Traders hear the terms “buy fear and sell greed” over and over again. However, these sayings are meaningless outside the context of specific price action. Here is some context: Fear is not a buy signal. Fear can set up a dip buying signal with a good risk/reward ratio, or a short side trade out of […]
Emotions Are Not Trading Signals Read More »
Why do smart traders do dumb things? It is usually an issue with overwhelming emotions, and not intellect, when bad trades happen. Here are a few of the primary reasons that traders struggle. ~The biggest cause of trading a position size that is too big? It’s the greed of wanting the big win that makes
Why Traders Do Dumb Things Read More »
Early on, new traders will want to give up. Particularly when they figure out that the first few years are more about studying and paying tuition in losses, than in making money. Trading is a two-sided competition, and you have to be on the right side of the trade to make profits. Not only does
7 Reasons to Never Give Up Trading Read More »
Every Spring, it rains in Nashville. A lot. This Spring is no different, with torrential rains flooding our neighborhood. It’s annoying when it happens, and sometimes, even dangerous. But ultimately, it brings us necessary rain, and almost always gives us something very special: a rainbow. A rainbow is a sign of new beginnings, and
What Rainbows Can Teach Us About Trading Read More »
This is a GUEST POST from Rolf @Tradeciety. The exciting start Do you remember how you got started in trading? Everything seemed possible, and you were ecstatic about the possibilities that trading offered, but what happened afterwards? This article will help you understand the different phases almost all traders will go through, why they are
The Life Cycle of the Typical Trader Read More »
With so many people on Twitter looking for a trading book or book recommendations by @canuck2usa, I have decided to compile a list of his tweet recommendations. I have read many of these myself, and they are truly some of the best. These are a great mixture of Elliott Wave, options, momentum trading, psychology, risk management,
DK1 @canuck2USA Says Read These Books Read More »
What makes traders risk it all? I think this is something built in, something very primal, very ancient. Men generally risk it all because we have little patience. We are the hunters, the breadwinners, and the providers. If we aren’t willing to risk our lives
Why Traders Risk it All Read More »
“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
Trading Lessons I Learned the Hard Way Read More »
Even though the Midwestern United States is a hazardous place to live due to inclement weather, people continue to build there. Why? Because despite the risks, they find value in being there. So what do they do? They build strong foundations that can weather the storms. Trading Plan (Blueprints)– Before you start your trading journey,
Strong Foundations Weather Storms Read More »
“Don’t ever let them get into your pocket.” – Paul Tudor Jones Here are the errors we make that cause the market to take our money: Traders miss a trade setup, then take it late in the move. Chasing a trade is rarely a good decision. Buy right or sit tight. Traders buy a dip
Why the Market Takes Money From Traders Read More »