The second reason many traders fail to “stay with the move” is the fear of giving some profits back. The overriding emotion of having to get every penny in every trade causes them to get jumpy as soon as the stock does a stutter step. That’s fine if you are willing to get right back in if the trend resumes, … Read More
The Elusive Easy Trade
Is there such a thing? Day trading has its moments and trades that can be considered easier. I really believe this, but how does one find these trades during the day? It takes preparation, experience, and persistence to find easy opportunities. The preparation is the hard work put in every day looking at chart after chart, drawing trend lines, and … Read More
Day Traders Switch It Up Like A Pro
Changing your biases in day trading is a hard necessity. Switching sides in a trade is a skill that every day trader must build. There are two distinct levels of this skill, novice and advanced. An up and coming young day trader Jerry, @TheArmoTrader, penned a nice blog post on switching sides: http://jerrykhachoyan.com/. Jerry did a great job switching sides … Read More
The Good Trading Stress
When “professional stress” is your problem you are leaving the ranks of amateurs. Are you a stressed out day trader? I am and I couldn’t be happier. I have worked long hours to get to this point. I have spent literally tens of thousands of hours at the screen to attain this stress. Sounds crazy? I don’t think so. A … Read More
KISS (Keep It Simple..) Trading Lesson: The “Show Me” Entry For Pullbacks
DISCLAIMER: This entry method does not allow getting every cent of the move. If this is important to you do not read any further! The how and why of entering a pullback trade can be tough for many traders. Although if the price is moving against the established trend it can have decent momentum. This makes it harder for traders … Read More
Simon Says Simply Read The Tape
Day trading profitably requires Reading the Tape. Reading the Tape is a skill. It’s a skill that can be learned. However, it doesn’t always come easy to the beginning or underperforming traders. Listening to Simon is tape reading in its purest and simplest form. Learning to Read the Tape in a manner that simplifies your thought process frees you from … Read More
KISS (Keep it Simple..) Trading Lesson: Play Simon Says To Win
Simon says touch your nose Simon says grab your ear Simon says get long $REE Get short $MCP … you lose! If you can learn to play Simon Says your trading will improve. If you listen to what Simon (your screen) says you will increase your chances of becoming a consistently profitable pro intraday trader. When you listen to the … Read More
Find the Least Competitive Stocks (Part II)
“Least Competitive?” At first blush it sounds almost like admitting defeat. Come on, I’m a trader. In order to make it in this profession and derive a good living I have to be able to bang with the big boys right? Let me give you one of the analogies that I use when mentoring that may coax you to think in … Read More