Dear Traders, The inflation report for September has come in and it indicates that inflation last month was hotter than expected (albeit hot inflation is not really news anymore). The market gapped down significantly, over 2%, and everyone was anticipating a big meltdown again, but the market bounced back strongly and is now trading almost … Read more
Rule 1: Day trading is not a strategy to get rich quickly. Day trading looks deceptively easy, so one of the most important lessons you can learn, regardless of your level of experience, is that you will not get rich quickly by trading. It is not the same as gambling or playing the lottery. Brokers … Read more
Dear Traders, The market continues to be volatile, but choppy, meaning volatile and directionless moves. Today, I had a very nice short on TSLA and then flipped the position on long and profited both ways. I then experienced a series of small losses on TQQQ, AMD, and SOXL. You can watch my recap here. Tonight, … Read more
An often neglected or disregarded aspect of trading is the development of a proper “business plan”. Do not get this confused though with your daily trading plan (the “if-then” statements you develop each trading day) and what I will soon be describing as your trading framework. Every business needs a business plan. Day Trading is … Read more
Dear Traders, The market is experiencing another volatile day. It sold off heavily at the Open, but bounced back around lunch time. As I am writing these words, the market is almost flat, but who knows how it will end. I suffered a heavy loss trading a bounce on stocks in the semiconductor sector (e.g., … Read more
Dear Traders, What a crazy and volatile market to trade in. We have just learned that the US economy created 263,000 jobs in September. Not only that, but the unemployment rate also fell further, down to 3.5%, while expectations were for it to remain at 3.7%. This means that the economy is solid and strong, … Read more
Dear Traders, Today is the day that weekly jobless claim numbers in the US are released. Analysts are expecting a reading of 204K, after last week’s surprisingly strong 193K print. The weekly claims report is an important datapoint these days. After last week’s strong numbers, stocks immediately tanked, with the S&P 500 falling around 2% … Read more
A large volume of professional literature has been published on the benefits of journaling, particularly in the fields of mental health and psychology. Not unlike the lockable diaries that children and adolescents in earlier times hid under their mattresses, journals are a way of recording experiences, thoughts, and feelings as a way of understanding them … Read more
Dear Traders, What a day to be alive! Elon Musk is making news these days over Tesla and Twitter. The figures that were released on the weekend regarding Tesla’s third quarter car sales missed analysts’ expectations, leading Tesla to sell off by over 10%. Elon Musk changed his opinion on Twitter and decided to go … Read more
This is one of the major roadblocks in the evolution of a trader. And most will not get past it. A good day, week, or month can be ruined by your survival instincts kicking in and manhandling you in order to save a losing trade. Find out what happens when your rational self is hijacked … Read more
In this webinar, Carlos will provide the basics of trading the ORB strategy, how to calculate risk to reward. Identify great setups potentials and which setups to avoid. He will also discuss how he personally manages the trade when taking partials or stopping out.
I recently released a video about one of my favourite leveraged ETFs: TQQQ, which seeks a return that is 3x the return of its underlying benchmark for a single day, and want to share some information with you about these attractive but potentially explosive products. To begin with, we should define a few terms. An exchange-traded fund … Read more
Dear Traders, First and foremost, my thoughts and prayers are with those who have been affected by Ian. Ian, now once again a hurricane, is threatening to carve a new path of destruction through South Carolina on Friday when it roars ashore north of Charleston. After a big sell-off day, the market has stabilized today. … Read more
Dear Traders, President Ronald Reagan once said that the “nine most terrifying words in the English language are: I’m from the Government, and I’m here to help.” I do not think any investors these days are really in agreement with that sentiment. Financial markets are blowing up everywhere in the world, and governments are stepping … Read more
An electronic online trading platform is a computer software program that is used to place orders for day trading. A trading platform is different from direct-access brokers themselves, but I often see traders confusing these two as one. The trading platform sends and places your order at the Exchange so the direct-access brokers can clear … Read more
Dear Traders, Happy Tuesday! I am back from my week-long week trip to the UK, where I spent a few nights in the hospital for surgery. I could not trade at all over the last 8 days, but I was honored to witness the Windsor part of Queen Elizabeth’s funeral. I also happened to be … Read more
In this webinar, Thor will discuss “when” it is best for you to take a trade. Your tape represents the core of the price action unfolding on a stock. As you read your tape, you are no longer looking at your charts. Rather, you are utilizing your Time and Sales, your Level 2, and your … Read more
Mountains fascinate me. I spent much of my youth in the mountains, and I still thoroughly enjoy being able to explore the higher altitudes of our world. I began alpine climbing in college, and later I developed a passion for the financial markets. When I am asked by new traders and aspiring traders how they … Read more
In this webinar, Andrew will review his use of moving averages. He will explain how he uses them to determine his entry, exit, and stop loss; how he employs them to find trends; as well as how he utilizes them to identify important support and resistance levels.
The one value that affects your performance the most is how you value money. In this webinar, Mike will discuss the relationship between values, attitudes, and behaviors, and the effects they have on your trading performance.