The weakest link to any trading strategy is the trader that is executing it. It is usually the mental and emotional errors of the trader that cause 90% of traders to lose money. Trading success is determined more by the mindset of the trader, than their skills with math, economics, or macro knowledge. The […]
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Before there was the U.S Dollar acting as the world’s reserve currency there was an almost universally accepted form of money since the beginning of recorded history: GOLD. Paper currencies were originally pegged to gold to give them value. The bearer of the originally paper currencies could exchange it for precious metals, that
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Pretty clear lower highs and lower lows as we entered last week until the battle at the 50 day began. After more whipsawing after the FOMC minutes were released Wednesday we finished down for the day, then Thursday we rallied back over the 50 day and confirmed that move Friday rallying all the way to
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A book review for: TREND COMMANDMENTS by Michael Covel This book is based on the author Michael Covel’s extensive 15-year study of the world’s top trend following traders such as Ed Seykota, Jerry Parker, the Turtle Traders, Larry Hite, and many others. This is not a book filled with Mr. Covel’s opinions, as it’s
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Since breaking over the 50 day back in January the 50 day has held as support 4 out of 5 times. This is the sixth test and it could go either way. Three weeks ago all time highs were rejected so we do have over head resistance to work off as people get
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CURRENT POST FACEBOOK TWITTER ARCHIVES BOOKS For an invite to my private facebook trading group e-mail me at stephenburns@bellsouth and request to be sent an invite. 2013 Blog Posts Table of Contents Top 10 Most Liked Blog Posts of 2013 On NewTraderU 2012 Blog Posts Table of
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For the past 5 trading days we have been in a range bound market. The 100 day is the logical support line in this current price range with a quick reversal back over it the first day it was lost and bounce off it the following day. The 50 day is the resistance area,
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Trading stress is primarily caused by two things: either not knowing what to do, or knowing what to do and not doing it. Many times, a new trader will discover that there is a big difference between reading about trading or simulated trading, and trading with real money on the line. Stress can knock
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I want to like TSLA, I want to be that guy that bought it as it broke out to new highs but I can’t. This stock is all technicals and chart and no fundamentals nor will it have any for a very long time. This is the definition of a bubble and the madness
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Here we go coming up on the test of the 50 day simply moving average in the market measuring SPY ETF. Bottom fishers and swing traders are waiting to buy at this level that has held up well for the whole year. Many long term trend followers are waiting to sell with a confirmation
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