The bright spot in a dark economy

Update

Not much happening for me today,no trade so far.

Nickelback - Rockstar [Explicit]

No limit credit card thats what we need!

The problem with Warren Buffett

Double top

Last few days market was kinda boring,did't creat that many opportunites for me.

Inside bar trading

When the current bar's range is within the range of the previous bar, then present bar is called an inside bar .This is often interpreted as market price pausing or consolidating and being uncertain of the underlying direction of the market. Since the inside bar is consolidation period, I consider it the calm before the storm .its like an ambush to hunt a big opportunity. Traders who want to build career in trading, serious about trading, I suggest, they must learn to trade set ups that provide low risk high reward trades. Inside bar trading is one of my favourite set up in day trading and swing trading, I explained this set up in detail in my course.

How can you trade inside bar:

a. Look for an opportunity in the direction of the main trend.
b. Look for an inside bar at the lower part of the previous bar, I try to avoid inside bars which form in the middle of the wide range bar.
c. Look for an opportunity in the trending market (Look for short in the bear and long in the bull market); try to avoid range bound market.
d. Place a buy stop above the high of that inside bar if it formed in an uptrend or a sell stop below the low of that inside bar in a down trend.
e. Place your stop at the opposite side of the inside bar.

Trading questions

1.Why would you select this stock for your day trading?

2.What would you be looking to get short or long?

3.Where would you put the stop loss and why?

4.Where would you partial and why?

5.Where would you exit?

6.What would be your position size and why?

What kind of trader are you?

First thing you should know before start trading is your trading style. Each person has different personality, emotionality and Need.
That’s why we are different in trading style
1) Scalper: Looking to hold positions for few minutes or even seconds.
2) Day Trader Looking to close out all positions by the end of the day
3) Swing Trader: Holding a trade open for between a day and a week
4) Position Trader: A trader who is looking to hold a position for a number of weeks
5) Long Term Trader: Someone who is holding a trade open for months at a time
6) Buy and Hold Trader: A trader who is looking for a return over a number of years

The 1929 Stock Market Crash

very informative article:


http://eh.net/encyclopedia/article/Bierman.Crash

1929 Wall Street Stock Market Crash

Economic signs pointing down

Wild day

My trading method involves five simple steps.

a.Identify a low risk and high reward trading opportunity

b.Select a direction

c.Place your trade

d.Place a stop,

c.Manage your trade(partial profit taking and exiting)

Sounds easy,but many traders failed to follow that,yes impulse trading,very common among new traders.

No trade today

I didn't find any nice setups in the Asian ,European seasson today,mostly choppy action.looking forward to see how the U.S equity market do today.

Key points of euro nations' financial crisis plan

Fed, major central banks slash rates

Trading obstacles

Have you ever been to a situation when you moved the stop because you couldn’t accept the lose, but ended up losing big chunk. Or you were too sure about the direction of the trade, you didn't even put a stop loss but trade went opposite your way and ended up losing ten times more then what you suppose to lose. What about this scenario, you were sitting on big profit; you didn’t partial because of greed or overconfidence and ended up giving every thing to the market. Never been to this kind of situation, that’s great, but if been through this kind of horrible situation and still having this problem then you are not alone. We human naturally like that, can’t accept loses or in other word we like to win. In the trading word it is impossible to win 100% of the time, trading is game of probability .Very simple concept which part of the probability we don’t understand. Probably we understand probability but when we involve in a trade our ego overleaps the logical part of our brain.
What should we do, we will let our ego to ruin our trading career or we will say good bye to our ego.

1.Be honest to your self
2.Admit you mistake
3.Overconfidence is you enemy
4.Think logically
5.Try to keep record of every trade
6.Never revenge trade
7.Market is always right not you.

Is Gold Money?

Economic Depressions: Their Cause and Cure

EUR/USD closed short position

I closed the last quarter of EUR/USD,since the pair gapped up against my position this morning.

The big picture

Well folks from the techinical point of view we are not very far from the bottom.So is this time to buy??Not really ,lets the market tell us .

Monty Python - Stock Market Report

All that money you've lost — where did it go?

Hedge funds to shrink but survivors to prosper