Of course, no one knows how the week will unfold in the US Stock Market (represented by the S&P futures, ES). Nevertheless, we can make some assumptions and lay out a game plan for trading the week. Although buying came in on Friday, there was enough selling on Thursday to turn the immediate market bearish. Thus, we are likely to see early in the week that Friday's … [Read more...]
A Personal Lesson in Trading Psychology
On Friday (yesterday), I was in a live trading event sponsored by my good friends at TradeGuider. As always, I prepared for trading the night before. My nightly analysis indicated that I should look to play to the short side around the 1513-1515 level. In the overnight Globex market, the ES rallied to about 1510, and then stalled just before the US open. I thought, "OK, … [Read more...]
New Year New Psychology: Free Webinar
Conventional trading psychology says, “In order to trade well, you must first learn to control your emotions.” Not true. In order to trade well, you must learn to keep your attention on what matters to the trade! Come join us for a free webinar and a non-conventional look at trading psychology. When: Saturday, February 23 Time: 3:00 PM EST (New York … [Read more...]
US Stock Market for Next Week
On Monday February 11, I wrote a blog post discussing weakness coming into the market. In that post, I said that the major US markets (S&Ps, DOW, & Naz) were getting out of sync--a sign that a correction may be coming. I noted that the S&Ps (ES) had to start trading below its February 1st high (1511.00) for a correction to begin. You can read that post by … [Read more...]
3 Problem Day Trading Behaviors & What to Do About Them
As a trader, you are solely responsible for your day trading actions and behavior. Your day trading success depends on how you act while trading. Here are 3 problem day trading behaviors that ensure failure. Fortunately, they are all within the control of the trader and can be corrected: Problem Day Trading Behavior #1: Day Trading Without A Game Plan Traders who come into … [Read more...]
