7 Killer Mistakes That Doom Traders From Becoming Consistently Profitable - Part 1
The first of a seven part series on what prevents traders from becoming consistently profitable.
Good morning traders. A long setup in Wynn Resorts LTD (WYNN) is pictured below. For the past ten days WYNN attempted to trade lower but each time was met with buyers including the two days that left bottoming tails (blue arrows). This is the point at which bears become spooked and are trigger happy to…Read More
(Xcel Energy – CMS Energy) Well Folks! Our teenagers are at it again, and throwing a tantrum and climbing back up in the attic. Either way, we love our pair, even though it is a little slow sometimes, it eventually comes to its senses, and brings in the profits, time and time again. I’m fully…Read More
It took me several years as a professional floor trader before I realized how useful technical charts were. I was taught “old school”…by the numbers. I remember to this day having a highly regarded floor specialist tell me that the “charts don’t matter!” At that time in my career maybe he was right, but now…Read More
In things you should give a pip about, we look at Black Friday and Interest Rates. These two are connected in a way maybe you haven’t thought about. As we have discussed in previous articles, retail sales during the holiday season account for around 80% of the retail sales of the year. Consumer purchases account…Read More
Trading is one of the most difficult professions that anyone may ever attempt. Your strengths and your weaknesses are magnified because the market is filtered through your beliefs, experiences, and your own emotional makeup. If you have trouble with discipline or risk management, it will show up in your trading. If you are scared of…Read More