I am currently long $TNA from Thursday, $UDOW from Friday, and $SPY from Thursday. At this point in the market the risk/reward favors the longs. I am using end of day stop losses to filter out the intra-day noise and the increase in volatility both ways. My position sizes are big enough that they […]
Key Support Levels For Tomorrow $SPY $QQQ $IWM $INDU Read More »
Never trade based on your own emotions. Trading based on your own greed or fear will put you on the wrong side of the market the majority of the time. To be a great trader you must stay humble. Big egos will
Ten Crucial New Trader Lessons Read More »
So far, so good….. Previous day support holds. Prices close above the previous days high. On the daily chart, the 30 RSI holds by end of day. A new trading range has developed over multiple days. The volatility expansion to the upside is greater than the volatility to the downside.
Some Clues For A Short Term Support Level Read More »
The $DIA, $QQQ, and $SPY are still in long term up trends so far. Only $IWM has broken the long term uptrend by closing below the 200 day. $IWM has been the weakest index and $QQQ has been the strongest. $SPY bounced near the 100 day and 30 RSI Friday. $DIA and $IWM did not
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‘Wisdom of the crowd’: The myths and realities Two Forms of Human Motivation: Gain And Prevent Pain Ride Winners and Cut Losers. Period. Stox & Technical Analysis for Traders Selling Short Online Share Trading: Breaking the Beginner’s Cycle One of the most important things we must
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@canuck2usa trading styles are like personalities – not something one can copy — Cornholio (@RChang6) July 29, 2014 Doji, doji everywhere! — Christopher Ebert (@OptionScientist) July 29, 2014 Forget about trying to be right all the time. Concentrate on making much more when you’re right than you lose when you’re wrong. — Mark Minervini
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A stop loss level should be planned when you enter a trade. This is the price level that if it is reached that you will know that your entry was wrong. You should position size with a share count and dollar amount where if your stop is hit you will not lose more than 1%
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#1Van Tharp On Risk Management #2 The Magic of Compounding Your Returns #3 The Top 25 Trading Books That Helped Readers Make Money #4 The Four Dangerous Internal Emotional Indicators for Traders #5 A Trader’s Most Important Question #6 10 Things A Trader Needs to Give Up if They Want to Make Money #7
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There is an old parable known as “the blind men and the elephant.” In this story, there are four blind men who are asked to determine what an elephant looks like. The first blind man feels the leg of the elephant and says, “The elephant is like a tree because it is large and round
The Blind Traders and the Market Read More »
Momentum trading is generally used to capture strong moves in short time frames usually for not more than a few hours or a few days. Generally momentum traders are very focused on only a few trades at a time at most and scan a large watch list for a few signals. Trend followers by contrast
Momentum Trading Vs. Trend Following Read More »