Maybe “perfect” isn’t the right word. We can strive for it, but we’ll all fall short of it given enough time. Greatness? That’s attainable. But what does it take to become a great trader? Well, I’m still working toward it myself, and maybe you are too, but we can agree it’s a combination of things. It’s having the ability to … Read More
Want to Make it as a Trader?
Guest Post from Fred Barnes This musing on intraday trading may come off as a bit harsh and simplistic, but I think subconsciously maybe that is what I intended when I decided to pen this piece (initially as an email to a few traders friends). Here’s the premise for this piece: trading is “blue collar” work. If you want to succeed … Read More
80/20 Rule
Do you ever think about a company and critique what they can do better? There are steps they could take to make themselves twenty percent better and you have found the path. We are clients to some who could do things better and we have the answers. But the question becomes what do you do with this information. And what I … Read More
An Exercise 2 Help U Improve as a Trader (RIG)
Today RIG was the easiest of stocks to trade. 55 was the level. RIG dipped below there. And it trended in the most beautiful downtrend. Were you in this trade? I wasn’t. This level was discussed during our AM meeting. Again I wasn’t in this trade. We have discussed this RIG level on our desk for days. Oil was weak. … Read More
In Pursuit of Happiness as a Trader
Why do we trade? A majority start mostly to make money. In its best form to provide financial stability for their family. In its worst to mask some personal insecurities. Or maybe neither and trading is just something you are doing because life offered this path and you started walking. “Trading is a zero some game,” say many. And if … Read More
Trader’s Ask: What Do I Gain From Video Recording My Trades?
I received this question from Reader Viktor: Hi, guys! I’m learning to trade, and i’m going to video record my tape. My questions are: what should i watch during my VRS of the tape? Bids, offers, size prints, mbe smth else? What exchanges should i watch in the box? During the trading day in active stocks among nyse, arca, inet, … Read More
Ten Mistakes by BP a Trader Should Never Make
1. No Exit Plan. There was no exit plan for if the rig (RIG?) exploded. Before every trade we must decide where and how we will exit BEFORE entering the trade. 2. Live to Play Another Day. It is not definitive that BP is a viable company going forward even with 6.08 Billion in quarterly profits. 1) When will the … Read More
Trader to Trader: Why You Shouldn’t Trade Alone
Bella sits down with MoneyShow.com to discuss the benefits of sharing information and trading as part of a team.