Source Article: Expectancy Positive Expectancy: A system (or game) that will make money over the long term if played at a risk level that is sufficiently low. It also means that the mean R-value of a distribution of R multiples is a positive number. If you’ve read any of Dr. Tharp’s books, you know by
Positive Expectancy Model: It Will Make You Or Break You As A Trader Read More »
In my reading of hundreds of trading books and my endless research on rich traders, I have come across many quotes that are very powerful. These principles could really change the entire dynamic of a new traders plans and methods. Here are my favorite ten that I not only love but have made huge
The 10 Most Helpful Things Rich Traders Have Ever Said Read More »
Yes, the vast majority of traders are gamblers, maybe the majority of market participants are in fact gamblers. The traders that are gamblers trade with no plan and without understanding the odds are stacked against them. Whether it is buying far out of the money options with no method for profitability or randomly chasing stocks
The Difference Between Gamblers and Traders Read More »
In my trading career I do not remember ever seeing this many doji on any given chart. It is very odd that the open and close be so close to each other day after day after day with all the real movement happening in the post market and pre-market. The biggest clues are the two
Doji, Doji, Everywhere Read More »
Dojis, dojis, every where. Truly some strange price action last week in the major S&P 500 index. I bought SPY puts when the price was struggling at the 50 day late Friday in the last 45 minutes and was instantly questioned and criticized on twitter for doing that on a bullish candle, minutes later
The Ten Bearish Facts I See on The $SPY Chart Read More »