Jack Schwager has personally interviewed the greatest traders of our time. He has published several timeless classics, among them my favorite trading book of all time “Market Wizards”. I was thrilled when I heard that Mr. Schwager had developed his own technical indicators, and they were available through TradeShark.com. TradeShark was generous enough to set me […]
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The common held belief in the trading world is that 90% of traders are not profitable long term. This was based off some old studies of brokerage accounts. I read the original source article long ago in a trading book that referenced it. Other more recent studies seem to have found that the failure rate
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Thou shalt have no opinion other than price action. Thou shalt not make for yourselves any prediction, forecast, hope, or fear that causes you to trade against the market’s trend. Thou shalt not deviate from your written trading plan or trading rules. Remember your original stop loss to keep your losers small. Honor your entry
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“You adapt, evolve, compete or die.” – Paul Tudor Jones Learning to trade is an evolution of trader and system. You have to continually learn and grow as a trader. The markets are dynamic and we must continual learn to refine our system. Our losses must be our lessons, our wins must be our
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Over the past four months, $SPY has primarily been in a $203.50 support and $212.00 resistance price range. $SPY is only up 2.52% year-to-date, which creates little room for trend trading or swing trading. This year’s gains in $SPY have come from buying the deep dips and selling into strength. Selling stock index ETFs
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Stop making unnecessary mistakes. 9 tips to improve your risk management – http://t.co/nOYVZah1t1 — Tradeciety – Rolf (@Tradeciety) May 2, 2015 How we can succeed at trading by not trading: http://t.co/3ESr9tL8lQ $STUDY @PeterLBrandt #tradingpsychology #trading — Brett Steenbarger (@steenbab) May 2, 2015 Trade Setups: Understanding the Backtest http://t.co/jw73veRRhN by @andrewnyquist $STUDY — See It
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The big money is made by holding positions not daytrading — DK1 (@canuck2usa) May 1, 2015 Best thing I read today: “Money managers aren’t paid to forecast. They are paid to adapt.” — Henri Simoes, trader (@TraderHMS) April 30, 2015 There are 3 situations the market bottoms in: 1) You sell it. 2) You
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Trading is difficult because no method, system, or style works in all markets, all the time. Profitability is primarily a result of losing small when you are wrong, and maximizing profits when you are right. Knowing and trading your edge is the best path to profits. Here is who makes (or loses) money in different
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Even though the Midwestern United States is a hazardous place to live due to inclement weather, people continue to build there. Why? Because despite the risks, they find value in being there. So what do they do? They build strong foundations that can weather the storms. Trading Plan (Blueprints)– Before you start your trading journey,
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“Don’t ever let them get into your pocket.” – Paul Tudor Jones Here are the errors we make that cause the market to take our money: Traders miss a trade setup, then take it late in the move. Chasing a trade is rarely a good decision. Buy right or sit tight. Traders buy a dip
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