With all the silliness and noise around trading that happens online I thought I would clarify what I see makes the rich traders win in the markets. Whether they are a professional or trading their own account the markets leave many traders broken […]
Will You Make It as a Trader? You Need These 3 Things: Read More »
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,
7 Fast Facts About the $SPY Chart Read More »
If you are just randomly trading what you like with no real underlying system, method or planning then unfortunately your odds of success in the long term are slim. Trading a winning methodology is what creates an edge in trading. Consistently trading a robust system or methodology enables you to trade in a way that
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We are looking at a failure to break out to a new all time high Wednesday. With the day of the failed break out closing near the low of the day. Usually only bearish reversals follow a gravestone reversal candlestick, the last two days has been that reversal. We did regain the 20 day after
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For the first time in a long time we did not get the relief rally after Bernanke spoke, the markets did not like what was said and sold accordingly. The clean break of the 50 day should have been like a bell ringing to bulls that we are not in Kansas anymore Toto. After breaking
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This book is written about how three mutually reinforcing skills make a complete trader. 1). Pattern Recognition and Discretionary Trading. Using the Wyckoff method you will see chart representations of how hot growth stocks are accumulated in bases for long periods of time. They eventually have pull backs then break out to new highs
Trading Book Review Of the Week: The Three Skills of Top Trading Read More »
“Where you want to be is always in control, never wishing, always trading, and always, first and foremost protecting your butt.” -Paul Tudor Jones This week was a lesson in how well traders managed risk, and how fast they could cut losses when they were wrong. If you made money this week, BRAVO! However, the
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How Does Quadruple Witching Occur? Quadruple Witching occurs as four different types of derivative instruments reach their final trading day at the same time, on the same day. In the US market, the final trading day for stock options is every third Friday of each month. The final trading day for single stock futures,
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Ten Questions to Ask Yourself During Losing Streaks in Trading Are you trading in the wrong direction of the trend in your time frame? Money is made in going with the flow the vast majority of the time. Are you buying break outs in range bound markets or trying to swing a trend?
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