This is a top notch book on the psychology of trading. It directs the reader to the core of what it takes to maintain the right mindset as a trader. Traders share the same stressors that entrepreneurs have and must manage the mind first before the money can really flow. A trader must continue to […]
If Buddha was a Trader Read More »
Secret to escaping slavery is thru education & SAVINGS. When ur no longer living paycheck to paycheck u have choice. And choice is freedom! — Modern_Rock (@modern_rock) April 4, 2016 Make a plan. Execute the plan. Stick to the plan. If plan doesn't work: admit & learn from mistake then make new & improved plan.
Top Trading Tweets of the Week 4/8/16 Read More »
So many new traders come in with only the thoughts of profits dancing in their heads. This is equivalent to a football team only focusing on scoring points, and not planning their defense. In trading, you must play both sides of the ball. A boxer has to punch so they can win and also block
Offensive and Defensive Trading Read More »
This market has been range bound since 2014: From the 4Q ’14 till 1Q of ’16, the SPX gained a total of 0.84 points … yet moved nearly 5k points. pic.twitter.com/lCY493StBC — Ryan Detrick, CMT (@RyanDetrick) April 3, 2016 A 70.69 RSI is rare overbought level for $SPY. The odds are on going up very slowly
$SPY Chart: Sideways is a Direction Too Read More »
Shark Tank: The lost pitches Humans Are Hardwired For Trading Failure Trading Return on Risk Projection Tool Learning How We Learn: Maximizing Our Trading Environments Nasdaq Composite Runs Into Major Price Resistance Band
5 Great Trading Articles 4/2/16 Read More »
How we've received the Non Farm Payrolls report, by year:https://t.co/VqHx7Dje5V pic.twitter.com/lhH4K8LHB1 — Downtown Josh Brown (@ReformedBroker) April 1, 2016 It remains a central bankers market. pic.twitter.com/DZ9X2smIg8 — Northy (@NorthmanTrader) March 29, 2016 Detroit neighborhood falling into ruin as seen via Google street view and Bing 2009-2014 pic.twitter.com/cW8x2COMBd — Northy (@NorthmanTrader) March 28, 2016 "the market
Top Trading Tweets of the Week 4/1/16 Read More »
Here are trading professionals, market wizards and millionaires, that are on Twitter and share trading information with their followers. These are real-deal traders that can add incredible value to your tweet stream. Many of these even appear in some of Jack Schwagers Market Wizard books. I have found great value in following all of these traders.
10 Trading Wizards That are on Twitter Read More »
First you stop trading until you do some homework and learn what leads to profitability in the financial markets. Once you start to understand what makes traders money then you begin to build a trading system that fits your personality and is profitable over the long term. You have to test your system across historical price action
10 Steps to Profitable Trading Read More »
Here are the best answers from my Facebook trading group when I posted the following question: What is one of your bad trading habits that causes you to lose money? Underestimating the possibility of volatility expansion at times and taking too big a position size. Overly optimistic that the market will trend well… only to reverse.
22 Bad Trading Habits Read More »
I asked my Facebook trading group this question: What is your best trading habit that makes you profitable? Here are the great answers from the group as they shared their best trading habits: Cutting losses short. Letting winners run. Following my trading rules. Following my trading plan. Planning. Preparation. Being patient. Being disciplined. An exit
25 Good Trading Habits Read More »