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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
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Must Read Books for Traders

28Jul2008 | Mo | 0 comments | Continued
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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
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Book Review: The Trading Method That Can Make You Rich - by Roy Kelly

Priced at $195, used copies almost unheard of, this book with its almost ‘cult-like’ following has intrigued me for years. I finally decided to buy “The Trading Method That Can Make You Rich” and see what the fuss is all about.

14Jul2008 | Mo | 3 comments | Continued
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Profitable Cycle Trading Method - Part III

Read Profitable Cycle Trading Method - Part II here.
Cycles are rough sine waves. A cycle moves up until it reaches a high then curls down moving downward until it reaches a low before it curls upward once more. When a cycle has bottomed out, curls up, and then starts moving upwards we can say that [...]

12Jun2008 | Mo | 0 comments | Continued
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Profitable Cycle Trading Method - Part II

Read Profitable Cycle Trading Method - Part I here
Principle 4
Discipline. The most fundamentally important part of making this method work is self discipline. To be consistently profitable you need to be disciplined every trade, every day. The one time when you relax your rules, you can be sure will be the time it will come [...]

8Jun2008 | Mo | 0 comments | Continued
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Profitable Cycle Trading Method - Part I

Many traders don’t like to share advice about their trading system because they think it will lose it’s edge. Here at Trading Advice blog our philosophy is that there’s plenty to go around!
This is the first in a series of three blog posts that shares one of my favorite cycle trading methods in detail:
First things [...]

2Jun2008 | Mo | 0 comments | Continued