My first day of trading, I made about $670 gross. $450 net. I had been placing trades through my mentor and making some money. When I finally had the opportunity to place a trade for myself, I went crazy. I somehow made $450. I did not think about how I made the money. I knew…
Tag Archive: emini
End of month bull market tendencies.
In bull markets there is a tendency to sell the end of the month and buy the first of the month. This is also a time when there is rotation among markets. We look at markets on a relationship basis. By looking at these relationships we can adjust our execution, be bigger or smaller or…
Flipping a position vs flipping a thesis.
We have all been stopped out and then flip (reverse) our position only to get stopped out again. Two things help me. One I need to separate myself immediately. If I am not at my screens I can’t trade. No one likes to get stopped out and that most certainly changes the way I view…
Thoughts on trading plans.
When I speak about the need for a trading plan it is not because I got it right the first time. I did not have a plan I just did it. I was told I needed a plan but at that point in my life I was always the exception. I lost time and money…
It isn’t the losing, it is the not getting back.
I get a phone call. I make a few phone calls to cancel the meetings I have scheduled, I pack some clothes and get in the car. I am headed to the hospital. Despite having made the trip home more than 50 times, I get lost 3 times. After the third time I finally caught…
Thoughts on oversold and overbought markets.
As with any indicator all it really provides are breadcrumbs or if you will, a post. Something visually attracting to help you remember the next time it happens. If you are looking at an indicator without context you are betting on three things: you saw it first, others will see it soon and react, and…
Too invested to trade.
One of the worst parts of trading at CME is I got to see many traders on their last day. One of the best parts of trading at the CME is I got to see many traders on their last day. How they got to that point is all different. One of the three D’s,…
7 Dirty Words of Trading
This originally appeared in January 2011. Be careful how you use the following words and phrases. Should- Phrases include: “The market should have” and “I should have”. Those phrases are often used to socialize losses. They are a strong signal something is off. They should be used to aid you in correcting your vision not…
Eliminating risk is not the purpose of trading. Part 1
Earlier this week, as Timmy Giethner was speaking he made it a point to bash banks. He said something along the lines of we need to remove risk from the banking system. I am still perplexed why he said that but I think it is a general misconception of people that risk is always bad….
Video: We talked debt ceiling, change of direction, and identifying the leader.
In this week’s Q&A we talk about how the debt ceiling could effect the markets, how a professional transitions from long to short and and vise versa, we also talk about the importance of identifying the leader. We are live every 1ET on Wednesday taking your questions here. Also, if you are interested in learning…
