Wednesday, August 27, 2014

today 2 bears came out and said the market will crash 30-60%

today 2 bears came out and said the market will crash 30-60% based on central bank fears, FED rate hikes, inflation & a 20-year dow jones technical broadening triangle pattern. its always good to keep an open mind to every perspective. the moment u laugh at someone is the moment you open yourself upto the possibility of that happening. that said and my opinions of the fundamental analysis aside, i just want to point out a flaw in one of the analysts work. abby doolittle is an extremely good chartrist and i have alot of respect for her. but in this case she has done something very wrong & inflamatory. her 20-year broadening triangle to the right has the upper line lifted up and away from the candle tops with air vbetween them as to manipulate your eyes into thinking current price action is meeting resistance and should fall. my chart on the left is drawn touching the tops of al candles perfecdtly and u see we have already broken out above the resistance line which is now acting as support. im not saying we cant fall back inside and im not saying we can crash im simply pointing out her technical error.

Saturday, August 23, 2014

dont trade for the money, trade for the trade:

"what does that title mean to u? its gona mean different things to different traders. we all know 90% traders fail. we also know why they fail. we've all read the books, heard the stories, seen the excuses and problem areas. with emotions being the greatest destroyer. here, i wana only touch upon 1 simple thing, winning. many super-stars like tiger woods only play for it. traders complicate things. many get confused within the activity of trading. others get lost in the mania. but the main error from traders is they get too attached to the money aspect of the trade. going in, you have already decided how much to win & lose. instead of going in and deciding how much the stock price will gain or fall.

yes we trade everyday to make money. and, we all have different motives for these profits. but, how we get to the end results are all different. how i trade is no different than many traders out there. but, how i view the trade is worlds apart from most. most traders see dollar signs. i dont; i only see symbols. most traders see profits & losses, i see plus, minus & %. most traders see good & bad; i see proabilities.

when i enter a trade, i dont think about the name of the company, what they do, or anything about them; except the ticker symbol and price. ive already done all the research and chosen this trade on those merits. i keeps the company element as a non-issue. and since the company is unknown, u dont have any emotional attachment to it. if youre thinking of the company, subconsciously u may be swayed by its history or products, inside the trade. by only knowing the ticker removes that, all is left is the ticker & price. and since the ticker doesnt matter, all i see is price. ive completely narrowed the equasion down to 1 element - price. in a sophisticated game of so many components, to be able to remove as many elements as possible is king. once i notice the price, i instantly remove the dollar sign. now ive gone a step further in simplifying the task. all im left with is a simple number. it could be 5.25, 26.37 or 16.92; doesnt matter. all it is is an arbitrary number. select the amount of shares for your trade and enter.

the price will fluctuate up and down. but, the rise or fall is in no way emotional. its simply methodical. u got your target and stop-loss known, the rest is just the numbers playing out. but, the good thing about a trade of just numbers, is all the emotion is removed. u dont get excited about 50 cents up or down, cause its not 50 cents, its 50 ticks; or 50 moves away from the number u began with. or a few % from where u started. but not money up or down. strictly mechanical.

emotion is the killer of profits. and it destroys traders heads and hearts. by only knowing a few letters and numbers, all that is gone. yeah, youll still have the excitement that your number goes up; and poor thoughts when it goes down; thats natural. but, in-time, those emotions will be removed aswell. and, all youll be left with with hard letters and numbers, that hold & represent no emotion at all.

i dont look at how much im making; i dont really care. for me, the activity of trading is for the activity of trading, because i love the activity of trading. the money comes when the positive numbers are greater than the negatives. and i know if i concentrate like a laser on just the numbers, symbols and patterns, ill win. i dont care how much i win, and how long it takes. in-time money will be there. for me, its a contest of getting that number to be higher after the trade, then when i entered. the best way to do that is to ignore all the elements that take u away from that success. and those elements are all attached to emotion. be a rock-solid unemotional machine, who isnt swayed by anything lucid; and youll have the best probability of making money, in the end." - RO

my #1 best advice for a newbie: never trade to make money...

first u wanna have fun ... if youre not enjoying yourself you wont wanna do all the crap a successful trader has to do to be successful....when i say fun i dont mean get excited when u win...i mean enjoy the trading process....while having fun if u have a niche & appropriate trading system fit exactly for u then u simply trade that system like 1...2...3...not for money....for correctness....then the money will naturally come to you

never say will or wont

when i was a stockbroker the industry made it illegal to tell a client "i promise" or "i guarantee" we would cheat the system and say "mark my words." traders constantly say the words "it will" or "it wont"...the market has made it illegal for us to use those words. everything we do is a probability...we dont know anything for sure. so when u speak about the market never use the words "will" or "wont" because whatever it is your discussing might or might not happen. instead replace that foul language with "it may" or "it could" or "it should" or "theres a chance" or "probability shows" making these slight lingual changes u will be a more successful trader in your open-minded view of the market and you will have more productive conversations with other traders who do the same.

Friday, August 15, 2014

my 3rd free webinar on wedges

 i went ahead and made the 3rd webinar on wedges...please comment any questions

my 2nd free webinar on triangles

heres my 2nd webinar...if u havent already seen webinar1 i recommend u do so. all of these classes provide the highest level of instruction. i have learned from the best traders and eventually u will be an awesome trader if u put in the work too. i organized the info in specific order to best help u learn all the complexities of trading. the first webinar covered channels and this webinar covers triangle patterns. i try to put myself in the viewers shoes best i can. dont be intimidated by the content and if u have any questions about anything im always here to help. press play & good luck!

my first webinar on channels

ok guys & gals here is my 1st webinar from saturday 7/5 that i recorded. its the first of a free an ongoing series i will be teaching. if u were one of the participants in the webcast it may help u to watch over it again considering how much content was covered. if u missed it this is a great chance for u to learn the basics of support & resistance and many other things. please ask any questions u have about anything in the video. have fun and enjoy!