Learning Overbought and Oversold signals for day trading and swing trading with oscillator indicators is a common teaching in technical analysis. They can work with the stock market, Forex, futures, e-minis, or most anything where you can plot price action on a chart. There are actually 3 types of overbought/oversold signals, but only one of … Continue reading The Only Type of Overbought & Oversold Trading that Works
Can day trading be profitable? Can it even make you rich, or will it make you broke? The same could be asked for swing trading in any market, whether it’s Forex, the stock market, E-minis or futures. Today I answer a question from a frustrated trader who has been trying (unsuccessfully) to be profitable for … Continue reading Can Day Trading be Profitable? Here’s the Solution If You’re Frustrated
This is part 2 of an episode that was recorded as a “flow of consciousness” on my mobile phone while driving home from an event that brought up a lot of thoughts. As you listen to the ideas about money and prosperity I put forth, use this as an exercise, actually a “mirror,” to your … Continue reading Testing Your Mindset about Making Money, Part 2
3 places your orders can reside: Your computer Your broker’s server At the exchange Some advantages/disadvantages of each: Your computer: Good: protect you from trading blind if your computer or internet service goes down for day traders. Bad: slower fill Your broker’s server: Good: Faster than on your computer. You’ll get you filled even if … Continue reading Why the Pros Get Their Trades Filled Before You!
Can market makers see where you place your orders so they can “run your stops?” The specifics will vary depending on whether you’re trading stocks, futures, Spot Forex or Options. Not only human market makers, but also, and perhaps more importantly, market making algorithms that are programmed to run stops. It’s not most accurate to … Continue reading Can the Market Makers See Your Stops?
WHAT’S THE BEST TIME INTERVAL FOR DAY TRADING? THE 5 RULES: The size of your trading account. Can’t risk more than 2% of your trading account on any one given trade. This is from entry to protective stop. If holding overnight, then is risk of your hedge. Keep going smaller in time interval, and find … Continue reading What’s the Best Time Interval for Day Trading?
The Market Took All My Money! Successful Trading is in Your Control – Learn How Now. “Extreme Ownership” is the opposite of entitlement. Take control. Being in control requires responsibility, so many of us prefer to say that things are outside of our control. Examples of: Scam alert websites. Ripoff report websites. No, your’e not … Continue reading The Market Took All My Money!
Trading is a business of probability. Every trader will take losses, so we need to use protective stops. Many traders take profits quickly but hold on to losing trades – it’s human nature. We take profits because it feels good, and we try to hide from the pain of losses. 3 BAD TYPES OF PROTECTIVE … Continue reading The Best Place to Put Your Protective Stops
Many say there’s no such thing as a leading indicator. They even take pride is saying they only use pure price action and volume. I’m not sure why they think that’s so impressive: They say that all indicators are lagging and that they only plot what’s already been done in the market … and that’s … Continue reading The Best Leading Indicator
Which is better? Day trading or swing trading? Each has advantages and disadvantages. Here’s a comparison chart to help you decide which may be a better fit for you: DAY TRADING DEFINITION: In and out during open outcry hours. Use intraday charts. SWING TRADING DEFINITION Hold 2-14 days. Use daily and weekly charts. DAY TRADING … Continue reading Day Trading vs. Swing Trading: Which is Best for YOU?