Trading Is Just Like Gambling. This is the first thing I hear from family, friends, and new people I meet when I tell them I am a trader. What they do not understand, is that I am not the gambler, I am the casino. I trade with the odds in my favor, over and […]
Ten Trading Myths Explained Read More »
In the spirit of Jeff Foxworthy’s: You might be a redneck comedy routine, here is my take on bad traders. You Might be a Bad Trader if: …You are 100% sure about a trade being a winner so you have no need to manage risk. …You go all in on
You Might be a Bad Trader if: Read More »
How is it possible for swing traders, trend followers, position traders, growth investors, value investors, and even some skilled day traders to all make money in the markets even with what is many times opposite strategies? There are three elements that cause profits in the stock market regardless of strategy. They are: Managing risk with
The Trader’s Money Makers Read More »
If Apple products are still selling and market share still growing, this story is not over. Either $644.00 was the top and all time high for Apple or it goes to $700 as the next logical step. Unless there is a competitor that is stealing market share right now then Apple goes higher. Unless
Is Apple $700 Going to Happen? Read More »
Today, as I look past the fireworks and cook outs and think about what this July 4th holiday in America is really all about: independence for the United States from Great Britain. The colonies sought independence from taxation without representation, independence from a King, and freedom for the states to profit from its own labors
10 Things that Great Traders have Declared Independence From Read More »
Many unfamiliar with trading, think it is gambling, or that we will lose all our capital on one trade. These folks don’t understand the basic principle of a stop loss. Rather than hold a stock from $100 to $0, a good trader will be out the moment that price confirms that they were wrong. For a day trader,
Asymmetric Trading Read More »
40 steps in the trader’s journey from new trader to rich trader: We accumulate information. We learn by buying books, asking questions, going to seminars and researching what really works in trading. We begin to trade with our new-found knowledge. We make profits only to give it back very quickly, realizing that we may need
40 steps in the Traders Journey Read More »
In trading as in all other endeavors in life there are people who take full responsibility for their own results and the consequences of their own actions and there are others who blame everybody and everything else for the bad things in their life. There are the winners and
The Winning Trader & The Whining Trader Read More »
Before you launch your trading career or continue it, it is important to ensure that your trading method works. This is where the homework comes in. Chart studies, computer back testing, the study of the success and failure rate of chart patterns, how monster stocks performed historically, and eyeballing charts around specific price action
In this video Ed Seykota’s disciple Michael Martin interviews the best selling author of the Market Wizard series of trading books, Jack Schwager. Considered by many the greatest trading books ever written. In Schwager’s newest book “Hedge Fund Market Wizards” he interviews the greatest hedge fund managers in the
Market Wizards Author Jack Schwager’s New Interview Read More »