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Results for tag "strategy"

Control


Throughout my trading career I’ve interacted with many traders. I have been a member of several different trading communities where I could watch some new traders blossom and others blow up their accounts. I have worked personally, on a daily basis, with many different brand new traders as well as some vastly experienced ones to both tweak my own style as well as to try to help newer traders tweak theirs. Ultimately, some of these traders have stuck it out and become profitable, some are still working on it, and some have decided that trading is not for them …


Four Effective Ways to Determine Your Ideal Position Size


One of the concepts I’m often asked about by other traders is the concept of proper position sizing. I’ve blogged about this in the past, but that post still left a lot of questions unanswered, especially if you’re in that “experimental” phase of your trading career where you’re trying to feel out what works and what doesn’t. It can be difficult, even after reading that post, to “know yourself” without years of experience. To combat this phenomenon I decided to make the issue of position sizing a bit more systematic. By doing this it gives …


Seven Trading Tools I Couldn’t Trade Without


We all know that the tools don’t make the trader. A caveat to that though is that while much of the success of profitable traders comes from within, every profitable trader has a small set of tools that they absolutely couldn’t trade without. They might be software, hardware, or something completely unrelated to trading, but I guarantee you they’re there. I use a ton of resources to gather ideas for trades and execute on those ideas, but there are seven tools about which I can confidently say, “If I didn’t have this, there would be a …


The Greatest Trade I've Ever Made


I’ve traded for quite some time now.

I just passed the two year mark trading full time, the five year mark since I started day trading heavily in 2011, and the 13 year mark since I opened my first trading account with Scottrade at age 18. I’ve said many times on this blog that I’ve had ups and downs over that time period. I’ve wanted to quit multiple times and have gone through drawdowns I thought I would never get out of. I struggled for years to build a system that worked and even when I …


Niche


With respect to trading, if someone were to ask you what your niche is, could you answer?

Many traders couldn’t. That’s why many traders aren’t consistently profitable. Over the years I’ve learned countless strategies and studied hundreds of trading methodologies. I’ve spoken with, visited and traded with so many traders I’ve lost count at this point. In this age of information sharing and social media it’s easy to become overwhelmed and overloaded with too much content. There are books, DVDs, blogs, live courses, mentoring, you name it. Much of it is free or …