Well, let me begin my answer with a quote from a national financial magazine dated October 1977. “Over the last few years, the Wave Principle has gathered too much of a following and, therefore, it has less value today. Almost invariably, you can write off a technique when it gets…
Monthly Archives: November 2009
Generally Right Vs. Precisely Wrong
As traders we all spend an inordinate amount of time obsessing about our trade entries. We shop brokers to make sure that we get the lowest spread possible. We put on limit orders to assure ourselves of not paying a tenth of a pip more than we intend to. And,…
Trade the break-out, trade the bounce, or wait for a perfect signal
Trading the bounce from a recent price reversal that is hitting major support, will more times than not be more reliable than trading the break-outs to new highs. Contrarian trading the bounce tends to create more trades you are already in as the new break-out occurs at the other end;…
Defining A Great Trader
Great traders that we have had the pleasure to know and to be around, on exchange floors and on trade desks, had certain repeatable traits that all level traders can learn, or take something from;
Five Fatal Flaws of Trading
If you’ve been trading for a long time, you no doubt have felt that a monstrous, invisible hand sometimes reaches into your trading account and takes out money. It doesn’t seem to matter how many books you buy, how many seminars you attend or how many hours you spend analyzing…