The $SPY chart is still in a long term uptrend. $SPY has settled into a short term price range $SPY is not respecting the 5 day ema or the 10 day sma so trend trading on the daily chart is not working here. For 12 out of 13 days after the gap up to […]
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Only to the extent that man exposes himself over and over again to annihilation, can that which is indestructible arise within him.-Durkheim — Ray C. Freeman (@R2RayCFreeman) January 6, 2014 Can’t remember the last time I read
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The primary eleven day range is $182 support/$184 resistance. The one day gap up break above $184 was rejected so far. ^Short term $SPY is currently range bound. The long term up trend is currently still strong and in place. $SPY opened at the highs of the day and could not find any buyers
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14 Emotional Dangers For Traders Anger- Revenge trading Fear- Inability to take an entry or hold a winner in a trend. Disgust- Can lead to loss of a traders confidence. Happiness- Surprisingly can lead to trading too big and taking on too many positions. Sadness- Can lead to having difficulty taking the next trade entry
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In the capital markets money flows in these continual directions… Money flows from those that do not know how to manage risk to those that do. Profits flows from those who fight trends to those who follow them. Money flows from those who buy option contracts that have terrible odds of being profitable to
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System What type of trader will I be? Swing, trend trader, trend follower, day trader, Elliot Wave, Fibonacci, CAN SLIM, option trader, another, or a combination? What time frame will I be trading on? What are my trading rules? What signals my entry? What will signal my exit? Do I use a trailing stop or
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Longer term uptrend still very healthy and intact, long term trend followers have been able to let long equity positions run for over a year now. Short term we are still a little overbought here and it would be healthy for a retracement to the 21 day or 50 day or some base building in
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@SJosephBurns my two mentors were most humble yet confident and focused in front of the screen, never arrogant — Conquest (@ConquestFund) January 3, 2014 How new traders start out –> pic.twitter.com/PP61JgrW8d — Steve Burns (@SJosephBurns) January 3, 2014 "I became over-confident, and that is the most dangerous state of mind anyone can develop in the
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A great conversation broke out in my trading group over the past few days when one member asked: “I have a question for some of you guys….right now I’m a part time trader with a full time job. I’d love to be
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