Most new traders starting out have similar trading questions. While strategies and trading psychology are tackled at a later stage, new traders typically want to know:
Can successful short-term trading actually be done?
Can it provide a living/income?
How long does it take to become profitable?
How does one get started?
I recently received these question in the form of an email from a new trader. I liked his versions of the questions because they…
Loss aversion is an unwillingness to accept a loss once in a trade. You tell yourself you’ll get out if you lose a certain amount money, but instead of closing the trade when you should, you decide to hold the trade and let the loss grow…in the hope that by giving the trade “more room” it will eventually turn around in your favor. The reason commonly given is that if the trade is closed the…
Risk management and/or stop loss orders aren’t always effective, which could mean bigger losses than expected. See why and how you may be risking more than you think. See real-world examples where short-term traders got annihilated. Then, see how to reduce the chances of it happening to you.
This article is not intended to scare people away from trading. I trade and love it. Rather the article is intended to point out potential vulnerabilities in…
Want to quit your job to day trade? It’s feasible, but go through these steps, and know what to expect, before you quit your day job.
In 2005, fresh out of university, I saw a job posting from a day trading firm. With a fascination for the markets, I applied. Three interviews later I was given the opportunity to attend training. Most people that applied didn’t make it to training, and about 90% of those…
Here is a list of the top ten reasons for losing discipline while trading. This list was sent to me by a risk manager back when I was a trader on the floor of a proprietary trading firm. This manager would routinely send out quick trading lessons and reminders via email. I have kept most of those insights and refer to them regularly.
I later found out this list came from Brett Steenbarger, a trader…
Download the Stock Market Swing Trading Video Course. 17 videos that include stock market basics, as well as versatile strategies showing you how to swing trade the stock market efficiently and effectively whether prices rise or fall.
Created by Cory Mitchell, CMT
To read comments and testimonials, check out the Course’s permanent page. Below is the Course summary.
The Stock Market Swing Trading Video Course provides everything new and experienced swing traders need to be…
Learn how to day trade on the 1-minute chart without looking at other time frames. This video shows how to plan ahead, when not to trade and how to use market tendencies to better plan entries, stop losses and targets.
In the video below I discuss a few entry techniques. These are covered in my Forex Strategies Guide eBook.
In the video, I mention that I “only trade the EURUSD”…I mean “day trade.” I will…
Financial legislation might mean something different than most investors believe. Significant changes in financial legislation have often been associated with major market turning points.
By Elliott Wave International
A stock market warning has just developed for those who are bullish.
Here’s what I’m talking about (CNBC, May 22):
The House voted May 22 to pass the biggest rollback of financial regulations since the global financial crisis.
In a nutshell, lawmakers want to get rid of…