You can control when you enter and what will cause you to exit but where price goes in the mean time is up to the market itself. You can decide how big of a position you want to trade but you can’t choose your profit amount that is up to the market. You can’t decide […]
What Traders Can Control And What They Can’t –> Read More »
So far the stock market in 2014 does not care about anything but the central bank IV drip. The bulls continue to run wild in the energy sector $XLE as they wait for some clarity in Iraq. $XLE did finally fall back to reality under the 70 RSI. 2104 has been the year
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In order for my option book “Show Me Your Options” to become an official “Bestseller” on the Amazon Kindle platform… I need to have real customers with real sales and real testimonials posted on the Amazon website. What’s surprising is that it doesn’t take a million orders to become a best seller. By my estimations,
The Five-Step Process of System Development by Richard Weissman: pages 11-13 When to not play: a poker lesson for traders by Brett Steenbarger CNBC Viewership Drops To Lowest Since 1997, Cramer Has Worst Month Ever The Dunning-Kruger Effect: Why Every Novice Thinks They Can Trade The Psychology of Getting More Done (In Less
Weekend Reading – 6/28/14 Read More »
Don’t worry, America. If the game is going the wrong way, the Fed is prepared to intervene in the 2nd half. #USAvsPOR — Rudolf E. Havenstein (@RudyHavenstein) June 22, 2014 “@drunkNnaughty: I have CDO. It’s like OCD, but the letters are in alphabetical order. Like they should be.” — Joseph Fahmy (@jfahmy) June 21, 2014
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While all of these may not fit into your own trading plan, some of these rules could help individuals decrease drawdowns. Make limiting your drawdown in capital your number one priority, not your profits. It is much easier to be profitable when you don’t lose a lot of money. Never lose more than 1% of
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Winning traders take responsibility for all their trades win or lose. Whining traders play the victim of algos, the Fed, and blame the markets for their losses. Winners have a trading plan Whiners have emotions, ego, and blame. Winners find a way to be profitable. Whiners find an excuse why they are not. Winning
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They say things like “I have been pounding the table on this trade” or want some kind of brownie or cookie for “calling some market movement” it is about making money not wanting to be pet on the head for being “right”. Foolish traders are focused on predicting the future instead of trading what is
10 Foolish Things That Foolish Traders Do Read More »
This post is courtesy of Simon Goodchild posted originally in my Facebook trading group. Reprinted here with his permission. THE SUPERMAN THERUM I often hear that one should not trade unless one has sufficient capital to trade, and it’s true most traders are under-capitalized, but there’s absolutely no reason a trader can’t start with
Trading Where You Are To Get To Where You Want To Be Read More »
This market continues to grind higher with tiny pull backs making it difficult for buy the buy the dip traders to even get a good dip to buy. Volatility is very low making it difficult for option sellers to collect enough premium to make it worth their risk while options stay so cheap. Even intra-day
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