#1 Trader Know Thyself The first step in a trader’s journey is to do some self reflection and learn their strengths and weaknesses—both internal and external. Do you love the action of day trading or would you prefer holding positions for long period of times letting a trade play out? You must pick a style […]
A Trader’s Journey: 7 Stepping Stones Read More »
There are young people in the market that are really bad traders and there is also old traders that are very good, but there are no old bad traders in the market because they went broke and gave up a long time ago. You might be a bad trader if………. …your primary method
You Might Be A Bad Trader If…… Read More »
“The financial markets generally are unpredictable. So that one has to have different scenarios… The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.” -George Soros While the longer term up trend is in place it is looking wobbly
The Good, the Bad, and the Ugly Charts Read More »
If you truly are serious about being a trader then there are seven things that you will have to accept. You will have to accept that over the long term at best only 60% of your trades will be winners. It will be much less with some strategies. Accept that the key to being
7 Things Each Trader Has To Accept If They Want to Trade Read More »
This morning one of the best short play stocks of the year gapped up on earnings and provided a new opportunity for beat up longs to get out with their shirts and bears a chance to get short at a much better entry price. I took the entry and went
The World’s Ugliest Daily Candlestick Read More »
Who is Dan Zanger? Dan Zanger is the modern day version of the legender trader Nicolas Darvas. His mother Elaine loved the stock market and Dan would often watch the business channel with her. One day in 1978 Dan saw a stock explode across the ticker tape at the bottom of the screen hitting $1.
Who Holds The World Record For Stock Trading Returns? This Guy… Read More »
Many times, good traders make the right trade but still lose, but it is okay because they will win in the long term because their method is tested, their risk is managed, and their mind set is right for long term trading success. They have developed the skills of a successful trader. Other times a
Is Your Trading Skill? Or Just Luck? The Difference… Read More »
“There is nothing more important than your emotional balance.” – Jesse Livermore While taking losses is always uncomfortable, Taking them based on a predetermined exit strategy takes away some of the mental pain. Cutting losses when you know you are wrong also limits the size and extent of the loss and the severe pain of
5 Keys to the Mental Game of Trading Read More »
Apple appears to currently be at a crossroads after today. The Foxconn riot and the 5 million iPhone 5 ‘s sold did not inspire more longs to come in. The stock grew more volatile and could not find its way. The 5 day ema which acts as support in the
The $AAPL Chart Action & Where I Want to go Long Again. Read More »
I am long Apple and Google going into Monday morning via in the money weekly options. I will not be one of those people fighting this tape. We are in an up trend, this is a bull market. Prices are going up not down, yes we could reverse, but we
My Thoughts, My Charts, My Picks Read More »