After the hundreds of trading books I have read and spending thirteen years actively managing my accounts I still consider Jack Schwagers Market Wizards Series the best of the best. Why? His trading books are not based on theories, opinions, predictions, or beliefs, he goes down a completely different path. […]
Interviews with the Trading gods. Read More »
The very first rule we live by is: Never risk more than 1% of total equity on any trade. -Larry Hite (Market Wizard) I try very hard not to risk more than 1% of my portfolio on a single trade. –Bruce Kovnar, (Market Wizard) One of simplest lessons that a trader can learn to ensure long term
Risk Management for the Trader in 1 Lesson Read More »
If you want to come out as the winner in your trading adventure let the charts be your guide. For me the charts biggest translator is the moving average. It works so well because it is based on the one thing that matters the most: PRICE. But it smooths all the price noise into an
Ten Tips for using Moving Averages in Trading Read More »
My trade going into the Greek elections is to stay in cash as I have been almost all week. I am not disappointed this week I will let the day traders make their money in this market and watch the bears get mauled by central bank interventions while I sit
My Trade Going into the Greek Elections Read More »
With the powerful reversal off the $SPY 200 day and then the comeback after the reversal day I am ready to go long. The European Union headline risk was hanging over the market causing a lot of uncertainty and confusion but with the loan to the Spanish banks approved much of this will
My Next Buy Point and My Watch List Read More »
The free markets do not give up profits easily. The vast majority of all traders lose money over the long term. Many studies say it is as much as 90% that are net losers after all their trading. Even investors can work very hard to end up at even after a brutal bear markets takes
Ten Things that the Markets Reward Read More »
It is easy to become obsessed with adding to our trading arsenal with knowledge, books, chart patterns, indicators, moving averages, and gurus, that we forget to analyze what we need to remove from our plan. One of the largest determining factors as to whether a new trader ends up as a winning trader, is how
10 Things A Trader Needs to Give Up Read More »
When I find a stock that I want to short, how do I trade it? My opinion about a short is not sufficient for a trade, the chart has to agree with me or I have to wait until it does. Here are the charts of four profitable short plays I had this year. While
World’s Easiest System for Trading the Short Side Read More »
A down trending market is not the same as a range bound market or a bull market.The loss of the 200 day moving average and it not being retaken by the close is a big red flag for the potential beginning of a bear market. Bear markets do not have defined supports they can fall
10 Tips on How I Trade a Downtrending Market Read More »
I love facebook, I think it had all the potential of being a monster stock. Unfortunately, Zuckerberg and company were able to wait long enough, (8 years) and then to issue enough shares (2.14 Billion) at a high enough price ($38) to leave no money on the table for retail investors. Traditionally a growth company
Top Ten Reasons I am Short Facebook Read More »