Original Source: John Murphy’s Ten Laws of Technical Trading Charts and information courtesy of www.StockCharts.com 1. Map the Trends Study long-term charts. Begin a chart analysis with monthly and weekly charts spanning several years. A larger scale map of the market provides more visibility and a better long-term perspective on a market. Once the […]
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I have been fortunate to get the opportunity to participate in some great stock market environments over the past 30 years. I started in the early nineties building capital and letting it compound. I started as an investor in mutual funds, moved to individual stocks, then high growth stocks and trading price action, swing trading,
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“Losing a position is aggravating, whereas losing your nerve is devastating.” – Ed Seykota In my experience there are three components of trading that have to be managed correctly for the trader to be successful. There is risk management, system management, and mental management. I believe that the majority of the 90% of traders
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With all the fancy charts, fundamental analysis, and experience with price action, you would think that the majority of traders would be profitable. The sad fact is that most are not successful. The majority of all traders contribute to the profits of the minority that are profitable. Even seemingly successful firms like Amaranth and
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Among the mistakes of the new traders that never make it to profitability is the fact that they never develop a filter to enable them to see what really matters in the financial markets. Much of what a new trader is exposed to is just pure noise. Noise does not lead to making money, it
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Too many new traders see stock options as lottery tickets, chips in a casino, or a path to getting rich quick. They are not. They can be used as tools for the transference of risk from one person to the other. They can be used to buy insurance on a portfolio of stocks. Options
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$IWM is breaking out of a year long price base. Are you ready? This is why I am bullish on breakouts: I will be watching the $118.50 level in $IWM next week that coincides with the 1200 level in the Russell 2000 index. A stronger break and close above this level could result