PostHeaderIcon 15 Things That Cost Traders a Lot of Money

Ten Things That Are Expensive For Traders.

  1. Egos.

  2. Emotions.

  3. Not respecting the mathematical risk of ruin.

  4. Gurus.

  5. Television.

  6. Trading without a methodology.

  7. Trading with no trading plan.

  8. Stubbornness.

  9. Trading without a stop loss.

  10. Trend fighting in your time frame.

  11. Over trading.

  12. Taking bad entry set ups.

  13. Copying someones trades with no knowledge of their position sizing or time frame.

  14. Not knowing how to take profits in a winning trade while they are there.

  15. Not doing the proper homework before trading.

PostHeaderIcon Ten Fast Facts About The $SPY Chart 9/14/2014

  1. The last four trading days has been in a $200.55 resistance and $198.56 support range hardly a down trend of bearish.

  2. The long term up trend is still intact and price is still within striking distance of all time highs.

  3. The 21 day ema has acted as end of day support since that line was broken above 22 trading days ago.

  4. Price is still over the 50 RSI which is bullish. From the end of April through the end of July the 50 RSI acted as end of day support.

  5. Since August 20th $198 has held as support intra-day. Since August 21st $199 has held as end of day support.

  6. The 50 day sma is the next line of support and if we go their is a very high probability bounce zone. The buy the dip crowd is likely lined up there.

  7. The 21 day ema and 50 day sma are both still up sloping trend lines.

  8. I am still long this market using $SPY and $TNA with tight end of day stops. A close below the 21 day ema is my $SPY stop and a close below the $IWM 50 day sma is my $TNA stop. I have on my full position size here.

  9. Naturally uncomfortable trades are usually the best trades, because you are positioning yourself ahead of the crowd not behind it. The bearishness I hear all around me on social media makes me glad becasue that means that most went home flat Friday or they are already out. So the odds are in favor of them having to get back in next week. We’ll see.

  10. The market is right at the crossroads. For the short term uptrend to stay intact the key support convergences of $199, the 50 RSI, and they 21 day ema need to hold up or at least recover by the end of the day if lost or we will have a sign of some trouble in the short term time frame.


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PostHeaderIcon Top Trading Tweets of the Week 9/12/14


PostHeaderIcon Ten Annoying Things That Traders Do On Social Media

 Ten Annoying Things That Traders Do On Social Media 

  1. Attacking another trader’s position without understanding the time frame or the position size of one of the trade.

  2. Trying to be a teacher of trading when they should still be students.

  3. Trying to make a living off selling services to traders and not even trading their own accounts.

  4. Thinking that their way to make money in the markets is the only way.

  5. When they think because they failed at trading that no one else can do it profitably.

  6. Projecting their own weaknesses and internal problems on others.

  7. Picking fights with others out of their own ignorance.

  8. Blaming HFTs, The FED, the government, Market Makers and anything they can instead of taking responsibility for their own trading.

  9. Trying to tear people down to make themselves feel better.

  10. Being a bitter bear in a bull market or a loud bull in a bear market.