THIS IS A WEBSITE CREATED FOR, AND DEDICATED TO, DEVELOPING TRADERS



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TRADERNOVICE SPECIFIC GOALS:

  1. To Explicitly state how difficult learning to trade can be
  2. To Describe common pitfalls for the developing trader
  3. To recount mistakes that I have made, in the hopes that others may avoid them
  4. To direct novice traders towards the optimum resources for learning to trade
  5. To document my thoughts on current market conditions, ONLY for documentation purposes, so that I might learn from this. I will also post real time trades and review trades with explanations, again to help both myself and others learn.

Learning to trade can be exceedingly difficult. This is not only because the process of understanding trading is so difficult, but also and most importantly because it is so difficult to know where to turn to get a proper trading education.

My goal is help those trying to learn, by explaining what it has been like for me.
I can recount my mistakes, explain my misunderstandings, describe the books, tutors, and platforms that have made my trading easier---and also explain others that have not been so helpful. Those unprepared for what is ahead can end up ruining their financial, and personal lives. If you are new to trading please listen to these comments.

The road to trading success is hard, ....much more difficult than most else of what you will attempt to learn in life. To be successful requires enormous dedication, discipline, self evaluation and most importantly time......a LOT of time.

If you are willing to dedicate everything you have towards learning to trade, willing to spend countless hours in front of computer monitors, willing to approach trading as a business which requires intense accountability, and especially willing to do whatever it takes to harness your emotions and limit your investments (despite the fact that you think you know what the market will do next), then you may be one of the successful ones. If you instead think that because you have been so successful in other ventures you can learn to trade with little or no effort and you are anxious to put your money on the line.............then don't waste your time. Instead, take the money that you were going to put in a trading account and give it to a charity. Then at least at some point you can feel good about that. If you don't believe in charity, then flush it down the toilet. That will only hurt once, and it will be quick.

Read the sections on this site. Listen to someone who has been where you are. Trading successfully takes enormous time, effort, and most of all self discipline, but you can do it.

Dow still going nowhere past 13,000, but OIl has broken trading range higher. (see chart below) Will Oil go higher from here. See my thoughts under Current Market thoughts.

a chart of this week's oil prices




New section on specific futures trades. Several Trades posted this week (2/6-2/10)

New section on learning to trade. This section is all about placing a specific trade. How do you do it, where do you put the stop, how much do you risk, what specific patterns trigger the trade.
Take the time to read this!




TRADING ECONOMIC CALENDAR
Week of February 20

Wednesday 8 55 am Redbook
10:00 am Existing Home Sales
1:00 pm 5 yr. note Auction

THURSDAY 8:3O JOBLESS CLAIMS
11:00 am Petroleum Status Report
1:00 pm 7 yr. note Auction

FRIDAY 9 55 am Consumer Sentiment
10:00 am New Home Sales

Yahoo Economic Calendar here.

Bloomberg Economic Calendar here


THINK IN TERMS OF PROBABILITIES......see the rules of good traders rules of good trraders.

Section on SHORT COVERING; includes market profile charts and explanation of October 4 rally! Specific trade section so you can follow my trades will be up soon!

TREND, BREAKOUT, or COUNTERTREND? Learn about What Type of Trading is best for you?

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Remember The Three Pillars Of Trading:
  1. Methodology
  2. Money Management
  3. Psychology

Should you be a Contrarian.
Learn more about it and how to act on it.

MARKET PROFILE TRADING, USING Market Profile Charts in your trading

KNOW THE Limits of Technical Analysis.

Do you understand Short Covering? Review it here.


Learn about Balance and Break from Balance Trade