Archive for Mo
Trading Advice Daily Forecast for the Emini S&P500
We’re expecting to a see a continuing mixed bag while the market trades between the 1277.50 and 1262.50 levels. The overall bias for this week continues to be to the downside so if the market drops below the 1265.00 level the bears are likely to take a stronger stance. If there is a breakout to the upside the 1281.50 level would be a good selling point.
Look for key resistance at 1274.25, 1277.50, 1281.50 & 1288.50 the pivot at 1270.00, and key support at 1263.25, 1256.50, 1251.50 & 1245.25.
27Aug2008 | Mo | 0 comments | Continued
Performance Enhancement or Core Beliefs? What Every New Trader Should Know.
Since my last post about differences of perspective on developing trader mindset, I’ve spent quite a bit of time this week trying to understand those differences of perspective - the Dr Brett Steenbarger, “enhancing trader performance” school, and the Mark Douglas, “core beliefs for trading success ” school.
While I don’t see any conflict between the [...]
If You Don’t Learn This Skill Early You’ll Always Wish You Had
In the comments of a recent post on theessentialsoftrading.com a conversation began about the relative importance of psychology in trading success. Someone referred to one of Dr Brett Steenbarger’s posts - The 3 Myths of Trading - in which he says that success is a function of talents (inborn abilities) and skills (acquired [...]
18Aug2008 | Mo | 0 comments | Continued
Why Some People Almost Always Make Money Trading
In many of my former posts I’ve talked about the dramatic improvement that you can make in your trading by giving as much importance to ‘time’ as you currently do to ‘price’.
What if instead of being a slave to the charts you could calmly pinpoint exactly the right times to trade - times that will [...]
10 More Ways to Deconstruct Your Trading and Build a Better Plan
10 Ways to Deconsruct Your Trading And Build a Better Plan turned out to be one of the most poplular posts ever written here at Trading Advice, so here’s another 10.
This time with a specific focus on building a mental approach to trading that will always allow you to derive the most from your trading plan.
8Aug2008 | Mo | 3 comments | Continued
Top Lessons from Trading in the Zone - Part 1
Trading in the Zone by Mark Douglas is THE definitive handbook for establishing an effective trading mindset. Consistently profitable traders all over the world attribute a significant part of their success to the implementation of Mark’s thinking strategies.
The overarching premise of Trading in the Zone is learning the mental strategies that allow you to trade [...]
What is emotional clearing and how do you do it?
After a number of posts in which I refer to emotional clearing, I’ve been receiving emails asking for more explanation - so here goes:
We all have emotions, fear, anger, guilt, worry, shame etc. Traders and investors who are putting hundreds and thousands of dollars on the line each day are more prone than most to [...]
When Will Traders Believe It?
Its a funny thing… the information that new and struggling traders need the most, is the information they think they need the least. Its the element of learning to trade that is given the least attention, and often not at all, until its too late - until the bubble bursts, and the worst happens. But by then its often too late, the damage has been done.
29Jul2008 | Mo | 0 comments | Continued
Traders’ Guide to Keeping the Big Picture
I’ve noticed from the emails Trading Advice has been receiving recently that its at times like this, when the market changes its trend, that new and struggling traders run into the most difficulty, because they don’t have effective methods for holding the overview. Everyone gets comfortable as the bandwagon moves consistently in one direction, only to be thrown from their seats because they weren’t expecting the change in direction.
20Jul2008 | Mo | 0 comments | Continued
