This post is courtesy of StockCharts.com. Image via Shawn Rossi I must admit, I am not smart enough to have devised these ridiculously simple trading rules. A great trader gave them to me some 15 years ago. However, I will tell you, they work. If you follow these rules, breaking them as infrequently as possible, […]
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There are many paths to trading profitability, but all the paths have similar steps. Here are some important steps you must follow on your path to profitability. The amount of success you have in trading is primarily based on the amount of homework you do. You must develop a winning trading system that is
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The $SPY return for 2015 year-to-date is 2.96%; this is a range bound market. For the past four months, $SPY support has been $203.50 with $212.50 as resistance. $SPY closed above long term resistance on Friday for the first time. However, momentum breakout signals have low success rates in range bound markets. The MACD
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Saturday morning $STUDY session. Great piece on how to think about position sizing by @ivanhoff http://t.co/WuudtuctLB — Dave Kelly (@EVplusEV) May 9, 2015 The Buffett Formula — How To Get Smarter http://t.co/4Cqovdy4Mh pic.twitter.com/OC2bZarsCI — Shane Parrish (@farnamstreet) May 9, 2015 My @Forbes interview with Charles Kirk and why tenacity is key to trading success:
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How do we know people shorted into the hole? Sentiment. Here was sentiment on $RUT futures yesterday. pic.twitter.com/qTe1dwnqMF — Northy (@NorthmanTrader) May 8, 2015 Ahh, the good ole days. That doesnt work anymore Ralphie boy, that's so 90s. These days u buy the flush. #BTFD https://t.co/93oKhnVzip — JE$US (@WallStJesus) May 8, 2015 If income inequality
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Jack Schwager has personally interviewed the greatest traders of our time. He has published several timeless classics, among them my favorite trading book of all time “Market Wizards”. I was thrilled when I heard that Mr. Schwager had developed his own technical indicators, and they were available through TradeShark.com. TradeShark was generous enough to set me
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The common held belief in the trading world is that 90% of traders are not profitable long term. This was based off some old studies of brokerage accounts. I read the original source article long ago in a trading book that referenced it. Other more recent studies seem to have found that the failure rate
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Thou shalt have no opinion other than price action. Thou shalt not make for yourselves any prediction, forecast, hope, or fear that causes you to trade against the market’s trend. Thou shalt not deviate from your written trading plan or trading rules. Remember your original stop loss to keep your losers small. Honor your entry
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“You adapt, evolve, compete or die.” – Paul Tudor Jones Learning to trade is an evolution of trader and system. You have to continually learn and grow as a trader. The markets are dynamic and we must continual learn to refine our system. Our losses must be our lessons, our wins must be our
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Over the past four months, $SPY has primarily been in a $203.50 support and $212.00 resistance price range. $SPY is only up 2.52% year-to-date, which creates little room for trend trading or swing trading. This year’s gains in $SPY have come from buying the deep dips and selling into strength. Selling stock index ETFs
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