Every trader needs a trade that produces. One that they can rely on and take with no hesitation. For me, that trade is the Wyckoff Spring. As long as i don't have a raging bear trend or serious SOW in the background, I look to take this trade every time it comes up. Is it perfect? Of course not, nothing is. But it is as close to perfect as i can get in this trading game, … [Read more...]
Market Drives to New Swing High
I was anticipating a pullback in the US Stock Market this week. I had seen some weakness in the market as described in this post (click to read), but that did not materialize. Instead, the market pushed up and drove to a new swing high. Game Plan & Routine Coming into the market's US morning session yesterday, I was looking for a short opportunity. My game plan was to … [Read more...]
Anticipating a Pullback Early Next Week
The market has been in a bullish mode since the mid-November lows. I expect that bullishness overall will continue into and perhaps past the New Year. But in any uptrend there will be pullbacks. I am anticipating a pullback early next week. In fact, it may have already started. My Routine At the end of each week - usually on Saturday afternoon when I have some quiet time … [Read more...]
S&Ps and 1400 Level
I have been mentioning the 1400 level in the S&P e-minis for a few days. You can read the posts where I discussed that level here. I've been looking for a pullback to the 1400 level for a buy opportunity. That came this morning. Here is the 3,000 Tick Chart of the S&P e-minis with the Weis Wave. The 1400 level is highlighted. Note how we became oversold in the … [Read more...]
A Word on Trading Psychology
Psychology is a crucially important aspect of trading, but most traders pay no attention to it. Traders put all their effort into developing technical skills, but eventually learn that technical skills alone offer only a partial picture. Concentration on the psychological aspects of trading is equally vital. Traders Wait too Long to Learn Mental Skills Most traders wait until … [Read more...]
