Trading is more about the trader than the markets. The markets are neutral; they have no agenda and no evil plots to take your money. Each random entry has a 50% chance to win or lose, even with no method attached. The key is getting an edge in your trading. Knowing who you are […]
New Trader, Know Thyself Read More »
Guest post by GG Finances This year American’s New Year gift will be delivered directly from Democrats, and basically on behalf of Obama, who planned the cuts in the budget spending and increase in payroll taxes. In other words, economists and investors are forecasting the so-called ‘Fiscal Cliff’, which is anticipated as en expression
The Fiscal Cliff Americas 2013 New Year Gift Read More »
Reading Nicholas Taleb’s newest book Anti-Fragile really got me thinking about how traders are broken. Traders can become fragile and be broken in several ways: They can quit because they believe that trading successfully is impossible. They can lose half their account or all of their account and just give up. They can become emotionally
Fragile Traders vs. Anti-Fragile Traders. Who breaks First? Read More »
This is a crucial time to remember the 1% rule in this current market environment or better yet stay in cash until a trend emerges. 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
Risk Management in 1 Lesson Read More »
Trading is not all fun and games. We do not make money on every trade. It is not like other careers or jobs where you work and then get paid. Our pursuit is more like the life of an entrepreneur than an employee even for part time traders with full
How to Trade Through the Pain Read More »
Due to the discretionary nature of trend lines I trade using moving averages to identify trends along with support, and resistance levels for price action. I am already a rule based discretionary trader so I do not need to add any more discretion into my trading. I like that moving
Apple’s Sneakiest Moving Average Read More »
“It’s not the daily increase but daily decrease. Hack away at the unessential.” -Bruce Lee Quitting is not always the wrong thing to do. There is a time when you have to decide what you want and go get it, you do not stop your journey to your destination but
Quitters Sometimes Win and Winners Know When to Quit Read More »
You have to love trading to do the work that takes you over the hump to winning. Successful traders are not born, they are built through hard work and discipline. Trading is not complicated, discipline, perseverance, risk management, passion, and a winning method that fits your personality is all you
If Will Smith Was a Trader This Would Be His Advice Read More »
Well it was a wild day today, shorts did very well, longs got clobbered, traders coming into today in cash were pleased with their position unless they went bottom fishing. It was a strange 24 hours with futures gyrating over night deep in the red then it recovered
Todays Chart Action:What I see Read More »
The biggest question I have received today from everyone, new traders, friends, family, even my wife is “What will happen to the stock market if Obama wins?’ or “If Romney wins will the market rally?” How should we trade the election results? …..Don’t. Do not let the results color your
How to Trade the Election Results Read More »