“Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius — and a lot of courage — to move in the opposite direction.” -Albert Einstein “One does not accumulate but eliminate. It is not daily increase but daily decrease. The height […]
Ten Ways to Simplify Your Trading Read More »
1. Identify if you really want to be a trader. Is this truly your desire? Before you can develop persistence and eventually achieve success in the tough trading game, you need to first identify if this is truly what you want to do. If you are only doing this for the money then the odds
6 Effective Ways to Persistently Pursue Trading Success Read More »
If you are just randomly trading what you like with no real underlying system, method or planning then unfortunately your odds of success in the long term are slim. Trading a winning methodology is what creates an edge in trading. Consistently trading a robust system or methodology enables you to trade in a way
A Trader’s Checklist before the Trade Read More »
Trading Is Just Like Gambling. This is the first thing I hear from family, friends, and new people I meet when I tell them I am a trader. What they do not understand, is that I am not the gambler, I am the casino. I trade with the odds in my favor, over and
Ten Trading Myths Explained Read More »
Today, as I look past the fireworks and cook outs and think about what this July 4th holiday in America is really all about: independence for the United States from Great Britain. The colonies sought independence from taxation without representation, independence from a King, and freedom for the states to profit from its own labors
10 Things that Great Traders have Declared Independence From Read More »
In trading as in all other endeavors in life there are people who take full responsibility for their own results and the consequences of their own actions and there are others who blame everybody and everything else for the bad things in their life. There are the winners and
The Winning Trader & The Whining Trader Read More »
Before you launch your trading career or continue it, it is important to ensure that your trading method works. This is where the homework comes in. Chart studies, computer back testing, the study of the success and failure rate of chart patterns, how monster stocks performed historically, and eyeballing charts around specific price action
The reason trend traders make money in the long term, is due to supply and demand, and the flow of capital through equities, currencies, commodities, and future contracts. These tend to trend in one direction or the other at different times. Trend traders and trend followers are ready to capitalize on those trends by letting
Make Money Trend Trading Read More »
For 36 trading days we have been below the $136 price in the SPY, there have been NO buyers above this level, only sellers waiting to take profits. Our first bounce off support after going into a down trend was at the 200 day moving average, not much time for
What a Range Bound Market Looks Like Read More »
Trading in the stock market is like being in a Monopoly game. If there are ten people playing, one person is likely to take everyone else’s money. Trading functions much the same way, with 10% of traders becoming profitable, while the other 90% lose or break even. After studying successful traders from the books by
18 Habits of Rich Traders Read More »