I do not think traders really start making money until they really mature as traders and understand the big picture. I have been on this journey myself and went through the wild excitement of the the internet bubble, day trading and the experience of making a few hundred dollars in a few minutes the […]
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“Bear markets have no supports and bull markets have no resistance.” –William Eng Wednesday was a perfect breakout entry signal for me after the bounce off the 20 day that closed above all time highs. Since we are now at all time highs there are no stop losses or trailing stops to be hit
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— Steve Burns (@SJosephBurns) November 14, 2013 Senator asks Yellen “How long can these programs go on?” “On and on til the break of dawn.” — Downtown Josh Brown (@ReformedBroker) November 14, 2013 “I believe that supporting the recovery today is the surest path to returning to a more normal approach to monetary policy.”
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Last week Thursday rocked the bulls hitting stops and making everyone think that was the yearly top, it ended up running the full trading range breaking from a new all time high and falling all the way back to the 20 day but holding. Then Friday it moved wildly after the payroll report in the
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You can’t think & trade at the same time… which means you need to have thought out everything ahead of time. — Trade Like a Casino (@TradeLikeCasino) November 8, 2013 “We respond to our thoughts and feelings about reality; we don’t respond to reality.” – Charles Faulkner — Andrew Selby (@DontTalkStocks) November 7,
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A trading method and system is only a small part of successful trading. The trader is the weakest part of any method. No trading system will work if the trader trades too big and too often because eventually being wrong will be the end of that trading account. A great trading system will
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I sold my long positions Thursday as the market started to signal toppiness right on cue at the $SPY 70+ RSI and I am currently just in cash waiting and watching for what happens next. Lots of cracks in the bull horns forming in equities and we may see some consolidation at these levels and
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This was an interesting trade. I started off being short at the 50 day with the big reversal candlestick the day before the collapse to the 100 day line. I was holding a small $SPXU position (leveraged bear ETF) to play the short side and was in a
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Here we are pushing up against resistance levels in the $SPY. The options here are sideways, a correction, or we go parabolic. The odds favor sideways action here in a $174/$176 range, the probabilities change as one of these key areas are breached and held. That last dip to the 100 day shook out a
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Many new traders waste a lot of time going around in a circle of no progress. They go around and around, chasing the wrong things, lured into buying into the wrong principles of prediction that do not work. They look for the easy solution instead of just doing the work. There are great educational resources for
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